FCM Workshop: Finding New Monies

• Sponsorship necessary as new revenue stream

Sponsorship Meeting. June 5, 2015.

 

• Need an inventory
• Canadian Sponsorship Landscape Study
• Has grown $1.8bn since 2006 - 16% is local
• 29% of brands marketing budget spent on sponsorships - up 75% last 7 years
• Focus is on storytelling
• 63% remember stories while 5% remember stats
• Sponsorship thinks outside of the box
• Who should seek sponsorship?
• Parks 70%
• Colleges, universities
• Municipalities 66%
• Schools
• People want sponsorship to reduce user fees
• 78% believe no preferential treatment for sponsor
• 72% believe sponsorship opportunities are not awarded fairly
• More people own a mobile phone than a toothbrush
• Summerside had more than 200 meetings to raise $7.7 m
• Vendors are prospects
• Spending $25k to investigate sponsorship
• Lessons
• Value of discovery meetings - presentation is to be about the sponsorship and what they want
• What they want and their price
• Sponsorship is a business relationship - show ROI and Objectives
• Know what you have to sell - know what it is worth
• It is a process - be strategic & patient
• Build Relationships
• It is hard work
• It takes dedicated resources - the money is there if properly framed
• Conditions for Success
• Renaming vs naming new facilities
• Ensuring City's profile as owner/operator not compromised
• Sponsors must be compatible with city values/mandate
• Big Issues Challenge
• Staff resistance
• Equal opportunity procurement policy
• Inventory development and fulfillment
• Pros and cons of 'the city calling'
• Revenue expectations: base vs supplemental
• Actions
• Grow the team
• Professional development
• Exploring a centralized partnership office
• Toronto has 'Office of Partnerships' acting 'matchmakers'
• Cochrane is building an aquatic centre 'Rock the Waves'
• Edmonton: Front Yards in Bloom
• Considerations
• Do you need additional revenue?
• Are residents concerned with fees/taxes?
• Do we have a sponsorship policy?
• Due diligence?
• Committed?
• Integrate procurement with sponsorship