Honoured to have such a diverse and informative panel for our last MPW Web Series. See highlights below.
1. Our industry needs a mindset change, finding the right model that fits the needs of sponsors is very important and must be data driven
2. Stand out proposals to sponsors must meet their businesses objectives more than ever
3. Sustainable marketing is the new priority for many businesses and a current trend
4. Strategic fit for both parties should be the starting point before rights and benefits are even considered
5. Consider how a rights holder and sponsor can learn from each other in a true win:win partnership. Important for brands to move beyond “master:servant” relationships to also understand and support the business objectives of the rights holder.
6. Many Brands can and will offer significant “non cash” value (as distinct from traditional VIK) as part of a commercial deal , this can assist a rights holder hugely eg TCS brought 16 of their ‘brightest minds” to the first operating meeting with London Marathon Events to explore how they could jointly create greater value for the entire eco-system including participants and other sponsors. May be hard to quantify the value of this.
7. Purpose is a key driver, “profit with purpose” partnerships will be very successful in the future
8. Using digital capabilities to enhance audience engagement beyond the event is critical with the sweet spot averaging approximately 6 months. 63% of the audience have invested time and resources in creating digital assets and 68% indicated that they have year-round engagement with their participants.
9. Finding a metric to measure engagement and move beyond traditional exposure metrics is important.
10. Mass participation communities tend to be hugely engaged with an event, far more than many other activities and experiences. This is a significant strength of the industry and value for a partner.
11 Moving beyond the Pandemic, rights holders will need to decide whether virtual events are an extension of an overall event experience or separate to a physical event – both have merits. 79% of attendees indicated that they intend to continue with virtual events post-Pandemic
12. FIFA and F1 are using eSports to bring people into their physical sports, an example of how the MP industry can use virtual events to attract potential new participants.
13. Events should focus on improving the quality of their databases; having detailed information offers real value to a brand.
14. Huge opportunities for authentic content which does not have to be created through high budget big production. Find the right tone for your audience and collaborate with your partners.
15. 21% of attendees do not see value in creating an event experience that stretches beyond the “traditional” elements of an event.
Hope to see you on Thursday 15 July for another MPW Web Series, talking about “Sustainability: Much more than delivering environmental outcomes”
5am Los Angeles
8am New York