When you’re re-creating the way sponsorships are being done, a lot of people in the business want to hear how you’re doing it. So I took some time today to speak with Scott Becher, the wunderkind sponsorship wizard of zSports and Entertainment, the promotional arm of Zimmerman Advertising.
Question: What are your top 4 tips for negotiating sponsorships in today’s marketplace:
Sponsorship engagement has never been higher or more integrated. Sponsorships can and should drive revenue and translating fan passion into meaningful ROI starts with sponsorship negotiation.
So here are Becher’s 4 “must haves” regarding the deals that he and his team work on:
1. Exclusivity: Make sure your sponsorship platform provides a competitive edge vs. your competition
2. Performance Driven-Compensation: Ensure success by tying your fees to the successful business performance of your property partner.
3. Direct Revenue: Identify revenue up-front that helps offset the sponsorship investment. ( I personally love this one. I call this results in advance!)
4. Integration: Make sure your sponsorship rights allow for activation across all media platforms
But you guys know I’m all about social. So what does all of this have to do with social? Well here’s what Becher has to say about that.
The current climate is all about social and digital media and it isn’t just hype. Sponsorship engagement has never been higher or more integrated.
As far as I’m concerned, Becher just delivered the money shot. I believe that social sponsorships…those truly engaging interactions bringing a brand together with a property, for the benefit of the fan (consumer), is where the ROI in social can really be found.
More on social sponsorships to come.
FYI, I’m planning a radio show of sorts and once I get all of the details lined up, I’m going to see if I can get Becher on as a guest.