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Who To Reach Out To

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WHO TO REACH OUT TO
WHO TO REACH OUT TO

By Cosmos Sports | September 16, 2020

Reading Time: 46 minutes

In a 10 part episode series, our experts discuss the different tools and tactics to acquiring sponsorship. Episode 3 takes a look at who to reach out to when seeking sponsorship.

Who To Reach Out To

Evan Colborne:

0:00 

“Good afternoon, everyone. Welcome to episode three of our corporate sponsorship webinar series. I am Evan Colborne. This is Cary, who is president of Cosmo Sports and Entertainment. So as we usually get started a couple of housekeeping items. So first of all, very special thanks to Central Counties Tourism, and Sport Durham, again, for putting on this webinar series and allowing us to host it. This is episode three, we still we still got seven more to go after this and it’s so far so good. So we’re really glad we’ve been able to bring this to everybody. If you have any trouble seeing any of the slides that are on the screen. All the slides will be made available to anybody who’s registered for the webinar. So don’t worry if you can’t see something or if you’re trying to take a note and just can’t quite read it. All the slides will be made available. We’re going to wrap up the presentation today with some q&a at the end for the last 10 minutes or so. So the way to submit any questions is, if you’re on the YouTube page in the top right corner of your screen, there’s a live chat box. We did learn that on our last episode that you do have to be signed into your Google account in order to be able to submit a question. So if you’re not signed in and would like to submit a question all you have to do to sign into your Google account, you don’t have a Google account or if you’re not able to sign in where you are, you can email us any questions so you can find her emails on cosmossports.com, if you go to about us and our team page, all of our emails are there. So you can send one to Cary or myself or Rebecca and we’d be happy to answer any of the questions you might have. So with the live chat questions, so there is a slight delay on the on the broadcast. So submit questions throughout as they come come to mind for you because if you wait till the end, we may not be able to get your question on our end before the broadcast actually ends just because of the delay. So submit questions throughout and and hopefully we’ll get a chance to address those at the end. And likewise, you know, if the if there’s any questions that you find after the webinar, you can always email us again, emails are all on the team page. So.

So with that, so our third episode is all about who to reach out to, we’re going to talk about the sponsorship prospecting process. So Episode One, we really touched on what sponsors want, really tried to provide some insight into what they’re looking for, and what their objectives are episode two really focused on us as properties and what we have to offer, and then tried to offer some insight into what it’s worth, and how we can determine some fair market values for different assets. So with a good understanding of kind of both those sides now, and had you followed along through kinda episode two your kind of, you’ve got all your tools really that you need. So now it’s time to start reaching out and start building some relationships and start having some conversations with with potential sponsors. So the way we titled this, this webinar is really there’s two key words that we wanted to highlight here. So first is who. So we really didn’t title this around, you know what companies to reach out to, for sponsorship, it’s really about who to reach out to for sponsorship, and it’s kind of been a theme through our first two episodes is, it’s about people that the people that are making these decisions are just like you or I, and they’re just working in a different type of job. So it’s really about finding the right people to reach out to for sponsorship opportunities. And the second is the word reach out, it’s a proactive process. It’s not reactionary. It’s not about putting up a form on our websites, and, you know, requesting sponsorship, there or things like that. So we’re going to really focus on how this is a proactive process, and what we can all do to be proactive in sourcing out those opportunities for ourselves.

So a couple just key takeaways for today. So first, we would, you know, the hopeful takeaway is understanding of how to prospect for the right companies. So, how did it and we’re going to talk about how to define a bit of the why or the fit, why there’s that initial fit between a company and a property. Second, you know, finding the right person at the company to reach out to, so who’s the, the ultimate decision maker, and how can we, how can we get in front of that person. And then lastly, we’re going to very specifically in tactfully show what that outreach really looks like, both from email from phone, different methods. So we’ll share some some really specifics on how that looks.

Okay. So really, where we’re going to get started is how to first kind of define who are the right companies that we want to be reaching out to? And it really does start with that concept of why and why in the sense of a few different ways. So A. Why does our property exist? What’s our mission? And what’s our purpose? B. What’s the company’s mission and purpose? And is there any alignment there? Do we have a similar business objective? Do we share a similar audience? So forth? So there’s got to be some sort of initial fit between companies, because there’s really often there’s this kind of misconception that you look at a company, maybe it’s like a McDonald’s or something, you say, hey, they have a lot of money, why wouldn’t they want to sponsor us?”

Cary Kaplan:

5:25 

“So I think that first of all, it’s great, appreciate the introduction Evan. I mean, it’s a really important topic today. So and you know, just say, in general in the series, I mean, sometimes it can be hard. It’s a lot of Evan and I talking here with slides in the background, but I hope you could, it’s a lot of theory in some ways, but I think, you know, the appreciate it and I know, there’s a lot of people that are listening, I think the content’s unique, and as I said, you know, a few times common sense isn’t always common, or common sense is uncommon. I think it’s a famous quote. So that’s important. There’s a perception.

So one of the and I think today in particular, more even so than the first two episodes is some of the misconceptions about sponsorship, there’s, I think, two or three that we’re talking about today. So the first one and one of the most overwhelming ones, it’s exactly what you said. So I hope you guys listen closely to this point. A lot of you may think Tim Hortons has a lot of money. McDonald’s has a lot of money. Canadian Tire has a lot of money. Why aren’t they sponsor us? Terrible, terrible thought process. They don’t have a lot of money to spend on sponsorship, they’re successful because they manage their business well. So they’re not sitting with hundreds of thousands, or millions or 10s of millions of dollars looking to sponsor or work with things that don’t make sense. If you’re the director of marketing of a local McDonald’s or you’re the franchise manager of a local McDonald’s, you have a very small amount of money, you might have whatever that is, and it could be $5,000 or $10,000 or $100,000, but you want to strategically spend it the best way possible. So the mistake is for somebody to say, well, I’m an Olympic athlete or I want to be an Olympic athlete, or we have a great event here that, a great festival in town and this company, McDonald’s has a lot of money, so they should support it. Wrong answer. The concept is how do you link, it’s understanding them. It’s what’s the, who is the local franchisee at McDonald’s? What are their values? What events have they done in the past? What might interest them? What’s good for their business? How will they sell more hamburgers or more salads or more of whatever? And how can you be a facilitator to help that McDonald’s have more traffic. And that’s the same for the local law firm or insurance company and so again, if you start from a position of they owe me something, they owe us something, they’ve done well by this community they should spend with us, you’re going to be very unsuccessful. If you start from the premise of they’re successful because they spend their money well, in large part, let me care enough so I understand them better. That’s a much better place to start from. So just sort of get it out of your head, this company has a lot of money, or this company hasn’t returned my calls or emails. So it’s on them. It’s on you. It’s your obligation to best define that. And you’ve got to solve that dilemma. Not saying, well, I did my work by sending them three emails and they didn’t respond, it’s fine. But you’re going to be grumpy about that but it doesn’t mean they’re ever going to work with you. So the onus is on you.”

Evan Colborne:

8:48 

“Onus, is on them and it really is that you know, that fit, there’s got to be that fit. Otherwise, just and there’s nothing wrong with that, then maybe there just isn’t a fit and that’s okay, too.”

Cary Kaplan:

8:58 

“There’s not always a fit and sometimes sometimes it’s good to go into these situations and say, I don’t know if there’s a fit for McDonald’s to work with Heart and Stroke Foundation, or this is a marathon we’re coming up, right? You may think, oh, McDonald’s, how can McDonald’s work at a marathon their business is hamburgers and fries and milkshakes and soft drinks. Well, McDonald’s wants to you know, big part of what they want to do if you talk to them as promote their yogurts and their salads and their oatmeal and maybe it’s a great fit, but maybe it’s not. So you have to part of it is understanding their business and maybe talking to them, you know, do you understand what the calorie content of their oatmeals are? How many they sell? Or are they successful or not successful? Or do they, what has McDonald’s done in the last 10 years to tie into healthy living? And by the way, it’s not just as I say McDonald’s it could be investors group, you know Purolator, I like Purolator’s example because they, hunger is a big cause for Purolator. Well, you’d never think that you think Purolator’s in the delivery business. Well, Purolator’s in the preventing hunger starvation issues, but that’s on you. Do your research. Figure out, understand Purolator before they call them. Don’t think you understand your event. Of course you do. But you’re not in a position to call Purolator and McDonald’s until you know something about them. And again, you know, yeah, it is, you can be creative, the good news about fits, there are more fits than you think. But you have to be, you have to look at the company to really understand where’s the fit. And if you can do some homework before you can help define a fit before you reach out to them you got a fighting chance.”

Evan Colborne:

10:47 

“The research component, really, really important. And now with just simple as Google, you can probably find a lot of what you’re looking for, just with, you know, a few minutes typing in a few searches.”

Cary Kaplan:

10:56 

“Yeah, absolutely. I think you we’ll talk about Google, I think we’ll talk a little bit later about LinkedIn, there’s no excuse anymore. So you know, maybe I’ll just mention how Google is a fit for just homepage of companies, websites, or Wikipedia, Wikipedia page can be great, because a little bit more objective, the whole page and Wikipedia that you’re covered and then the other side who are people, if you want to know who the community relations person is for Mr. Lube, within your area, just it’s on LinkedIn. So might take you five minutes, might take you ten minutes, so there’s no excuse anymore. So to be able to say, you know, we’re not looking through phone books anymore. So I think the technology is an amazing tool, but on the same end calling somebody and saying, without that research, you know, it’s embarrassing. So I’d say to everybody, if you’re making a call to a company, and you don’t know anything about the company, pretty shame on you guys, that’s pretty embarrassing. That’s pretty bad, that you would reach out to a local business without knowing more about them than that you’re a casual customer, you’ve been there once before.”

Evan Colborne:

12:09 

“So we’ve all heard this, this concept of kind of the low hanging fruit that’s this graphic here, we all have multiple jobs, we all have lots of tasks to do and we want to focus on those things that are going to be most effective that aren’t going to take up disproportionate amount of our time to be effective. So this concept of focusing a lot on the low hanging fruit so we can do all that research around fit and, you know, think we can define some companies that are really good fit for for our property, but there’s still that, you know, that lack of connection and they may, to continue the analogy that may still be really high up the tree so, really, I mean, how do we kind of narrow it down so, we start focusing on one.”

Cary Kaplan

12:55 

“Yeah, well, a good example, I mean, it’s a great graphic, it’s a really neat graphic because the guy’s on the wrong side of the tree and he doesn’t even see that, you know, if he walked around the tree he would see there’s apples right at the bottom. I think, you know, it’s funny, I use the example of McDonald’s but I think that’s often the problem. People say, Tim Hortons, Canadian Tire, Scotiabank, McDonald’s, those aren’t, that’s often high hanging fruit. What about the local person that has two spas in Ajax, and you live in Ajax, or the one person that owns the one Arby’s in Durham Region and you happen to know that person but you’re calling the head office of Arby’s in Toronto. Why, like, that’s the apples right there and you think, Oh, yeah, Bob just owns the one Arby’s he doesn’t have any money. Bob’s an Arby’s, he’s an Arby’s franchisee that’s the person to talk to, as opposed to trying to find some head office connection, who’s maybe never been Ajax in their life. So again, it’s just, you almost have to take a step back and look around you and say, Look, who are who are my potential partners as opposed to so all these you know, and by the way, one of the things about our training at Cosmos here, it’s not consistent maybe with what you’ve heard or read before. So everybody obviously chooses to pick their own, pick which way to go. But we’re, you know, we’re pretty confident in our argument and there’s some people that say, look at fortune 500 companies. To me, it’s totally ridiculous look in your own backyard for organizations and people that are fits, I think we’re going to talk a little bit. Yeah…”

Evan Colborne:

14:41 

“So yeah, so really, that concept of, you know, not not trying to jump to the top of the tree and just going for those fortune 500 companies or thinking it’s someone downtown Toronto, it’s, really that person in your backyard, which is the first point here is albout personal network and kind of being surprised to just how many of you kind of sat down and thought about it for a minute, and your own personal network, how many companies you’re connected to locally and otherwise, through friends, family, you know, in your work life as well, it could be clients, could be customers, could be vendors. So, there’s this huge network of people that you’re connected to, that you may not even realize it.”

Cary Kaplan:

15:22 

“Yeah, the best example for me is, so my brother works at Quaker Tropicana Pepsi. You know, I say, when I say Pepsi, he’s in nutrition, so it’s a Pepsi that’s odd, but it’s Quaker, Tropicana Pepsi he’s in nutrition. He has nothing to do with sponsorship or marketing or any of the things that Cosmos does. He’s always the person I’m going to call at Pepsi first. Now, it’s not going to be the person anyone else on that we’re talking to today’s gonna call, but my brother works at Pepsi. So I’m gonna ask him, Hey, what should we do on sponsorship? Or who should we talk to out of that meeting? And yeah, it’s three departments away, and it’s in another building, and it’s in another city. He’s still. he’s inside the building. Think of your own organization where you work, you know, you work for the, if you work for the city of Pickering and I, do you know, who does sponsorship? Yeah, you figure it out and it may not be the person that has that title, or maybe one person’s easier to deal with than another person, or you know, the intricacies or you know, how purchasing works, or you can find out. So, I think the mistake is to not use your own network, you know, think of all the people that you guys know, that work for different businesses, that’s the person you should talk to at those companies, not the person in the “right title”, start with the people you know, and then ask those questions. A simple question is, who’s the right person? Or can you point me in the right direction, or, you know, I know, you don’t have anything to do with this, but you’ve been my friend for 20 years. So who would be the person that or you know, so again, I think people are afraid to kind of go to their network to find out information.”

Evan Colborne:

17:09 

“So we talked about as well, the, you know, focusing on the, on the local businesses, as opposed to, you know, thinking it’s somewhere in Toronto or Calgary that you have to go to find the decision maker, that the local business person more chance to, you’re going to have to be connected to them, or know them, more chance, like you said that that person’s been to your event or aware of your event or property because they’re living in that community. So that focus on local…”

Cary Kaplan:

17:34 

“Right, even that Arby’s example. So if there’s one Arby’s in Oshawa, and the person doesn’t have a lot of money, and you don’t think they do very well, there’s still the one, it’s much easier for them to sell head office, or to convince head office than it would be for you. So they’re really excited about the Oshawa generals, and you want to get Arby’s on board. And you know, that they don’t have any money at the store level, you want an ally and your ally is, that’s, you know, your ally is the person that has those little connections that knows what the Oshawa generals are, and knows that that’s relevant. So don’t side step the person because you don’t think they have a big budget, or they’re not important, or they’re not in the right department. So again, looking up where the head office is doesn’t really mean a lot. It’s really starting with your, starting where possible with your local connections.”

Evan Colborne:

18:32

“The other way to kind of narrow down is is to look at sponsors of similar properties. So if you’re running a festival, you know, maybe looking at other festivals and seeing who are some of the companies that are associated there, but we were talking about it just before about looking at companies who are already do sponsorship just in general, because they’ve already got that.”

Cary Kaplan:

18:52 

“Right, there’s a line item, right? So do you have, a lot of companies have in their budget, and you know, people are, it’s dated. So there’s a lot of companies that still have TV, you guys may have, some of you guys listening may relate to this TV, newspaper, radio, outdoor, and then they put in something called online, everybody put in 10 years ago in their budget, or five years ago online. Well, it’s totally dated, first of all, so. But if they don’t have a line that says sponsorship, it’s harder because you’re creating something out of scratch that they’ve never done before. So an organization that has done things like this, that’s one of the factors it’s not the only one. But one of the factors to say, hey, we’ve seen like you said, they’ve sponsored festivals, it means they’ve done their research, they’ve got an activation team, they know how to give away samples, they’re set up, they may have already bought a booth, you know a booth could cost them $10,000. So if they bought it already, now, they can come to your event, and they don’t have to pay that $10,000 it’s sitting in their office somewhere. If they’ve never bought the booth and you want to be the first event now they have a big hard costs associated with it. So again, companies that have a propensity to do stuff like yours, it’s way easier.”

Evan Colborne:

20:07 

“So through all of that, I mean, you may still, you know, feel like all those channels are exhausted and you still feel, you know, there’s a company there, that would be a really good fit, and you just have that good feeling about it. But you don’t appear to have any connection. Is there any harm in reaching out and…”

Cary Kaplan:

20:25 

“Well, I think what I’d say, you know, the last line, there’s cold outreach, I think what I would say I hate the word cold in general, I think you have to warm it up. So you take something, it’s cold, and, you know, you can put in the microwave or put it in the oven. So now what I’m saying is, as opposed to saying, so if you get excited, and you say, okay, I really have a good feeling that Allstate would be a really good sponsor, I just have a feeling they’re in, they’re committed, whatever that feeling is, okay, do your research now. Start with the feeling and do your research. So again, research the company. What do they do? What have they done? Do they care about your community? Have they done stuff in other communities? Have they done things similar? Who are the right contacts, what’s the background of those contacts? If you go on LinkedIn, if you see somebody works for Allstate and they used to work for Manulife that might be part of the conversation, maybe. So I think the point is, warm it up. You could have that, you can have a gut feeling. But before you reach out to that, because your odds are so slim if it’s just cold, you know, warm up the lead and then make your outreach. But if your outreach is something you know more along lines of, I think you’re going to give an example related to Manulife, but I think the, the more of the example is specific and less generic, so that’s sort of the short.”

Evan Colborne:

21:54

“But probably safe to say, you know, if you go through those first kind of three steps, pretty hard to find zero connection, there’s going to be some connection way into to warm it up.”

Cary Kaplan:

22:03 

“That’s right. The other thing I would say just about that is it makes your conversation’s easy. So if you’re in this sales mode that we have a great event and do you want to sponsor it, it  tends to be a terrible conversation. If the conversation’s more about shared interests, or you can say, Hey, I know you guys got involved with the Heart and Stroke Foundation recently, can you tell me about that or i’d like to learn more about that it’s a, you know, it’s the point of icebreakers, it’s nice to have some real tangible things that you can discuss.”

