Companies spend millions of dollars on sports sponsorships. Although these sponsors work hard to optimize the terms of their deals, they often overlook significant inefficiencies in how they manage their sponsorship investments. As a result, they waste time and money on repetitive tasks and fail to have the information they need to make effective business decisions. These problems affect every level of the sponsor’s organization, from the executive suite to the teams activating assets in the field.
Much of the inefficiency results from the lack of current, centralized information on assets and events. Despite sophistication of their other business systems, too many companies still manage their sports and entertainment sponsorships with spreadsheets and emails and by digging through contracts. Sponsor and agency staffs spend hours looking up and entering information. Executives who need the latest information have to wait for answers while details are searched. Agencies spend too much time entering information and not enough time analyzing results and making recommendations.
You can’t manage what you can’t see. Without real time information available to the entire team on a 24-7 basis, some people have access to the information they need while others do not. Worse, some people have access to information that is out of date.
At the operational level, the lack of current information affects every member of the team. What assets do we have at the Pittsburgh Steelers? What events are coming up this weekend and who has been invited? How many tickets remain unallocated for next month’s games? Where can we get a list and photos of all our stadium and arena signage so we can determine if we need to swap out creative? Have approvals been received for our radio spot scripts? While many of these operational questions primarily affect the activation teams, others affect senior management and the sponsor’s guests. Has the CEO been sent the latest update for her custom itinerary for this week’s race? Has special guest Jim Smith checked in for the golf event? Do we have any seats left for the charity dinner?
At the strategic level, the lack of current information can drive bad decisions. Which of our contracts have opt out dates? What are our season-to-date brand impressions across MLS? What is the valuation of our Braves assets? What are we paying for those assets? What is our geographical coverage during the football season? What brands are we promoting this fall and where? How does our asset valuation compare to the cost of our partnerships?
Most of these inefficiencies can be reduced by replacing spreadsheets with an integrated cloud-based management system accessible to the entire team, 24-7, on any desktop or mobile device. That’s why Playoff Technologies built Sponsor Locker, a comprehensive software-as-a-service tool focused on sports sponsorship management.