AEG Europe is the owner of The O2 (Europe’s most popular entertainment venue) and Wembley Arena, amongst many other global venues of note. As the competition to attract and retain sponsors intensifies and relies evermore on delivering sponsorship return on investment (ROI), Strive was tasked with upskilling and providing ongoing support, to the partnership management team with the aim of growing long-term revenue by delivering evidenced value.
Sponsorship return on investment (ROI) scope of work
- Run partnership best practice workshops for The O2 and Wembley Arena sponsor relations and sales teams
- Coach the sponsor relations team on how to build sponsorship return on investment (ROI) models and use them to both inform decision-making, as well as evaluate it
- Provide ongoing support as the:
- The sponsor relations team implemented the models with current partners
- The sales team implemented with prospects
- Work with the market research agency to deliver actionable insight for partner brands
All elements were successfully delivered. The teams were trained to a level where they could then deliver this on an ongoing basis without the need for further support. The client was delighted, saying it had a significant impact on new business and retention discussions right from the start. Staff members also felt more confident and that they had developed their professional skills with meaningful processes and techniques.
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Frequently asked questions
What is a good ROI for a sponsorship?
There is no set ROI measurement methodology, therefore there isn’t a single currency of ROI values where like for like can be compared. Sponsors also don’t share publically what they believe their ROI to be, therefore it is hard to say what good is. Value can also come in different forms, not just monetarily but with changes in brand awareness, brand perception etc.
What is the average ROI on sponsorships?
A ratio of 3:1 is sometimes banded about as the average (i.e. for every £1 you spend you get £3 in value). This is based on the advertising equivalent value or the AEV (if I was to buy this amount of exposure as an advert, how much would it cost), which is a traditional metric that doesn’t account for all value a sponsorship can deliver.
What does a sponsor get in return for sponsoring?
A sponsor receives commercial assets (e.g. branded areas, player appearances, use of marketing designations, use of partner IP, access to databases/fanbases, merchandise etc) that they can use as part of their marketing campaign activations to appeal and engage with the audience that their partners attract. There are a variety of types of assets and exclusive rights a sponsor can negotiate that differ from deal to deal.