Recently, Gillette decided to can its MLB sponsorship…. And I don’t mean the type of can that holds shaving cream. This announcement says so long to a 100-year sponsorship – one of the oldest in the league. Is this a sign of more things to come?
Sponsorship activations are a desirable marketing platform for brands that want to thrust themselves into the spotlight. But if you want one, prepare to open your wallet. Wide. It might be glamorous but it’s also a costly proposition seeing your name in lights (or on banners, doors and windows, etc.). Your brand is also following the brand that came before it, and before that one and so forth.
Sponsorships are also one of the biggest revenue generators for many entertainment and sports properties. But they often don’t pan out for the sponsoring brand. Take Papa John’s, which recently severed ties with the NFL, or Bridgestone that cancelled its World Golf Championships sponsorship. While the brands both still promise to be involved with the respective sports, the larger investments were clearly not reaping enough benefits to justify their extraordinary cost. That’s a big chunk of change to toss down the toilet. Of course sponsorships aren’t totally worthless. But one of the things brands often fail to recognize is how to make the marketing partnership – whether paid or unpaid – work more in their favor and deliver better brand experiences.
Here are a few BrandAgent tips for creating better brand alliances:
Want more information? Ask Regatta, The Original BrandAgents partnership marketing agency. We’ve been helping brands maximize their marketing partnerships for over 15 years. Reach out. Stop by. Say hi. We won’t bite. We promise.
Regatta is The Original BrandAgent, singularly focused on Partnership Marketing. Sam Kaufman is the founder and Chief BrandAgent.