Evan Colborne:

22:42 

“So we touched on a couple of these already, just in terms of how to how to actually find the right person to reach out to. So LinkedIn obviously, being the foremost new kind of technolog one, which is great, you know, it’s searchable, you can find people in it and it already offers you that connection, and says, you know, this is how you’re connected to this person, or you’re two degrees away from this person, and so forth. So, a really great tool to utilize to find who the right person to connect with is one that we, that we didn’t kind of touched on yet is your organizational context. So you may have vendors and companies that your property is spending money with, so maybe you need to buy insurance, or maybe or catering or something, those people you can look at as well.”

Cary Kaplan:

23:30 

“Yeah, absolutely. So, who do you do your banking with, everybody has a bank. So, if you’re banking with Scotiabank, you got, a lot of you guys are, you know, your suppliers are, major organizations are suppliers. Without and I know some people get nervous about this about is there a conflict or based on some of the municipal people that were talking to your about regulations. But they’re separate discussions. But the advantage of you having a supplier relationship with a bank or an insurance company or the person that does the wiring in the building or the forklift operators, those are great companies for you to reach out to and talk to them about a relationship. You don’t have to say anything about you talking to a forklift operator, the company that does operations in your building. You don’t have to say, by the way, you do, you’re the forklift operator building. But, they know that, they understand that, that they’ve been doing work for you, with you for many years and I think it’s natural and here’s one of the things I think people get confused. So they would think, well, if I call the forklift operator in our building, we’re already doing stuff with them. I feel uneasy about that. I should call another company. The problem is, what if they wanted to do something? And what if their competitor let’s say use John Deere equipment, and you think oh, well, we shouldn’t really mix the two, John Deere’s our supplier. They do a lot of work here that we have their machines. And so I’m going to call Caterpillar, Kubota, Kubota becomes a sponsor and then John Deere comes in and says why didn’t you give us a chance? We’ve worked with you, you guys have bought our John Deere machines for 20 years, you know, we would have liked to work together. So there’s this opposite feeling that you shouldn’t approach John Deere. Now, if you approach John Deere and they’re not interested. That’s different. But you should, the people you’re already working with are the ones they have relations with. Like, it’s seems sort of counter productive or counter intuitive not to talk to the people that you talk to every day, just maybe somebody down the hall in your office. But so anyways, yeah, absolutely. The answer is you should, the more you can use the companies that work with you, the better.”

Evan Colborne:

25:58 

“So this graph we took from the Canadian sponsorship landscape study, the most recent addition,

in our first two episodes, we’ve had a few other graphs from there. But so this one looks to highlight the title or the level of people who are sponsorship decision makers. So maybe a little bit tough to see on the screen here but this green bar here represents VP level and this pink bar here represents director so you can see 75% of the decision makers that were surveyed in this were at that level only 10% that were at the manager level and 15% at the president and CEO level. So pretty good bet that your decision maker at a company you’ve identified is going to be in that level. And it’s going to have one of those kind of titles. So if you’re doing some of that research on on LinkedIn, you may want to kind of look for those types of titles.”

Cary Kaplan:

26:52

“Right, and if you’re talking to somebody who, you know, good question is who makes the decisions on sponsorship? So let’s say you have a friend, you know, my brother is, you have a friend somewhere, as opposed to saying, who’s in sponsorship, or even who should I talk to? A better question is who makes the sponsorship decisions? Because we say, who should I talked to? They might maybe somebody more junior, but really you want, the sooner you can reach a decision maker, Yes or no, is better. If you if you’re dealing and you feel like well, I may get a quick no. Well, if the manager likes your idea, but you’re going to get a no from the director anyway, you want to get a no quickly what it’s a lot of time, why put time in if ultimately, it’s not going to be received. So you want to go to the person who so good word or good way to as you’re working through there is who makes your corporate partnership, corporate sponsorship decisions. And sometimes it’s a team of people, some sometimes someone will say to you, well, you have to start with our manager director, that’s okay. But the closer you can get to the decision maker, the better.”

Evan Colborne:

28:04

“So there is a, you know, a bit of a risk, I guess, of, if you do kind of start a little bit too low on the pecking order that, you know, maybe that person doesn’t have the clout or the authority really to push something through further. So they, I guess, if in doubt, would it be would it be better to aim high? And then…”

Cary Kaplan:

28:23 

“Yeah, I think if in doubt, I think your decision maker’s can typically be higher rather than lower. So the graph really shows that, you know, the manager is rarely, manager, a coordinator executive, is rarely making an ultimate decision. So, yeah, I think if you can, but again, the most important thing is that you’re starting with people you have relationships with. So if you know, the manager of sponsorship, you say, oh, she’s not a decision maker. That’s okay. That’s where you have to start, you know, where there’s a history, start with the manager of sponsorship, and then see where it goes.”

Evan Colborne:

28:58 

“Right, and then on the high end, I guess it’s probably most common that, you know, president ceo level, they’re relying on their team. So they’re deferring those decisions down to somebody who’s a little bit more specialized in that area.”

Cary Kaplan:

29:09 

“Yeah, well, we just did, we just did a pretty large sponsorship deal for three years for a company and some naming rights, and the director handled everything for most part, but the vice president signed off. Now vice president didn’t change a single word of the contract. And that happens a lot, because they are relying on the director of sponsorship, the Vice President could be it says VP, marketing sponsorship. But one thing I would say a lot of companies, the VP is just VP, it could be VP business operations, a lot of companies don’t have VP of every department. So it’s a vice president up here, and they have 12 different directors reporting to them, they’re going to sign off think in your own situation, you know, oftentimes where you’re working once your superior trusts you or if you trust your staff under you, you’re going to, less much less scrutiny of what they’re doing. So it’s the same on buying decisions. So that’s common. So a lot of times, even when it says VP decision maker, they’re oftentimes a check and balance. So if a VP is deciding the CEO, maybe signing off, if the director is doing it, the Vice President may be signing off, but the person who makes the essence of the decision is really key for you.”

Evan Colborne:

30:32 

“And in this graphic, might be a little bit more representative of some of those, you know, bigger than corporate sponsors, and things like that, but it’s probably could be applied to a small business, it’s probably pretty similar, that the owner or president of that business is going to defer to their team, and so forth. So that’s probably still pretty accurate.

Okay, so now we’ve got a pretty good understanding of, you know, how to identify the types of companies that are really good fit for our properties, we also have a good understanding of how to zero in on the right person, and who we should be talking to at those companies. So now we kind of get have to get into the, into the thick of it, which is, you know, the actual outreach and starting to trying to set up some of these conversations and start building some of these, building some of these relationships.

So the first example we kind of show here is in the introduction to the episode, we talked about how this, our approaches are really personalized one, and it’s a really proactive one. But you know a very common practice for in sponsorship is application forms. So, you’ll see it on a company’s website, you know, fill out this form for sponsorship or donation requests and you may also find it on a properties website, where they’ve got a page on their website, where people can apply to be a sponsor. What are our thoughts on on forms, and then how to navigate them, or what should…”

Cary Kaplan:

32:04 

“I think people don’t read them. So I think the thoughts on forms are, you know, some of you guys will say, I filled out a form, it’s generally you know, you always have to be careful when you’re generalizing, and there’ll be somebody out here, that’s said, oh, I filled out a form once and I got a sponsorship. But generally, companies are non responsive to forms. It’s not personalized, they get bulks of them, it doesn’t look, it’s not something that differentiates anybody, it doesn’t allow you usually the opportunity to put a lot of detail in there, you know, the Olympics are not sending a form to Canadian Tire, the Maple Leaf Sports Entertainment don’t fill out any forms. So why are you filling out a form and I think that immediately puts you in a pretty unlikely situation. So the reality is, it’s not, it’s not a very effective route.”

Evan Colborne:

33:00 

“We were talking before about how a good analogy for forms is kind of like applying for a job. And then you could apply for a job and you could submit your resume and, you might be the most qualified, and then the best candidate and your resume rises to the top. But probably, that’s a little bit more of a narrow opportunity than if you’re proactive, and reaching out and figuring out who that hiring manager is, building the relationship and it’s very, very similar in that sense that if you’re filling out the form, if you’re the absolute best sponsorship opportunity, maybe that form rises to the top, but it’s probably unlikely.”

Cary Kaplan:

33:33 

“Maybe, but I would say, and, you know, again, another key point, if you’re really good, that’s overrated. So I don’t know if everybody got that. If you’re really good, let’s say your event’s great, everybody should sponsor it. It’s part of it. But to think, I think there’s so many people that come from a position we’re great, therefore, somebody should sponsor us. The key is how it’s conveyed. There’s lots of good products and good services and people have great ideas and people that fill in forms and some of you guys are probably listening to this think our event is amazing and sponsors aren’t listening to us, well it’s on you. It may be true, but it’s not the sponsor’s fault that they haven’t responded to you or responded to your emails, it’s your fault, you haven’t figured out how to convey the message you know, I always use the example if you have better coffee than Tim Hortons who cares if you’re not selling any, and you don’t have the store and you make it, if you want to do that, and you make it at home and it’s for you and your significant other, great! But you shouldn’t be upset that you’re not selling a lot of them, unless you kind of go through the exercise of figuring out how to do that. So again, if you, people spend so much time on let’s have a great product and so little time on conveying that and sponsorship’s a part of that if you’re not conveying your message or why your product is a good fit for sponsors than you don’t deserve the sponsorship, you haven’t done a good, you haven’t convinced people that it is good. So just because you know, it doesn’t get you very far.”

Evan Colborne:

35:20

“Okay. So forms probably something we want to avoid. So probably one of the more common outreach tactics that are used by most people would be would be email. So we wanted to spend some time talking about that when we use the word template. So we don’t mean it in the sense of copying and pasting or, you know, mass emailing a generic message to people we’re really kind of talking about is that there’s a few key elements that you probably want to have consistent in just about any introductory email that you’re sending out, which we’ll kind of go through an example here.”

Cary Kaplan:

35:58 

“So just sorry just before you start in the items Evan, the one thing I want to say, cuz I don’t, is how small it is. So just before you get into the specifics, the one thing I want to say is, keep it short, the vast majority of emails and think if you’re listening, if you’re listening here today, think of the last five emails you sent to people that were sort of outreaches where they, if anything this is too long. So that’s a very common mistake is to send an email, that’s a page long, people aren’t going to read it. Directors, Vice President, CEOs, people that you’re targeting are not going to read the length of the email. So just before you get in the specifics, keeping it brief and concise is very important.”

Evan Colborne:

36:43 

“So I’ll read the example here, because it may be a little bit tough to see. So in this case,

Good afternoon John, I was referred to you by my colleague Rebecca, who indicated that you and her had worked together a few months back. I recently heard about Manulife’s new partnership with the ride for heart and I have to say that from my perspective, it seems like a fantastic partnership. If it’s not too much trouble, I would love to pick your brain about Manulife’s healthy living and wellness initiatives, hear about some of the other objectives the organization has for 2018. Would you have some time on Thursday or Friday of this week to chat for a few minutes? Thanks John. Hope to hear from you soon.”

Cary Kaplan:

37:15 

“So again, just while you’re looking at this, do you notice what’s not mentioned in here? Your event or who you are. It doesn’t, you know, you think, well, how could I set the bottom right, director business development Cosmos Sports and Entertainment, but it’s, you’re talking about Manulife and their initiatives and ride for heart and talking. So again, where’s the focus? If you’re going to keep an email this short and the email ends up being all about you, that’s not going to get people excited. They’re sitting in a Manulife desk with Manulife colors, and they get their paycheck from Manulife and Manulife is very important to them. So again, talk about things that are important to them.”

Evan Colborne:

37:57 

“So you can see from what we mentioned about a template, you know, this couldn’t really be a template because it’s Manulife specific, it’s personalized to the person. But there are a few key elements that would be consistent across just about any introductory email that we’d recommend sending out. So I’m going to go through those now. And this these may be a little bit easier to see.

But so the first and foremost is that it’s a personalized greeting. So it’s good afternoon John. It’s not to whom it may concern. It’s not even, you know, to Mr. or Mrs. so and so. It’s personalized to John and again, it’s using their first name in the book, How to Win Friends and Influence People. It talks about how everyone’s favorite word in the entire English language is their first name. Something that if you hear it, you can’t help but turn your head, you see it written, you can’t help but kind of read a little bit. So personalizing it right off the top can help a lot just to get started.

Second, so there’s a strong point of reference. So, mentions that it was referred by a colleague, Rebecca hopefully they he, John in this case remembers who Rebecca is and there’s that connection that’s the reason, that’s how I found this person’s contact information. That’s why I’m reaching out. But there’s that point of reference so it indicates to the recipient, this isn’t spam. This is somebody who typed an email out to me.

So, third, you know, framing it and why did why did I see a fit to reach out, so, it’s talking all about them. And talking about Manulife, talking about a recent initiative of theirs, that I saw that made me think of them, and so it’s all about them, and I think that paragraph there we’ll get back here for a second. But this paragraph here, where it’s all about Manulife, that’s where we would see really commonly start to kind of try to squeeze in as much information about meetings.”

Cary Kaplan:

40:00 

“You digress, it’s a digress. The other thing that’s not on here, too, is the subject line. The subject line has to have Manulife or something about Manulife. The subject line should have the words ride for heart or Manulife or something in there. Maybe you’re in there in a slash or as part of it, but it’s, the focus is again, yeah, and people tend to people tend to want to have another paragraph or two that there may be a sentence about the nature of what you’re calling about, or the inquiry or, but it’s really limited. You know, I wanted to talk to you about our, to see if there’s any fit with Manulife and our peach festival in Ajax. That’s okay. But it’s to see if there’s a fit with Manulife see even better Manulife’s initiatives or Manulife’s  vision or if you know, that our event could be similar to ride for heart. So I think it you know, if you’re going to put yourself in there, put it in the context of them or things they’re already doing.”

Evan Colborne:

41:06 

“So another one is there’s a call to action and it’s very specific, and we’re not asking for too much of a time commitment. So in this case, you know, one of pick their brain about their recent initiative, hoping they have a few minutes on a Thursday or Friday. So not asking for like a one and a half hour formal sit down meeting where we’ll go through our my sponsorship property and everything, I’m asking for a small commitment from them. So, the call to action, and then a personalized closing. So, you know, thanks, John, and hope to hear from you soon. So, again, another opportunity to insert that person’s first name into to the email, kind of bookends it nicely in the sense that you started with that, and then you’re ending with it all being about them specifically and…”

Cary Kaplan:

41:54 

“What I would even say, I don’t mind that the thanks John’s great, I would say even stronger than that would be something like, thanks John, do you have, would you have a few minutes to discuss this later in the week. Something where there’s a call to action, it’s suggests that it’s a short period of time, it suggests something’s coming, this isn’t the end of the communication, you don’t want them to think that they can delete it, and they won’t hear from you again.”

Evan Colborne:

42:22 

“So I mean, this is one template. This is one example. By no means does this suggest that this is kind of the be all and end all of email templates, if you spend some time on Google, you’ll find kind of no end to effective email templates for different things. But part of the reason we kind of we, again, we use that word template in the five key elements is that it’s something that you can kind of measure a little bit and see, if I make this paragraph a little bit shorter, do I feel like I’m getting more responses? If I’m personalizing it, if I have a really strong opening. So it’s a template in the sense that you can kind of tweak a few things here and there and see what’s working.”

Cary Kaplan:

42:59 

“The only thing I would say to that Evan though, you got to be careful, as we go online, there’s lots of email templates, some of them are very bad. So I would say that the general premise without getting too specific, here’s the general premise is you’re in good shape if it’s customer centric. So if your focus, if it’s an email template, and its really focused on the people you’re talking to, and it’ll probably be the biggest theme in our 10 sessions here is make it about them and not you so I think when you’re looking for those templates, yeah, again, you’re right. This isn’t, there’s lots of varieties, but just make sure you’re keeping it within the context of less about you more about them and looking for fits, right.”

Evan Colborne:

43:43 

“So I mean, even if you did kind of manage to find the perfect email template, probably still more than likely that you’re not going to get a response. It’s probably the most likely scenario. So what do you do?”

Cary Kaplan:

43:55 

“Well, it’s a good first of all, you don’t get angry. So I think one of the things that it’s so common for people to say, I sent them and I spent, so just think how many watch how many eyes are in this, I spent three hours researching their company. I spent two days coming up with an email. I took a course from Cosmos Sports and Entertainment. I wrote an email. I sent, I did attachments, I sent an email to them, and they didn’t even have the decency to respond. Do you respond to all your phone calls you get from duct cleaners at home? No, not all of them, you don’t return every one of them? Do you respond to every cell phone inquiry or everybody that wants to sell you a photocopier? So the worst thing you could do is get angry about that, you’re not a priority for a company. Why would for that Arby’s who’s trying to sell roast beef sandwiches, how are you a priority about maybe sponsoring an upcoming marathon, like it’s not a priority. So you’ve got to kind of have a level of humility, first of all, and realize that your email you said just because you put a lot of time into it, is not a high priority for the person receiving. So that’s first. So I think it’s just, it’s just don’t take it, you’re gonna have to be persistent in order to get any results. So yeah, you should take it, it’s what you said at the beginning. Or you should assume that they’re not going to respond and that’s normal, and has no reflection on if it’s a good or bad person. When you start, it’s pretty judgmental to say he’s a jerk, she’s an idiot, because I sent her three emails, and she didn’t respond. So I think I think you got to, you got to take all that emotion out of it and I think that’s first…”

Evan Colborne:

45:53 

“And then so one of the key words I think you mentioned there is, is persistence. So it can be a bit of a scary word sometimes. So how do I know if I’m being too persistent?”

