Paula is joined by Amber Burda of the Houston Livestock Show & Rodeo on the latest edition of the 7in7 series. With years of sponsorship experience on both sides of the sponsorship table, Amber has brought innovative ideas, enthusiastic leadership, and substantial sponsorship growth to the Rodeo. Paula and Amber talk about how the Rodeo cancelled mid-season and how Amber took the bull by the horns and pivoted their partnership efforts in exciting new ways.
Check it out!
Here are a few key takeaways from the conversation:
- Put your team strengths to work
Take a moment to step back and see how you can use your team in the most effective way, even if that means restructuring how they interact and function.
- Remember every partner has a distinctive situation
Every partnership is unique, and therefore every contract and expectation for fulfillment is unique. Before you have the conversation with your partner review your contract and determine what are you able to fulfill or not fulfill, think about your past, immediate and long-term relationship, and consider how COVID is impacting their business.
- Play the long game
No matter how COVID has impacted your event, whether it has been cancelled or rescheduled, make sure you are engaging your partners at every step along the way. What are you doing now that will impact how partners engage next year or in the next 5 years?
- Engage in conversations
Make sure you have open conversations with all your partners to determine who is ready to renew, who may need to extend negotiation talks, or who may no longer be able to partner with you due to COVID impacts.
- Maximize digital
Be creative with ways to engage your stakeholders and partners in new digital ways. Think about the mission and values of your organization and your partners to see how you can create unique, engaging activations.
- Take action
Take the time to adjust a partnership based on your partners latest objectives. Objectives are always likely to change each year, but now more than ever, you should be in constant communication to assess what has shifted due to the recent economic and industry impacts.
Be the first to receive insights, ideas, and resources to master the art and science of sponsorship marketing.
Subscribe now at caravelmarketing.com/news