COVID-19 has fundamentally altered the entertainment and sports sector and may lead to more semi-permanent or permanent alterations. These alterations will have dramatic impact on sponsorship, both in terms of the efficiency/effectiveness of specific sponsor benefits and rights – and on cost. Many sponsors have signed agreements with partners for this year, and potentially for a longer term. The facts and information that drove those decisions are now different. GMP collaborates with its clients to:
- Audit your sponsorship portfolio
- Support property re-negotiation and re-contracting where appropriate/relevant
- Instill discipline and process in all sponsorships that –
- Articulate the role of sponsorship
- Establish specific, transparent, and quantifiable business and brand objectives
- Create a sponsorship strategy road map
- Benchmark current status vis-à-vis the objectives
- Construct a process model
- Instill a planning process that adheres to basic process discipline
- Develop sponsorship best practices
- Design impact research