Cary Kaplan:

46:05

“Yeah, so there’s a simple thing, yes or no? Right? So, you know, pretty strong things that never give up, well, until you get it, you know, the caveat at that bottom would be until you get a no. When a company has said to you look no we’re not, we’re unequivocally not interested, or there’s no budget or call us next year. Okay. But never give up if you don’t have an answer, because oftentimes, it’s a company that’s just very busy, and you’re not a priority, but they might still be really interested and this assumption that somebody’s not interested because they haven’t respond. By the way, most of you are thinking, I called them 10 times and they didn’t respond, therefore, they’re not interested. You’re totally wrong. There’s at virtually non existent correlation for interest level and, you know you’re not saying to somebody you want a car. If you want a car, and it’s legitimate. Hi, this is Toyota. You want a car. Okay, call back. I’m not saying when anything, we’re not going to call you back quickly. You’re not a priority. They didn’t win a car by calling you back. So yeah, it’s going to take time and that’s normal and don’t take it out on them for not responding to you. They haven’t said, they’re still the same probability to a yes the first time you called them. So again, it’s a really strong point, because so many people get that wrong and yeah, persistent and polite. We use a term here that if you’re persistent and rude then you’re going to be perceived as rude. But there’s this common thing that I’m driving them nuts, you’re not driving anybody nuts if you’re persistent and polite, they’re just busy and eventually, they’re going to respond to get back to you. They may have an interest, but you have to be again, and you have to take no, when there’s a no that’s different, everything changes then if somebody persistent and there’s a no, but again, I know there’s different avenues you can go here.”

Evan Colborne:

48:21 

“So yeah, I mean, really, you know, best case scenario, you get a really positive response from that email, and you schedule your meeting and great and then you don’t get a response and it’s all that persistence that we just talked about, persistent and polite, but continuing until you get some sort of indication then yes or no. So what, I guess in a scenario where someone does get back to you and says, you know, it’s just not a good time.”

Cary Kaplan:

48:44 

“Yeah, I think if somebody So first of all, you have to be ready with and, you know, we’re not big on scripts, per se, but I think you have to be ready with how to handle common objections. So common objections are you caught me at a bad time, I’m not interested, we don’t have a budget. So if somebody says, you’ve caught me at a bad time, you can start with sorry, that’s a really good way to start. So first of all, disagreeing and arguing is not going to get you anywhere. So if they say, sorry, you called me at a bad time and you say oh I’ve tried calling you at every time a day, you’re done, you might as well hang up, you’re not going to work with this person. So arguing you’re going to lose if even saying something another line that’s really bad is oh, you’re so hard to reach I can’t believe I reached you, terrible. That’s, that’s an affront to them that they’re hard to reach, which is a negative and that you should be a priority. So to your question, if somebody says, it’s a really bad time you say, really sorry, when would be a good time for you and what I throw in sometimes I’m available anytime. So this is an important lesson for everybody here you need to be available 24 hours a day now, seven days a week. Sounds crazy, right? So I haven’t had in 20 years anybody told me can you call me at two o’clock has not been yet maybe one day, it’ll happen once but by me saying I’m available anytime. Usually, it’s a normal once in a while, there’s a Saturday morning at 10 o’clock call. And I make sure that my personal schedule allows that and I juggle out and I take a call from 10 to 10:15 on a Saturday and that’s important. If you want to be doing this, you have to be open to understanding that 90% of and where it really gets so that seems about where it gets tricky is if you say when’s a good time and they say Friday and you say oh that’s my holiday. I’m off that day. It’s a really bad answer. So there can be an answer saying, an answer could be this Friday is really tricky for me. How’s next Friday? The point is, find a solution. It’s about their schedule, not yours and people tend to have this nine to five mentality. So again, I’m saying two points. I’m saying say when’s a good time but be flexible, don’t be rigid based on how their answer, what their answers going to be.”

Evan Colborne:

51:27

“I guess the the fourth scenario that we have here is just, you know, they just say no, they’re just not interested. So how do you deal with that?”

Cary Kaplan:

51:33 

“Yeah, I think there’s two ways I think there’s at some point usually it’s probably too no’s to me. I mean, I think if somebody says a couple no’s and then it’s thank you very much as you can see there. I think if somebody says, No, I’m not really interested. A good comment would be no problem or sure do you mind if I asked why? Get all kinds of answers. So one answer might be we just don’t, we have no money. We don’t do anything like this. It might be I’m leaving my job in a month. It might be our budget’s spent. Can you call me in January? It might be actually it’s a really bad week. So on the first no, we’re no we’re not interested a really good response is do you mind if I ask why? Like do you mind if I ask I we use terms for the cushions like cushions the blow, do you mind if I ask why is a lot just think of the difference right no we’re not interested, why? Because we’re not goodbye. Like it’s harsh Do you mind if I ask why is asking their permission to ask them do you mind if I ask you. A lot less time you will get we’re just not interested, you will get that sometimes but and then I think it’s on that second no that it’s a thank you but very often I wouldn’t say 50% of the first no’s aren’t long term no’s. There’s gonna be a reason, they’re saying no for a reason why, what’s the reason? I called about something what’s the reason? We don’t do that, I’m not in sponsorship ,and then take those why’s and you can turn them in different directions and that’s where more so than a script what I recommend is that people have like flash cards on the wall in their office knowing how to answer questions so if somebody says not interested and you have a couple words that say do you mind, like not interested in you have do you mind if I ask why that’s a great thing on your wall, no problem do you mind if I ask why because then you’ll go to that after you do it after you’re doing it for two weeks or a month you’ll take it off you wall because it’ll be you put something else on there that is a little more confusing but that’s a lot better than a script just some prompts to keep you on target and then when you get another big objection somebody is like I don’t want to sponsor because I don’t like hockey. How do you answer that? Oh I understand that do you mind if I ask why and then or what don’t you like about hockey, do you mind if I asked what you don’t like about hockey? I don’t like I just not my sport or I’m not into sports. Well, no problem just wondering is there anybody that you work with that might be into hockey so there’s a path that can get you back there and just you know, I think you gotta, experience is important on this one.”

Evan Colborne:

54:35 

“So got a couple minutes left here. So do want to get to some q&a. We talked a lot about emails and forms. Phone might be another method that a lot of people like to use, same kind of premise, same kind of formula you want to you want to try to use you’re trying to call someone directly. So not calling the company and asking who’s in charge of sponsorship calling, and asking for John or Susie, or whoever it is that’s in charge that you already knows in charge because you’ve done your research or you refer to that person. So calling someone directly, if you are calling in lieu of that introductory email that the goal of that phone call is to set up a meeting or a phone call where there’s an agenda. So most people don’t necessarily like to be caught off guard with an incoming call. So you want to give them kind of the, you know, the politeness of offering to, you know, schedule another time when you’re both kind of ready with an agenda and then voicemails, again, the goal is not to pitch on the on the voicemail, the goal is to get a call back. So you want to keep it short and simple and just try to, you know, encourage a call back as opposed to kind of pitching the whole thing on a voicemail.

So last thing before we just get to q&a. So just one kind of hack that we can we can offer. So we mentioned LinkedIn and we mentioned Google as you know, tools you can use to prospect and research and everything HubSpot is a great one that’s can is a plugin for Gmail can help you let you know if people have opened your email on a personal email. So not like a constant contact from a MailChimp email service provider that where you can kind of mass email, but this is really on a one to one basis. So, great tool, great thing that you know, hasn’t always been around. So you can see, you know, I’ve sent this person five emails, they haven’t opened them or what’s even better, you know, sent this person five emails, they have opened them, but I haven’t got back, I haven’t heard back from them, maybe I got to change things up and try a phone call or something too, because there seems to be a little bit of interest there. So, I recommend people check that out.

So that wraps up the the content for today. So key takeaways, you know, but finding the fit for a company, making sure that you’ve got some idea of that there is some initial fit as a reason for why you’re reaching out, find the right people leveraging your network, pretty unlikely that you’re unable to find any connection to a company you’ve identified as a potential fit. So if it looks like there isn’t a connection, keep going. There’s someone, there’s some connection somewhere and keep in mind that the goal of this outreach, all this outreach we talked about today, the emails, the phone calls, all that it’s all about trying to get that meeting trying to it’s not about getting, you know, it’s not about pitching in the email. It’s about pitching on the phone. It’s about trying to get a face to face appointment and that’s really what our next episode is going to talk about is that first face to face appointment where again, it’s still all about them and learning about their business but now in in a face to face context and that’s what our next episode’s going to be about. So with that, we’ll turn over the last couple minutes here to q&a.”

Rebecca:

57:48 

“Yes, so our first question comes from Katie and she asked, what are some ways you can convince a prospect to meet with you after they told you to fill out a form?”

Cary Kaplan:

57:58 

“Okay, so first of all, I know we’re three o’clock so I’ll try and do some quick bullet answers to a few questions anybody, people can stay on for a few minutes, that’s great. Um, I would say, if someone tells you to fill out the form, you have to assume that they’re not going to read it. So that’s a first step in the process you can call or email and say, Hey, I filled out the form and you can have a with you and say, fill out the form did you get a chance to look at it. But I think you still go back to your original concept of wanting to set up a meeting and you should want a meeting. So if you’re afraid of a meeting in person, you’re in trouble, you’re not going to sell much sponsorship over the phone or via email. So a lot of people hide by filling out emails or forms. So I would say the forms aren’t doing much so it’s a smokescreen. It’s more or less like you telling somebody that you’re not interested in something, send me an email. So I think you got to kind of continue to go forward.”

Rebecca:

58:56

“And the second question is, if a lead dies, essentially, what is the process for reaching back up to them in the future?”

Cary Kaplan:

59:04 

“Okay, um, I think you know, your CRM system’s important. So have a database system where you, not a spreadsheet, so everybody should have, there’s a lot of free versions. Now, you can have a database system, which is more efficient than a spreadsheet for you to have that keeps those names and it’s not easy to do. And people you know, I think, but putting it in a calendar to say, look, I should reach back out in six months to a year, they’re very few situations where a company even though they say no to sponsorship, that you can’t reach both back in a year, things change, a lot of companies change their objectives or the direction so it just sort of putting it in a in a calendar to reach back.”

Rebecca:

59:48 

“And then our last one from SMS net, what ultimately is your recommendation as a workaround for again, companies who want you to complete a form they mentioned with the oddest understanding that emails and calls are frequently ignored.”

Cary Kaplan:

1:00:02 

“Yeah, so sorry, are they saying that the calls and emails are frequently ignored? Okay, so good, they’re gonna be ignored. So I think you have to still be persistent. So I think you can again, it doesn’t hurt to fill out the form. So if you know, I still coming kind of say the forums are, in essence, pretty useless, but as a service, so if they ask you, did you fill out the form rather than saying no, doesn’t hurt to say, Yeah, we did fill out the form, but I haven’t heard back and I’m wondering if you had a chance to read it or we, and I think it’s still going back to the same concept, we’ve talked about your ride for heart, or we’ve talked about, you know, talk about some of the things they do. So I think, again, don’t get stuck in that place. It’s a very easy out for them to say, you have to get past that. The good thing is probably six out of 10, people will just fill out the form and walk away. So I think it’s on you to say like, I’m not going to be satisfied with filling in the form. I did it. I did, I filled out the form and questions have you had a chance to look at it? And most of the time, you’ll get a no. So if you’re persistent and polite, eventually, there’s more likelihood you’re going to get the time of day.”

Evan Colborne:

1:01:16 

“Alright, well, thanks very much everybody for participating in our episode three today. Next episode is in two weeks, same time and same place. So Special thanks again to Central Counties Tourism and Sport Durham for putting on this webinar and allowing us to host it and again any questions that we didn’t get a chance to answer or if any questions come to mind after we wrap up today, please feel free to email those to us. You can find our emails on cosmossports.com.

Thank you very much, everybody.”

Cary Kaplan:

1:01:49 

“Thank you.”

1:01:54

Categories
Blog

What’s Your Sponsorship Worth?

BLOG

WHAT’S YOUR SPONSORSHIP WORTH?
WHAT'S YOUR SPONSORSHIP WORTH?

By Cosmos Sports | September 9, 2020

Reading Time: 45 minutes

In a 10 part episode series, our experts discuss the different tools and tactics to acquiring sponsorship. Episode 2 is all about what your sponsorship is worth.

What’s Your Sponsorship Worth?

Evan Colborne:

0:00 

“Good afternoon, everybody. Welcome to Episode Two of our corporate sponsorship webinar series. My name is Evan, this is Cary who’s president of Cosmos Sports and Entertainment. So again just before we get started, just a couple housekeeping items, very big thanks to Central Counties Tourism and Sport Durham for hosting the webinar series and giving us the opportunity to put on this workshop. So thank you very much to both of them. Again, if the slides are a little bit difficult to see we’re going to make all the slides available to anybody who’s registered for the webinar afterwards. So if there’s anything that you can’t really see on the on the slides or if you want to just listen and not worry about taking notes you’ll get all the slides afterwards as well. QA, so we’re going to spend the last few minutes of the presentation doing some QA, please feel free to submit questions at any point throughout the presentation. If you’re looking on the YouTube page in the top right corner there’s a live chat box that you can submit questions to Rebecca our colleague is here and she’s keeping an eye on all the questions and and we’ll try to address all of those at the end of the, at the end of the webinar. If for whatever reason a question comes to mind after the webinar is done, something that didn’t really make sense or that you’d like to, that you’d like to clarify with us please feel free to to send us an email, if you go to cosmossports.com and look at our staff page, Cary’s email’s there, my email’s there, or you can email info@cosmossports.com. Happy to answer any questions or clarify anything from today’s presentation. So with that, we’ll get into episode number two.

So, episode number one a couple weeks ago, we started off the webinar series talking about what sponsors want and really trying to understand exactly what their objectives are, how to understand when they say things like awareness, what does that actually mean? And how can we as properties in organizations that are selling sponsorship, how can we deliver to the level of service that they’re looking for? So the next kind of natural question once we’ve answered that question of what sponsors want is what do we have to offer them and that’s really what we’re going to get into today is how to identify all the opportunities that your organization has from a sponsorship standpoint, and how to get a ballpark anyways, at least of what’s that worth, and how much should I be charging for this?

So Cary, just I guess, just as a kind of a start, I mean, this is a question that were asked quite commonly and I can say, you know, even for myself starting out in working in sponsorship, and a lot of our staff that start out working in sponsorship, this is just a real question that people don’t necessarily have a very straightforward answer to. So why do you think it’s such a common question?”

Cary Kaplan:

3:07 

“Well, I think it’s confusing. I think for people who haven’t been in sponsorship, it’s and it really is just like advertising. You know, somebody could say, well, what’s it worth to buy a quarter page ad in a newspaper? What’s it worth to buy a space on a Facebook page? What’s it worth to, but that’s a tricky thing, especially for people who haven’t done it. So really, there’s a, it’s an important exercise to figure out like, what what do we have? What is the available inventory? And I think it can be at first it’s kind of intimidating, which is, well, how would I know what a sponsorship package or somebody buying a sign in our arena, how do I know what that’s worth and I guess what I says everything’s priced like that. How do you know what a coffees worth? Right? You know, it’s sometimes can be a little easier when you buy something for $2, and you think, okay, I bought it for $2, I could sell it for $4. If you didn’t pay the $2, and you’re trying to determine what to sell something for, which is a service and you haven’t gone through that exercise it it can be hard sometimes or it’s a product, but it doesn’t have a hard intrinsic value.

So anyway, just say it is important for those who think it’s confusing or tricky, or they haven’t done it. I think you’re not alone. I think it’s it’s an important part of the process. But it’s not always straightforward.”

Evan Colborne:

4:30 

“For sure. So with the the appreciation that it you know, it’s a tricky question for a lot of people to answer and we’re going to go through, we’re going to discuss kind of both sides of how to value sponsorship from a little bit more of an objective standpoint and then trying to get a little bit more of an understanding the subjective and really what drives the value of sponsorship, because as Cary said, it’s not as simple as what the cost was to produce it and then, you know, putting in a healthy margin, it’s a little bit more abstract than that. So some of the hopeful takeaways that we want everybody to take away from today’s webinar. First, is we’re going to go through a fairly step by step process on how to identify the assets that your organization has, and how to at least get an initial ballpark value of what of what you could price tag that you can put on those on those assets, we’re gonna, again, we’re going to look at it from an objective and subjective standpoint, trying to understand, you know, from from a subjective standpoint, what drives the value and how that value changes based on who you’re selling to. And lastly, we’re going to talk about just how to articulate that value to a sponsor. So touching on the topic that we’re going to be addressing later on in the webinar series. But once you’ve understood all the assets that you have, how do you articulate that to a sponsor to really show them the value of those lessons.

So to start off for just before we get too far, and we just wanted to clarify some language that you’ll hear us kind of using and want to make sure we’re all talking the same language. So we’ve, we have an example here of a client of ours, the Brampton Beast Hockey Club. So there’s different terms that you’re going to hear us use and we wanted to clarify those here. So first, you know, organization, I mean, very straightforward, just your company, or in this case, in our example, here, the team itself, the Brampton Beast are the organization. But looking at it from a sponsorship standpoint, we break down that organization into different properties. In the case of the Brampton Beast, there’s the in arena assets where the pro hockey team actually plays, so there’s things like rink boards, backlit signage, and there’s video board. So there’s all those assets that happened in the arena. So we put those as one property, there’s the team’s website, and the team’s social media, and the team’s app, and things like that. And we lump those together into a digital and web property. And then third, and in our case, teams lucky to have the rights to the community rinks at the Powerade Center as well. So an additional three ice pads with their own set of assets and so we categorize that as its own third property.”

Cary Kaplan:

7:07 

“And just what I would say, this applies, you know, I think some of the examples, you can look and say, well, we’re not a hockey team, I was a supply I think, in general, there you have in facility, you have properties related to your entity itself. So if you’re having a festival or an event, there’s the properties attached, or the assets attached to the event itself. There’s the online corollary assets, what’s the digital and online and then the third element, which we put community here is, are there any tertiary assets that are in addition to the event itself? Maybe the facility. So maybe if you’re running an event facility, you could look and say, okay, the festival assets, but are there any facility assets are above and beyond that, so really, it’s saying your entity itself, your online component, the people that aren’t physically there? And then the third one is service or anything can you go above and beyond that, is there anything tertiary additional that makes sense?”

