The People Factor: the importance of relationships in sponsorship
A recent study by Irish sponsorship consultancy, Livewire, highlights the importance of personal relationships in sponsorship. While ingredients such as sound insights, clear objectives and exceptional activation are essential for brilliant sponsorship, Livewire’s research shows that it is ‘The People Factor’ that plays the vital role in the success or failure of the best sponsorships.
Livewire, part of Core Media, Ireland’s largest media group, conducted in-depth interviews with over thirty sponsors and rights holders in charge of some of the best sponsorships in Ireland. The aim of the research was to understand how the people behind the biggest sponsorships manage their relationships and to pass on the learnings to the wider industry.
While the report highlights the value of personal relationships, it also un-earthes common frustrations including a lack of clarity around the objectives of sponsors and rights holders and a lack of respect between those involved. Also included are tips and quotes from leading industry practitioners:
“Don’t squeeze too much out of the contract, you never come back from a bad start”
“Paying for a sponsorship is the first step, not the last”
“Say no quickly to the opportunities that don’t fit, but say yes slowly”
“When everyone has ‘skin in the game,’ everyone wants to make it work”
ESA members are able to view a copy of The People Factor: the importance of relationships in sponsorship in the members only area of our website: Resources – Industry Reports and Good Practice Guides.
For more information or to request a copy of The People Factor: the importance of relationships in sponsorship please email: info@livewire.ie
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About Livewire:
Livewire, the complete sponsorship agency, is part of Core Media.
Core Media is Ireland’s largest media communications group with billings of more than €160 million per year. The organisation is made up of nine agencies: Clear Blue Water, Ignite, Livewire, MediaVest, Mediaworks, Publicis Engage, Radical, Starcom and ZenithOptimedia.
Please direct all enquiries to:
Jamie.macken@livewire.ie