|It's not long now until Rugby World Cup 2015 kicks-off and sponsors start to see a significant return on investment...|
…at least that's what they hope.
If you already know whether their event sponsorship endeavors will be likened to a World Cup win or group-stage knockout then you can stop reading now. Otherwise, this 5-step guide to sponsorship event measurement should help you understand how to deliver, measure and evaluate a high-ROI event sponsorship of any scale.
|So, using Rugby World Cup 2015 as a case study, let’s outline an approach which could help…|
|By the way, this guide brings to bear much of the thinking already shared in the Synergy Decisions white paper.|
Step 1: Understand the Pathways to Value
In the context of event sponsorship and Rugby World Cup 2015, this means understanding that the event could deliver value through different Pathways. Brands like Canterbury and Heineken will have similar rights, but will be using them to deliver different objectives. The rights will drive different levels of value accordingly.
That said, let’s consider some of the Pathways through which Heineken could drive value:
|Step 2: Identify the Value Drivers for Each Pathway|
This is crucial. Rugby World Cup 2015 sponsors must know which metrics influence how much value is being created within each specific pathway. Sponsors should ask whether their value drivers are, for example:
1 - Talking to business customers – If so, how many do we need in our hospitality suite at each match? Of the business clients who join, what share do we want to be “high” value? Of those who are “high” value, how many do we need to convert into sales?
• find where and how value could be created pre-campaign
Step 3: Build a Model
Having successfully navigated Step 2, it’s time to enter Excel and use the value drivers to create a model which helps us understand the value created within each Pathway. Let’s say that Heineken, for example, is trying to understand the Data Capture Pathway. The global beer brand’s model could be structured to make calculations using inputs like:
• # matches at which we have experiential rights
Step 4: Find the Best Possible Inputs and Assumptions
With a strong Step 1, Step 2 and Step 3 in support, finding and measuring the metrics that matter should feel less like a scrum and more like a kick from under the posts. Whether it be through consumer surveys, brand trackers, data records on the ground, web analytics, or a combination of all of the above, the key to sponsorship measurement is inputs and assumptions you can adjust but believe in.
|With our Heineken / Data Capture example in mind, imagine that they have one pop-up activation per match. Heineken could then track performance through, for example, conducting consumer surveys at each of the 48 Rugby World Cup 2015 matches.|
Step 5: Interrogate the Model
Once the detail is done and dusted, better decisions can be made more easily with the help of a user-friendly dashboard, which could look something like:
|As any Rugby World Cup-winning team will tell you, most of the hard work is done before the main event. Tough questions are asked, different tactics tested and weights lifted before the Final event itself.|
Likewise, sponsorship event measurement must be grounded in strategic analysis ahead of time, and a commitment made to analyse and gather the necessary data to find scenarios, sensitivities and breakeven points. With a clear sense of how to drive maximum value, CMOs and Sponsorship Managers alike can send staff out onto the marketing field-of-play confident their team will perform.
I hope you’ve enjoyed this quick guide on how to take a more structured approach to understanding the value of event sponsorship. If you’d like to talk in more detail feel free to email me at firstname.lastname@example.org.