Evan Colborne:

8:05 

“Yeah, and this is, again, the way of breaking down organizations into properties, again, it is very organization specific. So, each one’s going to have a slightly different breakdown and it really is based on preference. In this case, with this example, we wanted to share these three, but could look very different for your organization. So for each of the properties, each property has its own set of assets, and there could be some crossover. So, you know, the community rinks and the in arena and our example here, both have rink boards as an asset. So the assets are all the all the things within that property that you can leverage for sponsorship. So just right off the bat, we just wanted to clarify that language, because you’re going to hear us using the words assets and properties throughout the whole presentation.

So if you’d like to, and you may find it easier to do so with the recording of this webinar. But again, as I mentioned at the beginning, we’re going to go through a step by step process of how to identify and value assets and we’re going to be using a spreadsheet to build out what our final product is, which is a populated spreadsheet with all the assets divided into properties with benchmark values, and reach and descriptions and all that kind of thing. So, if you want to follow along and do the steps as we go feel free, you may find it easier to do that afterwards. The reason that we do this, in this kind of being part of that objective process of valuing assets, is one, it helps keep the team organized so you’ll know what inventory is available, what’s what’s been sold, you’ve done the homework of kind of what’s it worth, and particularly in situations where you might have more than one person who’s actually selling assets, having a listing of assets with kind of rate card values to them, helps make sure that similar assets are not sold for vastly different amounts. So it kind of keeps pricing a little bit more consistent.

Right so the first step when it comes to identifying opportunities, and identifying assets is actually kind of a fun activity, and gives you and your team an opportunity to be really creative. And it’s really, you know, whether it’s a whiteboard or flip chart or something, it’s pulling the team together, and trying to think of all the places that are related to your organization and your properties where a sponsor could be recognized. So a kind of an easy way to kind of think about it is, you know, where can we put a logo, or where can we recognize the sponsor, and really just listing all of those out, and you want to involve a lot of people from, you know, if you’re in a bigger organization, you may want to involve people from different departments, if you’re, you know, in a smaller organization, really, you know, it can be fun to involve the whole team and, come up with all the different places where sponsors can be recognized. You may find it easier to list out the assets first and then looking at your list of assets, you may find, okay, there’s natural groupings for properties, you may want to identify those properties first, and then build out the assets from there, it’s really, really a preference thing. But you want to build out this initial list anyways, everything, all the ideas that you can think of, and get them out onto paper or whiteboards.

Now, this example here, you know, not by any means meant to be exhaustive, or anything like that it’s, and there really is no end to the number of assets you can list and so you don’t want to get hung up on getting them all down on paper right off the bat, you want to be flexible, and leave some room for creativity to create some new assets. So Cary, I know you’ve had some, some examples of where even in a meeting, you know, maybe an asset wasn’t identified but in the meeting, you know, an idea comes up from when chatting with a sponsor and all of a sudden, you have a new piece of it.”

Cary Kaplan:

11:54 

“Yeah, and I think we talked about one of the themes that you’ll get for those who are at the in person presentation or online is that it really is about the customer. So in the sense when you’re, you know, I’ve been in a situation I think the one that I like is, if any of you work with waste management, or there’s company called Miller waste, or 1-800 junk and I was in a meeting one time looking at, you know, an arena was actually a tour of the arena looking at all kinds of different assets and discussion came out about the garbage cans. Now, you don’t think in an arena the garbage cans as an asset. Well, if any of you are on this call, and you’re talking to 1-800 junk, for instance, my guess is they’re gonna be more interested in the garbage cans and anything else you have in the building. So can they sponsor that? And that’s sort of a discussion that asked, you know, but you really have to get to understand the company. If you’re really listening, if you’re an active listener and understanding what’s interest, you know, of interest to them, you’ll different forms of inventory. I’ve seen railings on escalators as part of inventory, or floor space or stairs or we do something in Kitchener where the Pita Pit sponsors the penalty box, because it’s a pit and it relates to their name and if you don’t think of that, they probably wouldn’t be sponsoring the team at all if they weren’t sponsoring the penalty box. Well, that’s not a defined asset it’s not even the signage, it’s in the, It’s the penalty box itself. So really go back to listening and, you know, a lot of times inventory could be created on the fly. But don’t don’t expect Pita Pits going to come up with the penalty box that’s on you, the person who is listening, that’s your responsibility. Be creative. Don’t expect that 1-800 junk is going to come up with the garbage cans I did. They’re not in the sponsorship business. That’s not their job to come up with creative forms of inventory. But by listening, Swiss Chalet sponsors the chicken dance, I’ve talked about Brampton Beast, at Brampton Beast hockey games, it’s not random that they’re doing they’re not sponsoring, you know, another song. So I think and they’re, you know, they’re willing, they can relate to that, and you’re willing to invest money in that type of inventory.

So I think, again, it’s have some fun with it, but also be open to creative inventory that matches specifically with the company than the mistake on a lot of these asset valuations is they’re too generic, gold, silver, bronze ABC, the company doesn’t generally care about that. So it’s a starting point and I think that’s part of what taking inventory is about, it’s a starting point, it’s a benchmark, but it’s very rarely the ending point and I think that you can get caught up in, so maybe another, build a gold package, but don’t expect anybody to buy it. So I don’t know for anyone listening, that’s a pretty important point, don’t expect anybody to buy it as written, it’s not, you know, be flexible, that you have to have it, and you have to build it, but, you know, people are going to take something from package a, and something for package b, and something down here, something that wasn’t even on your menu. And that’s typically what good partnerships are all about.”

Evan Colborne:

15:26 

“So really keeping in mind, you know, tying it back to their objectives and you know, making sure that it really does align with what their objectives are, can’t go a little bit crazy with, with the inventory and, you know, listing things that really don’t accomplish their goals, right.

So at this stage, if you’re following along with the spreadsheet, you wanted to kind of look something like this. So formatting, so the orange bar at the top, just your organization name, pretty straightforward, you know, yellow, your kind of sub dividing your spreadsheet into your different properties that you’ve identified. And then quite simply, here, you’re just listing out all the assets that you and your team have identified, and providing a little bit of a description for each one, just so you know, for future reference, kind of what it is. Great.

So now that you have a full list of all your assets, and you’ve divided them into properties. Now comes kind of the fun part of trying to understand a little bit of what each of those assets is worth. So we’ve, as a starting point, we’ve provided a bit of a guideline that you can use just for more so for quick math kind of purposes. So not over, not getting overly in depth into valuing each of the the assets but really, if you’re just trying to figure out quick math, am I even in the right ballpark?

So the first at the top there any paid media, so you may have cases where the local newspaper, you either purchase media from them, or they donate it in kind to your event. So they’ve already kind of done the work for you in that case. So you want to use the kind of the retail rate that they’ve set for their media. So if you’re promoting your events, and you are attaching a sponsor to that, that newspaper ad is $500, for one sponsor to be recognized on that newspaper ad is $500. So pretty straightforward there. And then if you’re going to include multiple sponsors, for each sponsor, the value goes down slightly, because they’re not as exclusive anymore. So, you know, quite simply, if it was $500 for one sponsor, and you have two sponsors $250 each is kind of a good place to start anyways. With your owned media, so the things that you are in direct control of, so things that are at your event, whether it’s signage or pa announcements, your website, things like that, a good guideline to start from is about a penny per impression. So we talk here in terms of a per impression and we’ll touch on it a little bit later as well, but, you know, CPM is another term that you that you may hear and quite simply all CPM is just cost per thousand and that’s a very common term and advertising and sponsorship depending on your organization and the size of your audience and your reach you may find it easier to figure out a per impression rate if you’re talking about thousands and thousands of people you might find it easier to talk in terms of a CPM for math purposes but a good place place to start…”

Cary Kaplan:

18:22 

And the M by the way is a thousand in Roman numerals. Some people, it sounds obvious but it’s always people saying why CPM and not CPT.”

Evan Colborne:

18:31 

“So a good place to start anyways, is that is that penny per impression. So I know when I first heard this, it seemed a little low to me and I think for a lot of people that hear at first, you know, a penny might seem a little low to them as well, you know, we don’t even use pennies anymore. So what are your thoughts on that Cary it just?”

Cary Kaplan:

18:58 

“Well, I mean, it’s an impression, you know, impressions of very loose, you know, I don’t think it’s too I don’t think it’s low. I think if, you know, I think it’s where it should be, I’d probably, if I had to pick one, I’d probably say it’s high. But I wouldn’t say it’s low. I think that, you know, when you see these numbers, you know, Facebook numbers and, or website numbers, and we had 623,000 impressions, you got to realize what an impression is, it’s literally there’s no activity, there’s so it, you know, I think the next steps of it are people views, clicks, opens, there’s other elements, you know, how many people are engaged and looking and, you know, there’s, there’s more far more advanced analytics, the average, what’s the average person a time, you know, time someone’s looking at an ad, or on a website, or, to me, I think the number’s right because you’ve got to get, you know, it’s the beginning of, it’s a very beginning of a process, you’ve got to get a lot of impressions to get somebody to actually make a buying decision, right.”

Evan Colborne:

20:04 

“And one thing to clarify at kind of at this point before we kind of get too far is that this initial evaluation process is really about the media value, we’re going to get into what kind of differentiates your media versus buying a Facebook ad, or buying display ads through Google or things like that. So right now, we’re really just kind of talking about how to value that the media

Just to provide a couple kind of examples of some really common inventory or assets that a lot of people that are on this call will probably have with their events, website, you know, first and foremost, websites, in general, you know, can range anywhere from you know, less than a penny per impression to 13 cents per impression is kind of an industry standard. Again, you know, might be a little bit tricky to see on the slides here but we’re going to be sending this out afterwards and so you can use it for reference purposes. But the thing to keep in mind with, you know, with website in particular, is that it’s not so much about what’s your total traffic to your site, it’s how much traffic and unique users are coming to a page in particular that you’re sponsoring. So if you’re going to sell a native ad on your homepage to a particular sponsor, you want to look at how many unique users are you getting to your homepage, not necessarily what the total web traffic is going coming to your site.

So pa announcements or another really common one, again, you know, a range of somewhere from less than a penny up to seven cents per impression is an industry standard for pa announcements, keep in mind, again, trying to value that based on how many people actually are likely to hear the pa announcement, as opposed to what the total traffic through through an event is.

Product sampling is another very common one with events and festivals and, you know, properties that are selling 10 by 10 spaces, things like that. So those tend to range anywhere from 5 to 20 cents per sample again, as an industry standard, you know, on the higher end, if it’s a little bit more targeted on the lower end, if it’s, you know, something like a an exit sample where everybody that’s leaving the event is getting the sample.

So property publication, a lot of properties will have a program or something like that, where they recognize a lot of their sponsors, very common. So again, that one’s going to range anywhere from kind of less than a penny to seven cents per per impression.

On site signage, very similar, I assume pretty well, every event that’s on the call here probably has a signage as an asset and an inventory. So again, somewhere in that kind of less than a penny to seven cents per impression is the industry standard anyways, so.

So using kind of those industry standards, using your penny per impression as a bit of a benchmark, you can start to develop a bit of a rate per impression, or CPM for your different assets and that really is kind of the first variable in the equation of trying to understand what all your assets are worth. The second is the reach and how many people is that is that particular asset reaching and that obviously, that’s going to have a big influence on what a particular asset is worth. But in the previous slides, we were talking a lot about, you know, different ranges for values on different assets so, obviously, you know, the people that are on this call want to, they want to try to generate as much value out of their their sponsorship assets as they can what sort of factors do you think kind of can influence that value so that they can get on a little bit higher end of that that range as opposed to, you know, on the lower end, where you’re kind of talking less than a penny or so.”

Cary Kaplan:

23:49 

“You’re saying from a subjective or objective standpoint?”

Evan Colborne:

23:52

“Well, both I guess.”

Cary Kaplan:

23:54 

“I think, subjectively I think that the question is, what is an impression really, what is the value that people are getting from it, I mean, I don’t know, if I know what you’re going to talk a little bit about the concept of loyalty, I think that sometimes being a smaller event, and, you know, I know a lot of people on the call may say, hey, we’re a smaller event, it’s just me, it’s just two people, you have a big advantage, you may think you have a disadvantage, you have a big advantage. And the advantage is by having less sponsors, or less people being inclined to be involved and also potentially being able to get more out of it, there’s a tendency to have a high level of loyalty and loyalty makes each of those impressions more valuable, if people are going to be at, you know, a fair that you have, and there’s only two companies that are there, people are going to feel pretty good about the fact that a business has stepped up and got involved in that library initiative, or entrepreneurship event, or whatever that would be. So I think loyalty is a factor, I also think duration’s a factors. So, you know, is an impression, what’s the length of time an impression is? Is an impression one minute or one hour? And they’re very different. So if somebody you know, is it’s sustainable. A sign at a basketball game that somebody’s looking at, for two hours, that’s a pretty powerful impression, as opposed to something that, you know, you may turn by, in a news literally, in an old school newspaper, scroll on your iPhone and see it for a second, so says a lot of apples and oranges there. So I think, you know, sustained, duration, loyalty are a couple of factors that definitely played, right.”

Evan Colborne:

25:58 

“So with the reach, you know, some assets are going to be a lot easier to measure the reach and we talked about the website before, very easy to know exactly how many people are coming to a website and seeing a particular page, you know, things like signage, a lot trickier. So in those cases, you know, an educated guess, I guess it’s probably best to determine kind of what the reaches.”

Cary Kaplan:

26:26 

“Yeah, you know that’s a really good point, like, people are very sort of terrified of making educated guesses, you know, terrified of the concept of projections, and you do it all the time it’s predicting a score in the Super Bowl, people aren’t afraid to say, what’s your prediction, I predict it’s going to be 30-23, they don’t panic, don’t say, well, that’s crazy. I don’t know what the score is going to be. It’s a stupid question. You can’t ask me. I’m not going to answer. Well, what’s your projected attendance at a festival? Well, I have no idea, how can I project? Well, you had 20,000 people last year. Well, but it could range, it could. But you have a bunch of factors that predict that and use the word approximate or estimate. So you can make all kinds of estimates, you know, what’s the value of my sign or what are the impressions? Well, it’s approximately, approximate’s a great word, approximate has a lot of range to it. Estimate, I predict, I project, it’s approximate. You’re on solid ground but I think one of the problems a lot of people have, and seeing a lot of people on the call here is by being afraid to answer the question sponsors aren’t interested, if you want to know a really quick way for companies to walk away when you say, how many people are you going to have, you guys are doing a new event how many people are you going to have there? And the question will be asked that way, how many are you going to have? Tendency is to say, I don’t know, I’m not sure, or give a very vague range, oh, we could have any amount, it’s the first time we’re doing. Terrible answer. The answer should be, we’re gonna have approximately 12,000 people, so or 6000 or 2000, whatever the number you think, but that’s the right answer. You want to be definitive and concise. But leave yourself room and not exaggerate, but leave yourself room to say, or if things go well, we’ll have 12,000 people, or, you know, based on past, you know, use those other words, but I just think people are very fearful of projections and predictions and it costs you money. By not projecting or predicting results, a lot of your corporate partners are going to say, no interest, you guys can’t even, you’re not even comfortable saying what you expect is going to happen here. And I think people are very again, reluctant to do it, it’s similar to a budgeting process, it’s an exercise, you know, just go do it, right. So…”

Evan Colborne:

28:47 

“I know on the digital front as well, in some cases, you know, branded content on Facebook and things like that are, are identified as assets nowadays, and sold and in one way, very similarly, you can kind of go about doing that is looking at similar posts that you’ve had in the past, and kind of what the reach was of those those posts. And then if the if the sponsorship includes 10 posts that are tied with that sponsor and, and around that program, then you can just kind of multiply out and use that as a bit of a projection. So again, as Cary mentioned, there’s ways to make an educated guess. But it’s really important to, you know, progress the sponsorship process, otherwise, you kind of get stuck at…”

Cary Kaplan:

29:31 

“Yeah, and it’s an educated guess it’s not a guess, it’s educated. You guys speaking, you know, they’re here have a huge education on your own property and event. So when you make a prediction, it’s educated, but make a prediction. And sometimes you’re going to be way off, so that, so be it. But, you know, you’re more likely than not going to be relatively accurate and, again, companies are looking for decisiveness they’re all looking for some for indecisive or vague and again, I hear that a lot, I hear a lot of companies, a lot of events and organizations are are terrified to come up with predictions and productions. And it’s to their own detriment, right.”

Evan Colborne:

30:23 

“So up to this point, you know, we’ve talked about developing a bit of a CPM, we talked about trying to define kind of what the reach potential is. So your spreadsheet is now starting to look a little bit like this, it’s populated with your benchmark rates, your assets, your descriptions, and you’d fill in the next column there with with your reach. So that’s really that’s two of the variables that go into determining what the value of a particular sponsorship asset is.

The next, and this is really kind of the full equation here, the third one that we haven’t talked about is brand value. And that’s the third variable and the one that’s a little bit, it’s more unique to sponsorship than advertising. Advertising is primarily built on CPM’s and reach and if you think of things like Google display ads or outdoor ads, you’re buying them because you’re reaching a large audience, you’re not necessarily buying them, there’s not really as much loyalty to a particular brand. Buying outdoor advertising through Pattison versus Astral not really a big difference when it comes to sponsorships. The more unique part to it is that there’s that brand value of the property that you’re sponsoring.

So the first two, you know, first two variables, a little bit more objective you know, you can look at things like benchmarks and industry standards. You can do your best educated guesses on reach and things like that but brand value really gets into that more subjective and how I mean how do you try to determine what’s our brand worth and how is that elevating the value of our sponsorship assets.”

