It can be a challenge to assure every sponsor feels like they are getting all-star treatment. Industry veteran Terry Tiernon is VP of Corporate Partnerships for the Pacers Sports & Entertainment. For over 14 years, Terry has led the pack in closing huge deals and developing meaningful and unique partnerships. Terry joins Paula Beadle and SMS for the latest 7in7 interview to share insights on how you can create slam dunk sponsorships.
Read a quick snapshot of his insights below, or watch the full interview to hear Terry’s expertise and real-world examples.
- Keep Your Team Focused
It can be challenging to supervise multiple internal teams but staying focused on the bigger goals and then breaking them down into manageable chunks will help manage productivity. With greater focus, teams can ultimately have greater success with meeting goals and putting their best foot forward with sponsors.
- Stay on the Cutting Edge
Encourage your team to stay informed and up to date on what is happening in the industry from various sources. Use a variety of data platforms, media outlets, and social channels to keep up with the latest information so that you can help generate innovative ideas and partnerships.
- Invite Sponsors to be a Part of the Fan Experience
Terry shares about the Pacers’ innovative partnership with Salesforce. Starting with understanding each other’s goals, a collaborative process helped develop benefits that deepened the connection between the Salesforce brand and Pacer fans.
- Ask Smart Questions
Make sure to understand your sponsors’ needs. This understanding will add significant value to your partnership. Think about asking questions like, how are you building your business? How do you make money? What are your challenges?
- Evolve With Your Sponsors
By engaging in frequent conversations and asking smart questions, you have the opportunity to be a part of their future. The most vital relationships can be enhanced by envisioning the future together. It shows your investment in nurturing the relationship.
- Intentionality Matters
A slam dunk sponsorship doesn’t mean checking off a box when assets are delivered. Instead, it means going out of your way to engage with sponsors to be more intentional about how you deliver the benefits you have promised.
- Think Toward the Future
Terry shares his insights about the future of sponsorship in the NBA, including his thoughts about how brands can step up to support not just the league and its teams, but also the players.
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