Sponsors are under greater scrutiny for justifying value from their sponsorship commitments. For many sponsors, budgets and staffing are contracting. Executives involved in sponsorship at corporations have a unique feel for the public pulse. They are crucial employees for navigating through these unchartered waters.

The ISC is a facilitator for sponsor executives to collaborate on regional, national and global levels. Companies that do not collaborate are at a disadvantage. They are potentially doing a disservice to their company, stockholders and consumers. Two quotes from Thomas Friedman’s The World Is Flat that I take to heart are:

“The best companies are the best collaborators. … The next layers of value creation – whether in technology, marketing, biomedicine, or manufacturing – are becoming so complex that no single firm or department is going to be able to master them alone.” –The World is Flat, Thomas L. Friedman, pg 353

“And the small shall act big … the key to being small and acting big is being quick enough to take advantage of all the new tools for collaboration to reach farther, faster, wider, and deeper.” –The World is Flat, Thomas L. Friedman, pg 345

The ISC would like to thank those executives for your support and impact you are making on the industry.

The sponsorship industry is driven by the passions of people. Fans. Fanatics. Unfortunately in today’s world, it is a luxury for many fans of sports, the arts, and music to enjoy their passions due to the hardship and uncertainty that the economy has thrust upon us.

Sponsorship can play an important role in getting people through these difficult times.

Our industry is an industry because of the fans and we must be sensitive to their current economic strife they are experiencing. There are expectations that some fans will not accept and be frustrated at the concept of paying hundreds of dollars to be entertained for two to three hours. The cost of supporting events as well as multi-million dollar salaries

In the two cases of sports and music, they are mediums that provide an escape, a burst of pride and sense of stability for many. A global concern for the world is the deepening of the chasm between the haves and have-nots. In a world threatened by desperation, the psyche of the fan is fragile and needs relevancy.

We’ve had the luxury of taking ourselves too seriously. Entertainment mediums, as important as they are, do not compare with the angst of healthcare affordability, the security of retirement, and being able to keep the lights on or heating your home.

In the days and months ahead, properties, athletes and musicians should dedicate their efforts to developing experiences for fans that enhance their passions and reward them, not take advantage of them. There should be a commitment to increase social responsibility initiatives. More meet & greets with fans. No threat of lockouts. Commit to Fiscal responsibility. Our industry needs to have an open-mind for change. Find a way to integrate sponsors deeper into the offering.