Cary Kaplan:

31:59 

“l think loyalty’s you know, again we talked about earlier, loyalty, you know NASCAR’s sort of known for this, if Jeff Gordon drives a Tide car, his fans use Tide, they won’t use Cheer. Now you think, well, that’s ridiculous, how would they use Tide? What if they don’t think it’s a good product? They don’t care if it’s a good product. They’ll assume that if Jeff Gordon’s using and it’s a pretty good product and most products in general are pretty good. But there’s a real what’s the, there’s a real brand value to NASCAR that it has a direct return on investment for people that are tied into it and the same thing, two different levels of extending, It’s your point, someone’s not going to invest in a company because they bought an ad on a particular Billboard. It doesn’t even make sense to say, Oh, well, I’m gonna go to that restaurant because I like Pattison and they bought a Pattison billboard, it doesn’t make sense. But because we’re in, you know, the entertainment business, there’s people that have an affinity or get attached to your brand and ultimately they’re gonna, that’s going to impact decisions. And there’s activations on site and there are certain giveaways and there’s sampling and there’s booths and there’s all kinds of things that allow connectivity, an ability for companies to showcase that. So there’s lots of things that you can do an event event with sustained period of time and people are there that sort of help define what that brand value is. And it is something different. It really is hard to say that again, radio or newspaper and it’s why sometimes on radio, you’ll have a, some of the most effective ads or you’ll get celebrities that are speaking, you know, Matthew McConaughey he does car ads, Derek Jeter did until Gillette ads for a while, they do that, you know why are these companies, why is Tim Hortons spending millions of dollars to have Sidney Crosby. They’re not doing it for their health, they’re doing it because the belief is that if Sydney, if Tim Hortons, if I likes Sidney Crosby and Sidney Crosby likes Tim Hortons therefore I should like Tim Hortons and there’s long history of proof that that works. So again, there is you know, and if you don’t have access to Sidney Crosby at your festival, the fact that people love the Winona Peach Festival, that can be enough, that if I love the Winona Peach Festival, and there is a company that is selling, you know, Telus is sponsoring Winona Peach Festival, well, maybe I should like Telus and plus you’re in a good frame of mind when you’re at that event, you’re having fun, you’re doing a lot of other things that may be conducive to buying a new cell phone.

So and I know I kind of answered it in five different ways there but I think that it’s important that you guys understand, and I’m biased. But I think there’s a lot more brand value and the things we’re talking about. I’m a big believer that sponsorship is generally a really good investment. If you guys as events make sure you deliver as opposed to some static advertising. And by the way, including online I generally think sponsorship and a lot of ways is better than advertising on Facebook because Facebook is no different than advertising in the Toronto Star in the sense it’s not loyalty very few people are going to say well I love Facebook and I saw an ad on Facebook therefore I’m going to buy those cosmetics it doesn’t tend to go that way but again you become a fan of a team or an event there’s a direct connection so I think in this area that brand value’s really important it’s real, it actually has, affects buyer behaviour.”

Evan Colborne:

36:06 

“Another one we were talking about before we came on was targeted and niche and I know you were mentioning example with the Toronto Rush and how you know, because it was so niche and targeted that you know brands could see the real value.”

Cary Kaplan:

36:20 

“Yeah so we work with, we helped start Ultimate Frisbee. So I know some of you guys may play Ultimate Frisbee and we were involved about five years ago in starting the ultimate frisbee league throughout North America and Toronto Rush, one of the marquee teams and so from day one very few sponsors and then Telus came on in a big way and people that played ultimate talked about how cool it was that Telus was associated with Ultimate Frisbee and they felt really good about it and that translated into behaviour. They weren’t talking about tell us being a better provider than Bell, it wasn’t in the discussion, so the person that switched to Telus didn’t, so if they’re the same, now Telus is worse and if they’re similar and Telus supports ultimate and I’ve been playing Ultimate Frisbee my whole life and it’s an emerging sport, why would I not buy Telus, you almost have to find me a reason to not use Telus and again a lot of you guys have very interesting niches and there’s people that are passionate about those niches so I think what you have to do is convey to the sponsor convinced the Telus’ of the world that this is real, that if you do engage and you are a part of this, it’s going to have a real business effect. So it’s good on its own but Telus isn’t a charity and again I think we talked about this or you know, we will throughout the series is one fundamental mistake and municipalities are as bad as anybody is saying, Hey, can you do us a favour and support us, that’s a terrible mindset, it’s a very poor approach, Telus doesn’t want to do you a favour and if they do do you a favour, it’s not sustainable. So that’s not a healthy way to have a partnership. Partnership is is good for both parties and again, what’s exciting is what you guys have to offer that there’s, you know, you’re all, many of you are Ultimate Frisbee examples. You’re not, we’re not dealing with Maple Leaf Sports Entertainment on this call or big monstrosities. We’re dealing with organizations that target smaller groups and segments and again, it’s exciting. But you know, you guys are listening, you have to believe in if you feel like, Hey, we don’t have a sponsor, and this company is doing us a favour, or we need to bring in more sponsorship money and let’s get people to help us out, I think I said for those who are in, there’s way better charities. So I would say if any of you guys are asking that sort of shame on you guys let people support the hospital. Like there’s a lot better charities, if it’s a charity to be investment, it shouldn’t be an event or municipality or sports. If it’s a business investment, that’s a whole different thing.”

Evan Colborne:

39:19 

“The brand value, i guess, is really where organizations can compete because we know we talked about the reach, you know, if you start trying to get into competing on reaching, you’re going to lose to Google or Pattison or these organizations that have tremendous reach. But it’s really, if you’re able to articulate that value, like I said, that’s where the CPM’s go up, that where the brand value can go up. And that’s where…”

Cary Kaplan:

39:42 

“That’s where you guys have a competitive advantage, you guys have a huge advantage. The other the other forms of advertising can’t compete on brand value. So you guys have a big advantage. So, you know, but not everybody uses.”

Evan Colborne:

39:57 

“So we talked a fair bit about, you know, this objective versus subjective thing and I know this is kind of another example, you know, we talked about a fair bit that it’s not necessarily about being the best product and we also talked about at the beginning, you know, it’s not necessarily about how much how much it costs to produce. So you know, the example being you know, Bic razors versus Gillette razors, cost to produce probably pretty similar and the quality of the shave that’s going to going to give you is probably pretty similar maybe Gillette’s maybe marginally better but prices 10 times more expensive, you know, same thing with Toyota and Lexus, most people buy a car to get them from from A to B. Toyota and Lexus are probably gonna do pretty well the same job of getting you to A to B, but some people opt to buy the Lexus so that’s really kind of that subjective value, I guess in play.”

Cary Kaplan:

40:50 

“Yeah and it works. People become attached to their brands. They believe that Molson beer is better than, Molson Canadian is better than Pabst Blue Ribbon when they really don’t know what they’re talking about but they’re tied to Hey, I’ll get a Canadian, you know, give me a Coors Light, it’s give me a or i’ll go to Tim Hortons or like you said on Gillette razors because Derek Jeter used them so I’m saying it’s effective. People have their favorites. They have their passions, they have products that they believe in. And you know, one thing I would say, you know, if you guys that are sitting right now you’re sitting listening to this look, or, you know, you may think, well, my office doesn’t have logos all over it and I would challenge you, I say you have logos all over here. So when you turn on your computer, there is a Microsoft logo that comes up. When you look at your computer, I’m looking at an HP logo right in front of me and turn your phone on. There’s an Apple logo that comes on. When you go to your search engine there’s a Google logo that comes on. When you stand up you have Levi’s on your pants and Under Armour on your shirt and Tommy Hilfiger on your under shirt, and whatever Nike on your shoes. And Toyota, when you get in your car, you have Toyota in the car. And you have a brand name. So what I’m saying is, it’s inundated. So anybody who doesn’t think in the pen you’re holding as a staples logo on it, and it doesn’t stop. So I think people somehow think that they’re unattached to brands. And that because we’re not walking around, and there’s a big McDonald’s logo on my wall that somehow I’m unaffected, whereas you probably where you’re sitting right now, you can probably see 100 logos, 50 logos. So people are really attached to brands, it has an impact and it’s not coincidental that when you turn your phone on Apple, make sure you see an apple, they don’t have to have an Apple, they could have a blank screen. Why do they do that? Why would they possibly have an Apple? It’s not, why do they do that it can be a blank white screen, it could be a landscape shot, or they do that they do that because they want that to be in your head that you associate and you have a certain affinity to that brand.”

Evan Colborne:

43:19 

“Another subjective point about, you know, increasing the value on the subjective is, you know, the results of those sponsorship might vary quite differently, you know, amongst different companies. So, you know, if Tim Hortons acquires one customer one time, that might only be worth a few dollars. If Toyota gets a customer, Lexus gets a Toyota that could be thousands, thousands of dollars just from one customer. So part of that subjective value also comes from what’s the the actual results of this sponsorship worth to that company?”

Cary Kaplan:

43:52 

“Well, it’s also I think, there’s a big and again, I probably straying off topic a little bit here. But there’s a big misconception and someone says, Well, you know, $10,000 is a lot of money for Swiss Chalet to spend on sponsorship, or for Toyota. Well, you’re not Toyota. In other words, $10,000, people tend to think of themselves as if $10,000 would be a lot of money for you, the person that we’re talking to, right now, why is $10,000 a lot of money. It is if you can’t measure a return, but if you feel like you can sell a car, as you say, or sell two cars, or sell three cars, it’s a very small amount of money, and you just have to demonstrate that you can do that, that you have an ability to sell cars as a result of sponsorship, but I think people can tend to get caught up on kind of, as you said, what’s a lot of money to an individual company, or, you know, can we really price it at that, I think it really, you’ve got to make sure the values there.”

Evan Colborne:

44:56 

“So just just wanted to kind of quickly go back to our equation here. So, a brand value, you know, as as abstract of a concept, and as tough as it can be, to really define in the purposes of our equation here is expressed as a multiplier. So, it might be a 1.5 times kind of the value of what that traditional media might be worth or it might be five times in some cases. So that’s really the exercise that you guys have to do as experts of your organization’s, your properties and assets, is trying to determine what that brand value multiplier is.

So that kind of, so now that we have that, we’ve got our CPM, we’ve got a reach, we’ve got a brand value multiplier. Now, that’s going to give us kind of what the value of the asset is. So it’s important to keep in mind that there’s, this again, this is there’s an art and a science to this, it’s not, there’s no universally accepted way to value assets, it’s not completely 100% objective, we’ve tried to, you know, throughout this presentation, kind of show the, the art and the science, the objective and the subjective. But it really is a mix of both. And when setting kind of values and when determining, you know, what to include them in a proposal or something like that, you know, we also tend to, you know, to aim a little bit on the high side as well, because just kind of baked into the sponsorship process is negotiation and discounting, and that just tends to kind of come with the territory, it’s also very, if you, if you kind of go too low off the bat, it’s very hard to increase, it’s always, you always have that option to come down in the negotiation. So as much as you know, we’ve shown kind of ranges on the low end of the high end for different inventory and coming up with the brand value, probably safer to the game a little bit higher than contain well.

So up to this point now, we’ve now kind of talked about what sponsors wants and how to understand what they want. We’ve also talked about what do we have to offer them. So that kind of the natural question is, okay, well, how do we, how do we articulate that to sponsors. So Cary talked a lot about, you know, having to confidently articulate that value as being really the only way to convince a sponsor that a partnership is the right thing for their business.

So, how to articulate that so we’ve kind of, at least as an introduction, we’re going to talk about this in a future episode, but at least as a starting point, you want to think of it in these kind of questions in starting with why, and then your first meeting with a sponsor is really talking to them about their business and doing a bit of that needs analysis, what has worked for them in the past, what objectives are they trying to achieve? So the first question you want to try to answer is, why should they even continue the conversation? Why do you see an initial fit for a partnership, and why should they continue to listen.

The second is who so really important to that particular sponso is they want to know that somewhere in the audience, that your property or event represents, there lies some of their potential customers, so they want to know who’s at your event, they want to know as much as you know about them, they want to know how many people are at your event, how many people they’re going to reach. So the more you know about the people that are coming to your event, the demographics, but also, you know, the psychographics, and the behavioural kind of stuff, the better, you’re going to be able to articulate to that sponsor that your potential customers are here. So a partnership makes a lot of sense.

So the other ones, when and where, we talked about that being, you know, a bit of a difference between advertising and sponsorship is the when. So in outdoor advertising with billboards, you might be reaching people, when they’re sitting in their car, they’re on their way home from work, or they’re hungry, you know, sitting in traffic, maybe not the best frame of mind to be in, but when you’re at a hockey game, for example, or a basketball game, they’re reaching people for a pretty good duration. But you’re also reaching them when they’re in a really good mood. So that has to be worth something to.”

Cary Kaplan:

49:02 

“Yeah, and I just touch on, we only got, I think, 10 minutes or so to go here. So I don’t want to get into length, you could do a whole hour on that topic. But I think people are in a good frame of mind when they’re at your events, typically. And I think that has a value, hard to define, you know, and this is where, again, people say, Well, what is that worth? Something significant, and it depends on your event and what it is, but I think there’s nothing wrong with saying that one of the advantages of partnerships with us is the frame of mind people are in when they come to our events, I think that has an impact onto itself.”

Evan Colborne:

49:37 

“So along the same lines, as the, where are the people when you’re reaching them, you know, in the case of most of the people on this call, it’s probably you’re reaching people when they’re on their leisure time, you’re reaching them when they’re with their friends or family out of their home. So that has to be worth something, as opposed to being interrupted and disturbing them while they’re listening to the radio, or TV or at home, or things like that. So, the when and the where are both important.

So you’ll see, the next one being what, tends to be, you know, people kind of jump the gun a lot and jump to the what right off the bat and say, here’s our gold package, these are the assets that are included and that’s really the what, the what is the inventory that we’re going to use to help activate your brand to our audience. So you want to keep that for a little bit later and once you’ve answered all those initial questions first, but then you do want to say, you know, these are the assets that we think align with your objectives and this is how they’re going to reach your potential customers in our audience.

And then the last one being, how, how are we going to define success? So in the initial meeting with a potential sponsor, you’re trying to understand what their objectives are, and what would a successful partnership look like to them, and you want to kind of close out, articulating that value to them saying, this is how we’re going to define success through this partnership.

Great. So that kind of brings us to the end of the presentation for today. So hopefully, you know, the takeaways are that, you know, there’s, there’s an objective way to kind of go about valuing sponsorship assets. But a lot of it is more of an art and trying to understand that abstract concept of brand value and  what your brand is worth compared to buying just traditional advertising. So hopefully, some good takeaways coming from today.

So with that, we’re going to move into some Q&A for the last few minutes here. So Rebecca, any questions?”

Rebecca:

51:36 

“Yes, so we had a comment from our live chat actually just touching on the potential reach that your event could have and they mentioned that it’s much easier for indoor events to predict crowd size as compared to outdoor events when weather can really mess things up. So do either of you have any comments and thoughts on that?”

Cary Kaplan:

51:55

“Yeah, I think my comment is, make predictions. So I hear that, but you have to predict based on, you know, typical what the weather would be, and there’s a range and if the, you know, the other thing too, and you make predictions, you can make predictions based, they can be optimistic projections, you know, to say that we predict that we’re going to have 20,000 people at our event, people understand that it’s  weather permitting and that’s going to have an effect if it’s and, you know, if you have 20,000 one year and you have 8000 the next year because of the weather, I think people understand that. So, again, I think that the mistake to me is to either not predict or to be overly cautious and say, well, we’re gonna have 2000 people because we’re basing this on a thunderstorm for the whole day. Okay, that’s the wrong prediction. Yeah, I could happen but the prediction is that in four out of five years, there won’t be rain. So if in four to five years there won’t be rain, that means there’s an 80% chance there won’t be rain, that means that’s your prediction. So I say that’s the answer. So to me, I guess the short is easy to you know, I think any event that you have even if it’s a first time event, they’re easy to predict, as far as traffic just don’t get caught up on that. I think there’s, it’s something you have to sort of get yourself past.”

Rebecca:

53:23 

“So our second question, this individual wanted to know, if I readjust my evaluation that I’ve used in years past, should I grandfather the pricing to current partners or negotiate?”

Cary Kaplan:

53:34 

“Really good question. I think case by case, I think there are, grandfathering is a good concept. Oftentimes, where you have companies that have spent, you know, you may look at it and I think what that allows you to do is comfortably change prices. So let’s say you have a sponsor and they’ve come in for $500 and you feel like they’ve way underpaid. Your value’s $5,000 but you don’t want to lose Home Hardware because they’ve come in at $500. And they’ve been doing it for 10 years. And I think it’s a way that people can appreciate. So if you reprice it at $5,000 and Harvey’s comes in and they find out that a company was paying less in theory, I think people can appreciate well, that was a grandfathered rate. That’s only for companies that started prior to 2018. So I think it’s an advantage to do that and I think it’s a good way so, because the argument is, don’t be afraid to raise your prices and if you feel like there are certain organizations that should be grandfathered to help you do that, I’d say absolutely. Go ahead. Do it’s a great question because it’s often one that’s misunderstood or somebody would say, well, we have to raise our prices for everybody I think there is some remember too that company may have paid you $500 for 10 years which is $5,000 and they’ve done a lot of other things when other companies wouldn’t have so I think there’s it can often be warranted.”

Rebecca:

55:07 

“So another question for our chat, what time of year is best to approach potential sponsors? This individual says they’ve heard everything from too early, too late, what are kind of your thoughts on that?”

Cary Kaplan:

55:19 

“It’s never too early or too late. I think December is the only time it’s probably not great. So you’ve got the good news is you pretty much got 11 months in a year where, so anywhere from the beginning of January to the beginning of December, I think again December you know, December’s unique probably, even though just the last two and a half, three weeks of December, but any other time is good. And if you’re, you know, you say too early. So let’s say you go and approach RBC and you have an event coming up in June and they say, our budgets are set, well, then talk about next year, don’t leave the meeting. So they say, well, our budgets are set for this year. Say great, what about the 2019 event? Why don’t we talk about that, if that’s the case. So and, you know, they’ll tell you if you’re too early. So if you go talk call somebody now in January, and it’s a company that makes decisions 60 days before let them tell you that I think part of the important thing out of that is that companies are all different, they have different fiscal years, some plan well in advance, some do last minute again, you sort of have to, for lack of better word, get it out of your own way. And don’t worry about as much about being too early or too late. It’s just move forward and let, companies will tell you that they’ll say, well, you too early or too late. And if you’re too early, there’s a time. That’s right. And if you’re too late, the good thing in most cases here, you guys have multiple years and multiple events, I guess if it’s a one off event, it could be too late for that event. But maybe something else.”

