WITH SPONSORSHIP, AN INCONSISTENT APPROACH IS AN INEFFICIENT APPROACH.
A brand may have dozens, hundreds, or thousands of sponsorships in its portfolio, across geographies, business units, brand leads, commercial leads, and more. They may range in size from small to medium to large investments.
In terms of total investment, brands spend millions year over year activating these partnerships, each with its own unique set of opportunities, differences, and complexities.
Without a consistent approach—to objective alignment, renewals, measurement, internal buy-in, asset scoping, rights fees spend, and activation—complexity can lead to inefficiency.
Inefficiency means missed opportunities.
Lumency helps brands put the rights tools and protocols in place to reduce these inefficiencies and inconsistencies, and ensure sponsorships are delivering on defined objectives.
LUMENCY CAN PROVIDE A MODEL FOR MANAGING SPONSORSHIP INVESTMENTS MORE EASILY & EFFECTIVELY.
Lumency’s proprietary sponsorship governance model, Sponsorship Accelerate™, provides direction to help your brand make better decisions around sponsorships and ensures your brand is acquiring the right assets with the appropriate level of support.
The tool is customized to your brand and business, all while working with your organization’s existing processes.
OUR MODEL CREATES CONSISTENCY AND EFFICIENCY BY DELIVERING:
CLARITY & ACCOUNTABILITY
Governance drives coordination, involvement and collaboration with all key stakeholders providing clarity on who is responsible, accountable, consulted, and informed (RACI). This accelerates internal buy-in and reduces unnecessary back-and-forth.
STANDARDIZED MEASURMENT
Pre-planning your brand’s measurement protocol helps identify gaps and allows your brand to course correct in time to impact results, while ensuring sponsorships and activations demonstrate ROI in meaningful ways.
OBJECTIVE ALIGNMENT
Strong governance keeps you anchored to overall sponsorship strategy in order to meet your business goals and protect your organization’s interests.
PERFORMANCE VALIDATION
Performance-validating sponsorships up for renewal builds confidence in your investments and prepares your brand for more effective negotiations.
By implementing a sponsorship governance model, brands can leverage built-in guidelines and processes to get ahead of renewals and deadlines and quickly and easily gain internal alignment, ultimately building confidence in investments and reducing inconsistency and inefficiency.
Eager to improve decision-making around sponsorships?
We can help you build and implement processes that work for you and your organization.
By: Kirby Zdrill