Rebecca:

56:57 

“So another question we had was, who should pay for the signage and activation at an event myself or the sponsor? And how does that factor into evaluation assessment?”

Cary Kaplan:

57:07 

“Great question, always the sponsor. So two things are additional costs. The two additional things are tax  HST, and production installation. So the cost should be if you get somebody to spend two thousand dollars, and then it ends up costing you 1500 dollars to put the signs up and build the signs, It’s really a $500 sponsorship. And then good news just like like taxes, people are used to paying for production, but make it really clear, you know, the cost of this is $1,000 plus production and make sure that’s up front. That’s again, a good question, because people tend to be confused on that. But to me, it’s a really clear answer. I mean, once in a blue moon, there’ll be a company that says, I need to know the all in price, including production and when they do make sure that that price goes up, evaluate, say, okay, it’ll cost 1500 dollars to produce this. So I’m going to raise the full value of 1500 dollars. But those cases are you really want to be in the mindset that production and taxes are extra, and that you can net the amount so if it’s $1,000, that you can clear $1,000.”

Rebecca:

58:25 

“And then kind of our last one from the chat, someone indicated that from their experience, certain sponsors only want local representation, they don’t want countrywide representation. What are some..”

Cary Kaplan:

58:38 

“Local representation?”

Rebecca:

58:40 

“I guess, just from a sponsorship standpoint.”

Cary Kaplan:

58:46 

“Presence? I think if I mean, not sure if I understand the question exactly. But I think if it’s saying to talk to somebody local, I think what I would say on that is you always want to start locally. So for instance, I think the mistake is to take some of these big brands and say, and this, by the way, is very, you know, good for most of you guys listening this. So if you’re in Oshawa, and you may think, I don’t know, Canadian Tire, I have to call somebody in Calgary, you don’t, the person that’s going to make the decision is in Oshawa, it’s the manager of the Canadian Tire in Oshawa or maybe the group manager, the regional manager, they’re not going to make head office decisions are not going to be made or things going on in Oshawa. So the tendency is start locally and don’t stress yourself out about hey, I’m not in you know, sending an email or filling out a form to Canadian Tire in Calgary is not going to get the person that’s going to sell that package is the person that runs the two local Canadian tires that are in your city.”

Evan Colborne:

59:57 

“So that’s actually a great segue into our next episode, which coming up February 21, 2pm, we’re going to talk about who to reach out to for sponsorship and just talk about the prospecting process. So that’s coming up. But that kind of wraps up our episode for today. So thanks very much again, to Central Counties Tourism and Sport Durham for giving us the opportunity to host this webinar series. And we welcome you feedback from everybody. And again, if you have any questions, didn’t get a chance to get a question to the live chat. Go to cosmossports.com and you can find our emails there and happy to clarify or answer any questions there. Otherwise, we will see everybody February 21st.”

Cary Kaplan:

1:00:38 

“I would just sorry just to add one thing before we go. I mean, the other thing too, is if anybody I mean, a lot of this comes in, you know, it’s pretty general and generic. I mean, if anybody wants to specifically talk to us about their specific situation, you know, we welcome that. So, you know, reach out to Evan or Rebecca or myself to say, look, we have, you know, this wasn’t addressed on the webinar, or we have specific things we do on our end, or, or maybe we could use some help in some other areas. So, again, the webinars are going to hopefully be very helpful, but they’re not perfect, and they’re not all encompassing, and we’re talking to a lot of people at once. So I think if, again, anybody wants to talk to us individually about their situation, we’re easy to find.”

Evan Colborne:

1:01:25 

“Thanks very much, everybody.”

Cary Kaplan:

1:01:27 

“Thank you.”

1:01:44

Categories
Blog

What Sponsors Want

BLOG

WHAT SPONSORS WANT
WHAT SPONSORS WANT

By Cosmos Sports | September 2, 2020

Reading Time: 38 minutes

In a 10 episode series, our experts discuss the different tools and tactics to acquiring sponsorship. Hosted by Evan Colborne, episode 1 focuses on what sponsors want. Follow along with the webinar or view the fully transcribed discussion below.

What Sponsors Want

Evan Colborne:

0:00

“Good afternoon everybody, welcome to the corporate sponsorship webinar series. On our first episode today hosted by Cosmos Sports and Entertainment. My name is Evan Colborne, I’m the Director of Business Development with Cosmos Sports and Cary Kaplan our President and Co-founder is here with me as well so thanks very much. So before we get started a couple of housekeeping items that we wanted to just address first of all a big thank you to Central Counties Tourism and Sport Durham for hosting this webinar series and allowing us to share some of our expertise and the experience particularly in sponsorship with everybody that’s on the call today.

From what I understand some people that are on watching today were at a workshop that we hosted back in October so welcome back and for those that are new I think we’ve got a lot of good stuff that we’re going to be presenting today and over the next couple weeks so as I mentioned this is episode 1 of 10, we’re going to be running every Wednesday from 2:00 or every other Wednesday should say from 2:00 to 3:00 o’clock between now and the end of May so lots of good stuff and we’ve decided to really focus on sponsorship over the next 10 webinars and really sequential so starting it off at the beginning here with our topic today and moving through the sponsorship process in a very sequential way and then we have a couple special topics that were going to book in the series with so special thanks to again to Central Counties Tourism and Sport Durham.

In case if it’s a little bit difficult to see what’s on the slides here behind us we are going to make all the slides available so don’t worry if you can’t see anything or you can’t read anything, all that’s going to be made available afterwards and our webinar today while live is also being recorded so if you miss something that we say or you can’t quite hear what we’re saying everything is going to be made available afterwards for people that have registered for the webinars so don’t worry about that and lastly we are going to be doing some Q&A to end our webinar today if you look in the top right corner of your screen if you’re watching on YouTube there’s a live chat box throughout the broadcast whenever a question comes to mind feel free to type that question in there and we’re going to address some of those questions that for the last 5-10 minutes or so hopefully we can get to all of them, if you can’t see the live chat box that you may have to exit out of the full screen mode and you’ll see it there so those are kind of the housekeeping item, so we’ll get started.

Right so our topic today we wanted to start with is what sponsors want and the reason for that was really in sponsorship that’s really what it’s all about it’s all about their needs and their objectives and every sponsor is different and every situation is different so it’s really our job as people that are representing events or different properties to act as a bit of a consultant and understand what their needs are and how we can help provide that for them but so Cary why did you think this was a really good important topic to start the theme of sponsorship?”

Cary Kaplan:

3:28

“So first of all thanks everybody for listening here, I know a number of you guys were at the live event that we did a while back. Apologize if my hands move around here it’s my tendency to normally sort of walk around so it’s a little more confined space so I apologize if it seems a little confined but I think what we found from the training first of all was that we talked about a number of topics but that sponsorship in general is really where the largest area of interest is and so was having pointed out if we could break it into key components was important so I think you know we’re not saving the best for last in the sense, that this is one of the most important if not the most important thing that you’re going to learn throughout the 10 seminars and I think what I would say is believe it. So what sponsors want I think the key mistake and probably the biggest error that companies make consistently events, teams, leagues, municipalities, is they spend a tremendous amount of disproportionate time talking about themselves and if you’re at Canadian Tire or Tim Horton’s or Royal Bank you don’t want to hear about the festival or the team you want to hear about how this matches your needs so I sort of use the example I think I even used this in the seminar if your meeting with Swiss Chalet and didn’t spend half your time talking about chicken it was a bad meeting if you’re talking about and I think there’s just a tendency to spit out information about your event, our event’s great and we have this many people and we’re hosting here and here, that’s not what the company is looking for, the company’s looking for how, if you’re a hair salon it’s about people to get their haircut and if you Swish Chalet about people who go to the restaurant and if you’re Meridian credit union it’s about people where they’re going to do their banking, they look at people as potential bank, people that are banking somewhere as opposed to people going to a festival so I think the line there is and will get more into it it’s about them. It’s an extremely important topic and we could we could talk on this topic for three seminars, 3 hours, and it still wouldn’t be enough and I guess what I say to everybody listening believe it that the tendency again is to talk just far too much about yourself and make sure you’re talking about them.”

Evan Colborne:

6:10

“So with that we have a couple of key takeaways for today’s webinar, first and foremost is identifying what sponsors want and it really is all about them but understanding kind of more specifically what are some of the main objectives that sponsors are looking for when they decide to sponsor an events and how to understand when they say you know particular objective what do they really mean what is it that they’re hoping to get out of that and 2nd is keeping in mind that the people that are making sponsorship buying decisions are you know they’re just like the just like you and I they’re just people and they’re making those decisions so we can’t remove the human component to the decision making process so a little bit about how do we put ourselves in their shoes and understand their job and how they look at you know their job from their perspective and lastly how to effectively serve a sponsor so what types of service deliverables are sponsors most commonly looking for, how can events and properties of all different sizes provide the level of service that sponsors are looking for nowadays and really have a lasting impact with the sponsor. So the first chart that we wanted to show is taken from sponsorship.com, its results of a 2017 study surveyed sponsors and self-reported data in asking in this case this chart asking sponsors you know what are the most common objectives and it may be a little bit hard to see on the broadcast but the main point that we wanted to really highlight here is that number one that you can see right at the top is creating awareness, creating awareness and visibility and those two words really tend to be synonymous with sponsorship and marketing and advertising in a lot of ways so it’s not necessarily surprising that we see that one at the top but Cary you just got a lot of experience working in sponsorship in particular, a lot of sponsorship meetings, when you’re meeting with sponsors how, what are the objectives you’re hearing most often then does it align with awareness and branding and those types of things or is it more little bit more direct?”

Cary Kaplan:

8:28

“Here’s how I would answer that it’s awareness and branding but ultimately it’s ROI so I think what happens is awareness so if you take that and somebody says our goal’s awareness and that’s the most common thing somebody will say we just want to get awareness people don’t know about Joe’s coffee shop and also Tim Horton’s might say that, they think everybody knows well Tim Horton’s may want to have awareness that there’s 8 Tim Horton’s in the community or a new one open but what they’re really saying is if you ask the next question awareness for what purpose? Why do you want awareness? If in Joe’s coffee shop he said well if everyone knew about Joe’s coffee shop but no one came in would you be happy and Joe would say no but we kind of assume that if we get a lot of awareness people will come in so the understanding is that awareness is a means to an end it’s important people recognize that in order for people to come in you have to know who it is but so I think again yes that’s very consistent the second one if you can’t read it as increased brand loyalty so that relates the same way but there is a chart you know there’s a direct direction so awareness and ultimately it leads to people making purchase decisions and then having brand loyalties coming back so you know it’s the concept of you want to get them there and then get them back so that’s consistent you can see there’s a whole number of things there that weigh in but I would say that if the person says it or not awareness is a means to an end.”

Evan Colborne:

10:12

“For sure. Do you find that there’s a difference between smaller businesses that are a little bit more of a local business versus some of the larger brands you know you mentioned Tim Horton’s you know there’s a difference between the local Tim Horton’s owner and Tim Horton’s the corporation and what their objectives are.”

Cary Kaplan:

10:27

“Right and I think in your communities you know if you’re in Pickering or Ajax it’s a really good question, you’re dealing with the local operators so there’s this tendency to think Canadian Tire well it doesn’t, you’re not really worried about the person sitting in Calgary or in Vancouver and Toronto at the head office in downtown, the person that owns and operates the Canadian Tire in your community, it may be that’s their life they may own and operate one location or two or the manager even if someone owns three of them who’s the manager on site so I think a lot of I think the mistake is not to localize it, so I think the tendency is to think well let’s we want to get Canadian Tire to sponsor us let’s call somebody at downtown Toronto and my comment would be good luck that’s not going to work go across the road and meet with the manager of the Canadian Tire in Ajax and have that discussion if that person is excited and it becomes a bigger package let them go downtown like don’t go downtown at all don’t consider going downtown don’t think about it don’t call downtown don’t talk to unless you know the person that works in Toronto so if you’re again you’re in Pickering there is this fear of I’ve got to go to Toronto, Montreal but the good news is you don’t they don’t have anything to do with your decisions are localized and that’s where you want to have discussions even with large organizations start with the local person or the only exception that is if you personally or you guys have a relationship with somebody out of another location but otherwise you start locally so I guess my answer to your question is there is not as much a difference as you think, Joe’s coffee shop and the Tim Horton’s some of the decisions are similar.”

Evan Colborne:

12:20

“Do you find when you’re meeting with sponsors that there’s a fair there’s about 10 or so most common objectives here do you find that sponsors are leaning more towards one and that really is their main objective from a sponsorship or are they spread pretty evenly across a couple of different ones?”

Cary Kaplan:

12:39

“I think it’s spread pretty evenly I think it more goes back to what the start of this discussion is that they, the listing’s important like they have they may have internal meetings or the person you’re dealing with may have sponsorship directions they may not have done any some of them don’t even know the term sponsorship they’ll lump advertising marketing sponsorship and don’t get caught up in the word sponsorship you know some companies that are just there mixing in what they do on Facebook and online and are they buying a sign in an arena and it’s all the same and I think trying to overcomplicate it. I think it’s just it goes back to understanding what are they trying to accomplish and then the goal is for you guys to show that you’re a vehicle that this is a really good vehicle to reach your goals but no I don’t, it’s, I think the best answer to that Evan is it’s all case specific by trying to say hey everybody is going to say awareness you get caught because you in a meeting and you say hey we have disagreed so if you say hey we have a great awareness campaign and you go in a meeting in the person is oh that’s too bad, we’re, everybody knows our brand we’re institution in Pickering oh you have an awareness campaign? We’ll pass. So it’s listening before speaking.”

Evan Colborne:

14:05

“So next we did want to spend a little bit of time talking specifically about awareness because it is the really the most the most common one but when people are saying awareness what does that mean? What is it, what does awareness mean?”

Cary Kaplan:

14:30

“Yeah it means I think you put it, I think you could maybe go, I think you put a definition again it may be hard now I don’t know if everybody can see it exactly but maybe you want to maybe definition’s worth a good starting point.”

Evan Colborne:

14:42

“Yeah so we just pulled this off Google and it just says knowledge or perception of a situation or fact or so it really I think what it would it really boils down to is that you know awareness tends to be very synonymous with advertising and signage and things like that and putting a logo up and you know that, to assume that that automatically equates to awareness maybe isn’t the case if yeah if a sign is there is that really going to generate true awareness and when is awareness really generated. We were talking before and I had a story that where this really hit home for me so you know was in Montreal for the Christmas holiday season and despite the cold we decided we were going to go ice skating down in old Montreal in the old port and they had the ice cream set up there and it was sponsored by Natrel and working in this industry you know I tend to immediately notice those things and then who are the brands that are sponsoring and what their activation is so that stuff immediately comes to me but just as a bit of an experiment as I was leaving and was there with my girlfriend and her brother in law and ask them who were some of the sponsors that were at the rink my girlfriend Tanya could name a couple there’s Telus and Sleeman was the beer and her brother-in-law Joey really didn’t know what I was talking about didn’t really pick up on any sponsorship that was there so the question really is you know those signs that were there to what extent did they generate awareness if people don’t really remember who was there.”

Cary Kaplan:

16:24

“Yeah I think it’s a good point although there is no subliminal advertising to you know if you’re watching a hockey game and you’re looking watching a play for two hours and there is a Mr. Sub sign behind it you might not consciously remember it but I’ll tell you where it comes out so you’re driving on the 401 from Oshawa to Toronto and you see a sign and it says Mr. Sub and Dr. Sub and you have to go you’re hungry, starving, and there’s two signs one’s Mr. Sub with the red and white letters and then there’s one that’s Dr. Sub. Most people are going to go to Mr. Sub, most people if they’re in that situation and they and it was a bunch of if’s and they’re hungry enough and they want to have a sub, so why are you going to Mr. Sub it may not be remembering that you may not have been very often maybe you haven’t been in many years but that awareness of a Mr. Sub logo at a hockey game and on a billboard and you can’t necessarily remember where you saw it but you’ve seen it so many times that Dr. Sub might go out of business so if I’m a franchise owner and you ask me which one I want to own, even if I feel that the Dr. Sub quality is a little better the Mr. Sub value in that franchise is a lot higher because of the brand and that means something that’s real that even though and I think the mistake sometimes is to think it’s all about product so again I know I’m sticking on this example here but if I own that Dr. Sub I could be really frustrated because my subs are better why are 3,4,5 times as many people, I mean McDonald’s is the classic case of that, why are 3,4,5 times as many people going into the other place and awareness is you know there’s other reasons brand loyalty, quality right you said but awareness is probably one where you don’t have time to say hey let’s why don’t you go to one and I’ll go to the other and we’ll do a taste test so you know it has some potency on but it has to be a good experience on but just it’s sort of there’s a guess what I say there is so even if you have a couple of people and they don’t notice the sign, subconsciously they may be more aware of it than they think.”

Evan Colborne:

18:51

“Right so that might be a great way to kind of overcome that objection if your meeting with the sponsor if their objection is like I just mentioned are people really going to remember my sign if I have it up at an event or festival or your theatre or whatever it is and seems like you know the answer is maybe not immediately but that’s going to come back over time.”

Cary Kaplan:

19:14

“Yeah and I would argue in one big thing on sponsorship is time, you see a billboard for five seconds you see a rink board you see it for two hours so that’s different and I think that your longevity at time and repetitiveness and all that that has an impact on awareness and that’s when you know when someone’s saying well why would we want to be a sponsor when we can have a radio ad? Well the radio ad’s fleeting it’s 13 seconds, the Facebook you know all of that stuff is very quick what’s unique about sponsorship community activation you know we have a sign up at a festival of 300,000 people are going to come to well create 300,000 people are going to be there for an hour and your TD Bank sign is going to be there so when you guys are selling that it’s different that’s important. I mean I have a bias going into this but I believe the value of sponsorship in a lot of ways is significantly better than a lot of traditional advertising or even non-traditional, even online advertising into social so I think that’s part of it.”

Evan Colborne:

20:33

“So we were, the old kind of saying if a tree falls in a forest and no one’s around to hear it we were kind of comparing that as we were coming up with the concept of this webinar so I guess in the example of my story that where people don’t necessarily remember maybe it is the that tree is falling and people don’t really notice whereas you’re saying over time it can actually have an impact. So with awareness again being so closely tied with signage and branding and that kind of stuff we’ve all been to events where you know you look at the top image there and you see sponsors that are activated or recognized in that kind of way but you know you look at the bottom picture and this was just an example pulled off of Google but a really unique way to activate the Sprite brand. It’s something that is certainly going to be remembered and you see in the picture people taking pictures of their kids in front of it so maybe just touch on the need for unique activations as opposed to just a sign.”

Cary Kaplan:

21:50

“Yeah so you know what I would say on that is an important point, companies are, two points I would make, companies are more sophisticated so you see the Sprite example, a lot of companies will initiate that and say we want to be more integrated, we want something that’s going to be memorable. But secondly, a lot of companies are not sophisticated and the onus as an event for you guys is to sophisticate them. In other words if someone says to you hey we own the local real estate agent and we’d like a sign with words on it, you guys have to say no absolutely not we’re not doing that, you can say it a little nicer than I just did but it doesn’t work. They won’t come back, they won’t get retention, they won’t deliver. So there is a certain, a Sprite, Sprite’s part of Coca Cola, they’re the most, the strongest brand in the history of the world, so yeah they’re pretty good but a lot of people are going to look to your expertise so don’t sell signs, don’t sell ads in magazines, it’s so lazy. So on your guys’ part, very lazy to say we’re doing an event do you guys want to have an ad in our program or do you want to have an announcement that’s 1985 and so what I would say is yes there’s a sophistication but make it you guys make sure it’s sophisticated, make sure all of the situations are like Sprite. They’re going to pay for that, those signage costs are extra and companies like that are going to renew but there’s a tendency to say, you know he or she only asked for a sign. Okay so what? That’s not acceptable as the event that you take the money for something that they’re not going to deliver on. If somebody is spending $1000 of their hard earned money and that doesn’t matter if it’s Coke or the local bakery, it’s still $1000 of hard earned money from that company, you want to provide a return. By giving them something that’s static and has no impact that’s not going to provide a return. So put it on yourself to give them something that has an impact.”

Evan Colborne:

24:06

“To kind of bring this full circle to the discussion about awareness, what sponsors are really asking for when they’re asking for awareness is we want a way to stand out, we want a way that’s going to actually whether it’s immediate and short term or it’s a little bit longer time like you said with the Mr. Sub example we want some way that we’re going to be, going to stand out from the crowd and actually be noticed and recognized and hopefully in some cases remembered. So this next chart that we wanted to touch on was taken from the 2017 Canadian sponsorship landscape study and it actually shares data from both 2016 and 2017. In this case, it’s asking sponsors and surveying sponsors, in this case what it’s asking is what factors influence their decision to actually sponsor a particular event over another. Taking a look at the data, the first one consumer passions and interests and really how we interpret that is does the event have a passionate audience and do the interests of that audience align with my brand as a sponsor and is there a good fit between our target customers and the audience that you represent so that really makes sense. But one that really stood out to me was that the number two in 2017 you can see its made a fairly substantial jump up from 2016 to 2017, number two is bias and maybe this is just a little bit of a utopian view that had of the sponsorship industry but you think all of the sponsorship dollars should be kind of allocated based on the pure merit of the event in that but that really doesn’t seem to be the case when you ask sponsors.”

Cary Kaplan:

25:49

“Yeah so here’s what I would say guys, so if you can listen to this point, bias should is actually 50%, like the number’s wrong. Because when you ask sponsors what’s the reason that you’re sponsoring, I’m surprised that it actually got to 18% but it’s probably 50 or 60 in reality. In other words, why does a sponsor work with an event? And the large part is because they feel good about working with that group or those people. So I’ll give you one small example is Golf Canada, huge event, you know the Canadian championship was called the Bell Canadian Opener for many years and then it changed to the RBC Canadian Opener. The president of Bell moved to RBC that’s why. Because Bell, so Bell as a company they may have thought it was good, the merit, but the new president for Bell came in, they did not exercise their option. The person went to RBC felt really good about the event and that’s talking about millions and millions of dollars and what I would say is there’s nothing wrong with that, that’s part of it too, there’s this sort of well that’s not right that you have a good relationship, think of when you make a, I think a lot of these things is take it to your own decision. Why do you go to a specific retail store, or why do you go to a specific restaurant, or I know my father has gone to Home Hardware forever, his whole life, there’s a Home Hardware, he doesn’t like Home Depot, he doesn’t like Canadian Tire, he’s 76 years old and he’s loyal to Home Hardware because he can tell you that he talks to Frank there. I don’t know what, why that should be relevant that he’s going to buy a hammer at Home Hardware when Home Depot is 20 times the size but he’s loyal to that and he’ll pay more for it and I mean I assume the prices are comparable but he’s going to go out of his way to feel comfortable with people that the feels comfortable with. And people do that with restaurants, places you eat, and again places you shop, people are generally uncomfortable being uncomfortable so again just to clarify the reason why that’s really 50/60% is again you’re asking 100 sponsors why are you making a decision and 18% of them actually said because of someone I like or a bias, it’s probably way higher it’s just people make again you have to have a comfort level, a trust level, and again I’d not only say its factual, I’d say there’s nothing wrong with it so embrace that. For your sponsors are you having coffee with them, are you going golfing with them, do you give them a Christmas gift, do you give them a gift in the summer, are you inviting them to a BBQ, are you doing any of that? Or are they just a number? And if people feel like they’re just a number so they spent $5000 and that’s it. It’s easy for them to go somewhere else next year, but if they have a relationship and you took them for coffee twice, yeah it matters. Yes they’re going to factor in that that $5000 is well spent, part of the reason why it’s well spent is because they like working with Evan Colborne and I think if by walking and again this is the mistake by thinking it’s all about me, they’re sponsoring because my event is so great, incorrect. That’s not the reason that people are sponsoring and it’s often not the reason people are coming back. So again, don’t you know, take that at heart and again my point is bias is actually number one so I’m confident in that I don’t know on an unbiased survey bias would be number one.”

Evan Colborne:

29:33

“Yeah I guess it, bias is, the word that could really be used is really relationship like you said in the example of your dad going to Home Hardware it’s really he feels like he has a relationship with that store or somebody at that store. Before this morning we were recording a podcast with Joe Lowes and that was a really big theme. Joe Lowes is our senior sponsorship consultant here at Cosmos and relationship was huge for him, he talked about all the and it’s not so much the big gestures necessarily in building a relationship but these little things over time that could build a relationship. He talked about getting to know the people he was meeting with and if the sale came out of it then that was a bit of the by-product but investing in those relationships and one of the examples he gave was he picked up on a meeting that somebody, one of his contacts really likes this mustard that’s from Cleveland. Joe remembered that and when he was in Cleveland he picked up the mustard and something like that you can’t necessarily quantify but that can go a long way, those small little gestures.”

Cary Kaplan:

30:43

“Funny story so Joe Lowes again works with Cosmos, he’s worked in sponsorship for 20 years and much of that with the Ottawa Senators so to tell you since you brought it up here two years ago I went to Ottawa to meet Joe and he said I’m having lunch with a friend and it was a gentlemen had lunch sort of and Joe talked a lot about their family and there was like four of us at the table. And that’s how Joe introduced him, a friend of mine was having lunch so anyways and somewhere during the lunch they started talking about that he’s no longer going to sponsor the Ottawa Senators, Joe’s not there anymore. Well it turns out this is an insurance company that spends six figures per year sponsoring the Ottawa Senators but it was really clear that the huge part of that was the relationship with Joe Lowes and the guy had no problem, he was blunt about it. Joe since you left we haven’t been taken care of and we’re going to walk away and he’s not saying the Senators lost three more games and they had this many people and the product isn’t good and the discussion about renewing or not renewing was almost solely based on their relationship and I can tell you in that example if Joe went to work for the Ottawa Red blacks that insurance company would follow him. It’s not team specific it’s person specific.”

Evan Colborne:

32:14

“The other thing that I took away from this chart is the first two, the first one being consumer passions and the second one being relationship and bias that we’ve talked about and after that is when you really get into the more quantitative influencers on a decision. So it’s really more so that when a sponsor is looking at something, does the audience align with who I’m trying to reach, do I have a good relationship with the person I’m dealing with, and then I can use all these other quantitative things to justify my decision. Not so much the inverse where looking at all the numbers and then deciding on a property.”

Cary Kaplan:

32:50

“Yeah and it’s particular when you can, it’s why also that the best sponsorship, partnerships – and I still like the word partnership, we use sponsorship because it’s the common term but I think what you really are going to talk about are partnerships – are when you meet in person. It’s always harder I know certain times you are forced because of geography to do some of these things remotely or over the phone but the best relationships are actual relationships where the person feels they’re more than a client and you’re more than an event person.”

Evan Colborne:

33:26

“I think the other thing Joe and I were talking about a fair bit about relationships is when you’re working in sales and you’re working in trying to find sponsors for your event you can feel a little bit of that pressure to make a sale or close a sponsorship or build that partnership but when we’re talking about relationship selling if you go into a situation and you’re trying to force relationship it can really have the adverse effect and hurt you in the long run so going into that first meeting with the intent of learning all about them, and talking about them, really helps to establish a bit more of a relationship.”

Cary Kaplan:

34:08

“Yeah you say we use the word the relationship, I mean think of when you meet somebody you know and a lot of people have friends for their whole life. Imagine if you meet somebody that seems to hit it off with and think that could be somebody that would be a good friend and you say to them hey do you want to be my friend let’s hang out. Then all of a sudden it just got weird. Typically that’s the worst thing to do. You can say he we should go and grab a coffee, that’s good. If you say can we go for coffee because I want to be your friend, and I think you’d want to be my friend, and this was a really good pre-friend discussion, be worried. So I’m saying that’s when you’re in the sales environment that’s what’s happening. Hey, we’re the Oshawa Generals hockey team and you’re McDonald’s and it would be really good if McDonald’s sponsored the Oshawa Generals hockey team and that’s right when McDonald’s says no it wouldn’t. Why would we want to do that? Oh because it would be good, we’re trying to get money, we want people to sponsor and McDonald’s is a big name. And it’s like okay we’re out. So that’s forcing, that will, you’re trying to force, we’re talking about partnership and relationship you can’t, it’s just like a personal relationship, you can’t contrive it. You can take in any situation, if a waiter comes up to you and says am I doing a good job again it’s weird, you have to let it take it’s natural flow of events.”

Evan Colborne:

35:41

“The next thing we wanted to touch on again another chart taken from the Canadian sponsorship landscape study but, so kind of just recapping of where we’re at so far, so what sponsors want, so the first one we talked about is awareness but understanding what awareness means, what they’re really looking for, and that it’s the job of us that are representing the properties to really identify what it is that the sponsor is looking for and then articulate how is it that we can provide that to them. And then the second really being that it’s more about a relationship and that’s going to carry more weight than how many people you have at your event and a lot of the qualitative numbers that you may have about a particular event or anything like that. But the third one we wanted to touch on was about service and about customer service and so again another chart taken from the Canadian sponsorship landscape study and what it asked is asked sponsors to rate on a scale from 1 to 5, some pretty common service elements that are part of sponsorship relationships and asking them how important they find those and how often they find that they’re actually provided and what you can see here are the blue bars that are the sponsors rating of importance and the purple ones provided so you can see there’s a pretty consistent gap between what’s deemed important and what’s actually being provided by properties and that’s been seen every year the study has asked that question to sponsors. So I guess just when you take a look at this chart and you see that disparity between the expectation and what’s being provided how are you seeing that kind of in the sponsorship industry and what can organizations take from this chart and apply to their events?”

Cary Kaplan:

37:36

“So you’re saying the importance, the difference of the importance relative to what’s provided. Good question. I think the most important thing to see is there’s a gap in almost every example so again are you looking at what you know if you’re really focusing on what’s important the line should match where you can see in every case there’s a shortfall and I think its saying really try and understand what is important and I think organizations can do a much better job with that and say really lets analyze what’s important and lets prioritize, sometimes for instance it tends to be for you to focus on things that aren’t important to them and you said oh we’re going to give you 20 tickets to this hockey game and it’s not something that they ever asked for. Well that’s not important to them so you’re providing it but they’re not looking at it as relevant whereas they could be hospitality for one company and branding for another and sampling for another and again the tendency is to say well you get sampling and tickets and branding and awareness and four different companies may want four different things. So I think really the main thing to me is you can see almost every case here there’s a matching gap and typically that’s a result of not listening.”

Evan Colborne:

39:10

“Right, so through those initial meetings really trying to just like we talked about with the awareness is just trying to understand what is important to that sponsor and how I can provide it too.”

Cary Kaplan:

39:21

“Yeah you might say the initial meetings but I think its fluid, I think it’s every meeting and one of the things I would say too and I know we talked about this when I did the training in person is if somebody does a sponsorship and they sign a deal and they’re not happy and they spend $5000, I don’t want to, the last thing I want to do is refund the $5000, what happens when you know if you go to a store and you buy something and you’re not happy the first thing the store owner tries to do is exchange it you know, a restaurant tries to exchange it, you have a meal that you didn’t like let me bring you something else. They don’t want to refund it right away, you just got your meal you know what I don’t like the taste of this pasta, like okay what would you like? The goal, they still want to charge you, the goal is still to get you to spend $20 on that meal that you enjoy as opposed to if you just refund it because the downside if you just refund it they didn’t have a good experience, maybe it’s okay that they got their money back they just didn’t enjoy their meal they may not come back but if you think about the power of a quick switch. So you got pasta how is it? It’s okay. Well why don’t I get you something, what would you like, I know you were deciding between pasta and a club sandwich, why don’t I bring you the club sandwich? The power of that and I think a restaurant can say well we lose and throw the pasta into the garbage. By not doing that exchange they’re never coming back, there’s the risk that they never come back, had the pasta didn’t like it, now I’m leaving. So one of the things I think a lot of restaurants do is they ask that question how is everything but there’s two problems with that. One people are really reluctant to give a true answer so you know you may so to your person across the table oh this pasta’s not very good but you’re reluctant to give a true answer and two some of the, a lot of restaurants don’t ask it sincerely. The sincere way to ask that question is how’s the meal because if you don’t love it we’ll exchange it. Now who says that? Nobody. If you don’t love it, not like it, if you don’t love it I’d rather get you, do you love it? Is it great? Is it the best club sandwich you ever had? Is it really good? Are you really enjoying it? Because if you don’t really enjoy it, I’d rather give you a hamburger. Now that’s good customer service and if your restaurant’s good then 90% of no I really like it, it’s great, enjoying it, that’s good I don’t want to change it up. I think that’s the, it’s fluid it doesn’t end when you sign a contract it, that that relationship is here’s your deal are you happy with it you don’t want people to feel like they made the mistake.”

Evan Colborne:

42:05

“I think the other takeaway that I take from this is there’s going to be some organizations that are on the webinar today that, or maybe smaller organizations could be a non-profit that are putting on an event or are representing a cause or there’s organizations of all different sizes so you may look at this list of service deliverables and say we just don’t have the resources to provide all of that, and maybe that’s part of the, you know we’re not at MLSE we can’t provide all of that. So one of the things that I take away from that is there are some things that are a much bigger discrepancy so you can see a target profile in terms of rated importance and how often it’s provided is there’s a big gap so by providing some of the things that are rated very important but are very seldom provided all of a sudden you start to stand out in that sponsor’s mind as doing something that no one else is doing.”

Cary Kaplan:

43:00

“You know one thing I am going to say here and you’ll probably hear me say it on, I’ll say it more than once on different sessions that we do. There’s a common misconception, so talking to everyone listening to this, and the common thing is we do these presentations and people will come away saying two things. Sounds good, I don’t have the, and when I say this people are going to nod their heads, sounds good but I just don’t have the money. Or and/or sounds good but I just don’t have the time. I do this all myself we don’t even have time to do sponsorship I’m doing operations so what I would say is this is designed for the smallest of organizations if you’re one employee if you’re sitting on this call and you’re the only employee in your organization it’s still doable. It can be $5000 or $500 or $50 or in kind services or whatever it is, it’s not limiting and I think it’s a mistake to think well this all sounds good for bigger organizations. This concept is identical regardless of how small you are. So there’s businesses within your community that probably want to be engaged with you in some capacity and some of these may be free it may not even be maybe they’re not spending money but they’re engaged somehow but you know most of you guys here believe in what you’re doing, believe in the association you work with or the event you work with and if you believe in it the question is do you believe in it enough that it’s good for a company to partner with and if you can get yourself to that belief then you know you can have a discussion. So again I’m just kind of want to have that parameter and it’s very easy for people to look at this and say, I hear it all the time, the most common objection I hear in any of these types of seminars, sounds good I’m too small for this, I don’t have the time or money. I don’t buy it, I think you all have the time and money because it’s just starting small we’re not trying to reinvent the wheel and say look sponsorship is something growing from zero to one is a lot of growth so it can be from 10-20 or 0-1 or 1000-2000 or whatever but I just think if you’re listening to this seminar, sponsorship is important and again or I think it would be and don’t downplay your ability to have those discussions.”

Evan Colborne:

45:31

“Yeah I think in particular for the smaller organizations really think of it in that 80/20 principle so what’s the 20% of these things that are going to have 80% of the results or impact with limited resources I’ll focus on that 20% as opposed to trying to spread myself too thin.”

Cary Kaplan:

45:46

And there’s the point of you know again I use the Oshawa Generals, if you’re a sponsor of the Oshawa Generals you might be one of fifty, if you’re a sponsor of a small festival you’re doing and you’re one of one, A. that company can get a lot of value, B. there’s a brand loyalty that people will appreciate, people in your community or on your street or as part of the event will appreciate that that company or those companies have invested. So you can make that case to the company, you can make the company tell us the local Ford dealership or that hey you can be our for $5000 you can be our title sponsor, and you can have signage everywhere, and you can have test drives in the cars and whatever you can do so again don’t, having confidence in the value of your event to partners is important.”

Evan Colborne:

46:41

“I think the, just the topic of service and the desire for all these service deliverables from sponsors it does speak to that need to want to be reassured of that decision that there’s somebody that’s just like you or I that’s sitting in the sponsorship decision seat and they have a boss that they have to report about where they’re allocating the funds and they want to be reassured that I made a smart decision, I made a wise decision and here’s how I can back that up. Also want to feel that this isn’t the only thing I have in my job so I feel like I’m being taken care of so I don’t have to worry about it.

So one of the final points that we wanted to touch on before we get into some Q&A here is you know the need to get your sponsors involved. So sponsorship, a lot of the people that are on the call they represent events that are all different whether it’s sports or performing arts or festivals or community events or causes whatever it is but it’s not the same as buying radio ads or billboards or tv ads or things like that. This there’s a lot of cool things that happen with these events and these properties and getting sponsors involved in that and showing them the behind the scenes of the access and that kind of stuff too can go a long way to getting and building that bias a little bit in your favour and building that relationship. And you’ve seen that with the Beast you know we have some sponsors that we try to get involved in different ways not just your traditional ways but get involved with the hockey celebrations, get involved with things like that.”

Cary Kaplan:

48:21

“Yeah I think providing unique access to sponsors, they’re just people. So if the sponsor is the director of marketing of a company and you can have them meet an athlete or meet a performer. So you might say well it’s not that big we have a local band that’s performing. Okay well the person that is the marketing manager of RBC Pickering might be really cool for them to get backstage to meet the local band. They might think nothing of it, that’s pretty unique for that person. Or one that’s common is a lot of events there’s cooking cook offs or four people made jam and we’re going to do a contest for the best jam at the X festival well you have three judges. Why are the three judges not three of your corporate sponsors? That kind of stuff. That’s different, it’s interactive, it’s fun, it’s also not stress related. Now if you tell, you ask one of your corporate partners to sing on the stage you get a pretty narrow group, 1 out of 10 or 1 out of 20 might say that’s cool and the other 19 are going to be scared and not want to do it. So part of it is not putting people in the situations where they’re going to be uncomfortable but can you be a judge for again they’re not the one making the jam they’re the one judging. So I think if you can put, create some environments where the sponsors, if you think of the sponsor as a person you know it’s Mary it’s not McDonalds, it’s not TD bank it’s Mary Jones who is sitting here and she may have a family and she has a life and she happens to work for TD. Well so what’s wrong with doing a couple of fun interactive things and the reason again back to previous point is then it becomes memorable and it’s an important, I’ll give you sort of one quick example that we’re doing with the Brampton Beast and I’ve seen it with a number of teams. So you have a school day event, company will sponsor kids coming to a hockey game. Great company spends money, the company goes to meet the kids, and 500 kids come to a hockey game curtesy of RBC. That’s not what’s powerful, what’s powerful is every one of those 500 kids writes a thank you to RBC. Dear RBC, I got to go to my first hockey game, and some of them are pictures and some of them are letters and that’s what’s going to be up on the wall at RBC and what’s underrated is that’s the number one reason for renewal. Not I got my money’s worth, there’s other reasons too. But the number one reason, talking about bias, the number one reason is because I got 26 letters sent to my office of kids that went to that hockey game so I’m in. So you have to think if someone, cynically you can say that’s crazy that’s not a very good banking decision for RBC! Maybe not. But there’s that feeling of the team did a good job and that’s the kind of thing you can do at any event. Is there a proper thank you? Is there a proper acknowledgement. And again the example there it’s from the kids, so it’s not from the school. It’s not the same for the school to say thank you RBC, it doesn’t have the same touch as a 9 year old. So it’s really thinking these things through of what is actually going to have an impact. All that stuff works.”

Evan Colborne:

52:04

“So that kind of brings us to a wrap on the presentation so just to wrap up some of the themes that we talked about you know first is understanding when you’re meeting with sponsors understanding what the true objective of their sponsorship is. So if they say awareness, digging a little bit deeper awareness does not necessarily equate to branding or signage or things like that, it’s understanding really what are they hoping to get out of this sponsorship and how what are their goals are they short term, long term and all sorts of things. So the sponsor in terms of what sponsors want they’re looking for someone who really understands their business, understands their objectives and how they’re going to help them achieve them.

And the second being relationships and you know people want to deal with people they like and want to buy from people they like so focusing on a relationship as opposed to thinking only trying to make the sale in the beginning and talking only about your event and talking all about yourself. Focusing on the relationship is going to go a lot further and ultimately is one of the bigger influencers on decision making for sponsors. So relationship.

Getting involved, showing them that this is cooler than buying billboards, this is cooler than buying radio ads, it’s not the same, there’s a lot more benefit to sponsoring an event or a team or something like that then there is if you just want eyeballs there’s other ways to do that but this is more than that.

So with that, we’re going to turn it over to some Q&A so throughout the presentation if you had any questions or anything, if you submitted them then great so Rebecca any questions? No? Okay in that case we’ll leave it at that for today so again want to thank Sport Durham and Central Counties Tourism for hosting us today and allowing us to host this webinar. Our next episode is two weeks today and that’s where we’re really going to start getting into identifying opportunities, what specific opportunities sponsors are interested in and what they’re looking for, and I think one of the more popular questions about sponsorship in particular is what’s it worth and how do I understand what my sponsorship inventory is worth and how am I making sure that I’m not charging too much or too little so that’s on our next episode which will be two weeks today. So again want to thank everybody for taking the time out and tuning into the webinar again this has been recorded so everyone that is registered to the webinar will have access to the recording in case you missed anything and we’ll also make sure the slides are made available for everybody in case it was hard to see it on the screen here. With that thank you very much and we’ll see you in a couple weeks.”

55:25

Categories
Case Study

City of Kitchener – Advertising & Sponsorship Program

SPONSORSHIP & ADVERTISING

COSMOS ASSISTS IN SELLING ADVERTISING FOR THE CITY OF KITCHENER

sPONSORSHIP & ADVERTISING

COSMOS ASSISTS IN SELLING ADVERTISING FOR THE CITY OF KITCHENER
ABOUT THE CITY OF KITCHENER
Reading Time: 3 minutes

Kitchener is a Canadian city in southeastern Ontario. In the centre, THE MUSEUM features interactive art and science exhibits. Near sprawling Victoria Park, the Joseph Schneider Haus is a living-history museum recreating life in the 19th century. Part of the Waterloo Region Museum, the Doon Heritage Village evokes early-1900s life with buildings such as farmhouses and a blacksmith shop.

Cosmos Sports & Entertainment was selected, via RFP process, by the City of Kitchener to sell advertising assets in recreational facilities within the city. Moreover, this inventory includes 7 arenas and 2 publicly owned golf courses.

THE CHALLENGES

Like many municipalities, the City of Kitchener was looking to uncover new revenue sources beyond the tax base to support the programming being delivered year-round. After careful consideration, leveraging the City’s owned recreational properties to sell advertising and sponsorship was concluded as a viable method. The challenge then became how to develop and execute a professional advertising & sponsorship program.

THE SOLUTION

After being selected through an extensive RFP process, Cosmos got to work right away. As a starting place, key Cosmos staff toured the properties to understand what assets each offered to potential sponsors. We discovered that in addition to traditional static signage common in many recreation facilities, there were several untapped opportunities including Naming rights to select facilities and spaces within those facilities.

Cosmos developed a comprehensive inventory of all tangible and intangible assets and subsequently valued those assets based on a host of factors including local media costs, audience, and benchmarks against other municipalities.

In final preparation before going to market, Cosmos’ in-house creative services team designed a package that sought to visualize the opportunities for prospects and serve as an aid to the sales team.

THE RESULTS

Over the course of three and a half years, Cosmos brought aboard 30+ new partners and grew annual advertising & sponsorship revenue 4-5x. This included selling the naming rights to the Box Office (Activa Box Office at the Aud) and a community rink (Gay Lea Rink at Sportsworld Arena). This program has created a revenue stream that continues to pay dividends for the City of Kitchener.

“During our 3+ year partnership, I genuinely appreciated working with the Cosmos Sports & Entertainment team. The customer service that Cosmos provided to our third-party advertisers was world-class, and I could always count on their honesty and transparency as partners. In addition to those qualitative intangibles, Cosmos sports gave our business quantitative access to client opportunities that likely would not have occurred had it not been for their vast client network. Their ability to align relationships and business opportunities provided a tangible advantage."
Jeremy Dueck
Manager, Kitchener Memorial Auditorium (The Aud) | Sport Division | City of Kitchener
Categories
News

GT20 partners with Cosmos Sports & Entertainment as Chief Revenue Officer (CRO)

NEWS

GT20 PARTNERS WITH COSMOS SPORTS & ENTERTAINMENT AS CHIEF REVENUE OFFICER (CRO)
GT20 PARTNERS WITH COSMOS SPORTS & ENTERTAINMENT AS CHIEF REVENUE OFFICER (CRO)

By Jordan Urquhart | April 24, 2019

Serving as the CRO, Cosmos Sports will oversee all commercial outreach in several areas including: marketing, corporate sponsorship, ticket sales, public relations, community relations, and event activation.

Despite the late start in 2018, season one of GT20 was a huge success. For the first time, some of the finest players from the world of cricket played alongside local cricket stars and the league garnered the impressive viewership of 50,000,000 around the globe on the debut. This spectacle placed Canada on the world cricket map, and the talent of associate cricket playing nations got the much-needed opportunity and recognition.

Preparations for season two are in full swing, and the promoters are expecting an estimated viewership of 100+ million for this edition. Led by a seasoned staff, the Cosmos team is looking forward to delivering a world class sporting event for the fans, and the players.

Speaking on this partnership, the owner of the GT20, Canada, Mr Gurmeet Singh, said, “After the immensely successful first edition of the GT20 Canada, we are committed to taking Canadian and North American cricket to new heights. For that, we need a regional ally who shares the same passion and vision. We are delighted to have an extremely experienced partner in Cosmos Sports who will help us to make GT20 season two bigger, better and stronger. On behalf of Bombay Sports, I welcome them on board.”

Cary Kaplan, President of Cosmos Sports and Entertainment, added, “It is a privilege for us to be part of the great sport of Cricket as it emerges as a powerhouse in Canada. The GT20 group are true pioneers in Cricket, and we are honoured to be a long term partner with them as they bring the world’s greatest Cricketers to the GTA.”

GT20 Canada is a cricket tournament founded by Sriram Bakthisaran and Gurmeet Singh of Mercuri Canada Ltd. in 2018. The tournament is an 18 day event consisting of six teams and the best players cricket has to offer all here in Toronto.

Cosmos Sports & Entertainment is a full service marketing firm founded by husband and wife Cary and Amelia Kaplan in 2003. As a collective of creative professionals with a shared passion for sports and entertainment, our mission is to help transform employees into teammates, customers into fans, and organizations into champions. Our main areas of focus include, ticket sales, sponsorship, marketing, digital media, and event management.

Categories
News

Cosmos Sports Tackles New Partnership with the Toronto Arrows Rugby Club

NEWS

COSMOS SPORTS TACKLES NEW PARTNERSHIP WITH THE TORONTO ARROWS RUGBY CLUB
COSMOS SPORTS TACKLES NEW PARTNERSHIP WITH THE TORONTO ARROWS RUGBY CLUB

By Olivia Sala | March 20, 2019

Cosmos Sports and Entertainment is proud to announce its partnership with Toronto’s first major league union rugby team, the Toronto Arrows.

The Arrows joined Major League Rugby after decisively winning their preseason matches, 40-18, 40-14 and look to continue that trend into the regular season. Cosmos Sports will be handling the sponsorship and ticket sales for the team for the duration of their 2019 season.

The Cosmos Sports and Entertainment team is excited to bring fans closer to the action by providing a ticketing structure catered to all patrons. This Toronto Arrow season will be held at two locations, both York Lions Stadium and Lamport Stadium. Cosmos Sports will be onsite at all the games to ensure a seamless transition from online to in person ticketing experience.

Come out for the Toronto Arrows 8-game home stand to close out the Toronto Arrows’ inaugural season in the MLR! We look forward to seeing you there!

For more information on the Toronto Arrows and ticketing, please contact – Michael Pedretti at mpedretti@cosmossports.com.

For more information on the Toronto Arrows and their sponsorship needs, please contact Cosmos Director of Marketing & Strategy – Evan Colborne at ecolborne@cosmossports.com.

And for any additional information about Cosmos Sports & Entertainment services including ticket sales, corporate sponsorship, marketing, and digital media, please call 905-564-4660 or visit www.cosmossports.com.

Categories
News

Cosmos Sports & Entertainment Sweeps in New Partnership with CurlON

NEWS

COSMOS SPORTS & ENTERTAINMENT SWEEPS IN NEW PARTNERSHIP WITH CURLON
COSMOS SPORTS & ENTERTAINMENT SWEEPS IN NEW PARTNERSHIP WITH CURLON

By Olivia Sala | February 25, 2019

Cosmos Sports and Entertainment is pleased to announce its newest partnership with CurlON. For the next two years, Cosmos will be handling all sponsorship related tasks for the Ontario Curling Association.

Cosmos has a long and successful history when handling sponsorship needs for various teams, leagues, and organizations around North America. They are looking forward to reconnecting with some of the many contacts they have created around the province over the years, which will put them in the right position to succeed during the partnership.  Cosmos couldn’t be more excited for the opportunity to keep the tradition of “Winning the business” going with CurlON.

 Cary Kaplan, President of Cosmos Sports & Ent. said: “We are thrilled to partner with a historic organization like CurlON, for over 100 years they’ve operated on many of the base principles that Cosmos operates under—including hard-work and integrity, which is what is going to make this partnership a strong one”

“CurlON is excited to partner with Cosmos Sports in an effort to raise the sponsorship profile and increase our exposure provincially,” says CurlON Executive Director, Stephen Chenier.

 CurlON has existed since 1875, and operated under the name “Ontario Curling Association” until its 2016 rebrand—Since then, the organization has accumulated over 44,000 members and has affiliations with 192 curling clubs around Ontario. It is the official governing body of the great sport of curling in Southern Ontario and has been steadily growing in recent years.

 For more information on CurlON and their sponsorship needs, please contact Cosmos Director of Sales and Service– Justin Bernardo at jbernardo@cosmossports.com

 And for additional information about Cosmos Sports & Entertainment services including ticket sales, corporate sponsorship, marketing, and digital media, please call 905-564-4660 or visit www.cosmossports.com.

Categories
News

Cosmos announces expanded partnership with the Hamilton Philharmonic Orchestra

NEWS

COSMOS ANNOUNCES EXPANDED PARTNERSHIP WITH THE HAMILTON PHILHARMONIC ORCHESTRA
COSMOS ANNOUNCES EXPANDED PARTNESHIP WITH THE HAMILTON PHILHARMONIC ORCHESTRA

By Olivia Sala | December 7, 2018

After another successful concert season in which both the Hamilton Philharmonic Orchestra (HPO) and Cosmos Sports and Entertainment surpassed benchmarks previously set in 2017, Cosmos Sports and Entertainment is pleased to announce that the partnership will be expanded upon.

Since 2012, Cosmos Sports and Entertainment has partnered with the HPO to assist the organization in meeting its ticket sales and outreach goals by engaging with current and former concert goers in the Hamilton community. This drive and commitment to servicing the community has lead Cosmos to surpass yearly targets and has lead to the continual growth of the HPO as an organization.

The expanded partnership between Cosmos and the HPO will include broader outreach into the Hamilton community to engage and evaluate potential sponsorship fits for the HPO.

Cosmos President Cary Kaplan said:

“After working with the Hamilton Philharmonic Orchestra for many years, the impact that the organization has on the Hamilton community became clear to us. It then became important that we assist the HPO in deepening their relationship with the community and reaching their financial goals. We believe that our new partnership will strengthen that effort.”

For more information about the Hamilton Philharmonic Orchestra and ticketing info, please contact Cosmos Director of Sales & Service – Justin Bernardo at jbernardo@cosmossports.com . 

And for additional information about Cosmos Sports & Entertainment services including ticket sales, corporate sponsorship, marketing and digital media, please call (905) 564-4660 or visit www.cosmossports.com

Categories
News

Sponsorship Expert available for Media

Cary Kaplan, founder and President of Cosmos Sports & Entertainment is a leading Corporate Sponsorship expert. In addition to his role with Cosmos, Cary also serves as President & General Manager of the Brampton Beast Hockey Club, the ECHL affiliate of the Montreal Canadiens.

Prior to founding Cosmos, Cary was a proud employee of the Edmonton Oilers as President of their AHL team, the Hamilton Bulldogs. Cary also served as the Commissioner of the Canadian Soccer League from 2005-2009.

Cary’s professional career in Sponsorship has spanned more than 20 years having personally sold millions of dollars of sponsorship in addition to consulting for dozens of groups on their sponsorship programs.

Cary is available to discuss and comment on all corporate sponsorship related matters, including topics such as:

  • Naming Rights
  • Municipal Sponsorship
  • University Sponsorship
  • Athlete Sponsorship
  • Non-Profit Sponsorship
  • Amateur Sports Sponsorship
  • Professional Sports Sponsorship

Media Contact

Evan Colborne
905-564-4660 ext. 237
ecolborne@cosmossports.com