Sponsorship Beyond the Dotconomy - Cashing in on the Internet & Beyond. Joyce A. Schwarz, President, JCOM
Opportunity doesn't knock anymore, it clicks or texts to you now. Everywhere I go people want to know how to cash in on the Internet and what's beyond --including mobile, interactive television, social networking, viral video & more. Originally developed back in 1996 as "sponsorship for the Dotconomy--I've updated these commandments here but welcome more input from my colleagues and sponsors themselves.
As you may know, Joyce Schwarz has raised more than $200 million of sponsorship and funding for clients. Schwarz works on a monthly retainer and in most cases specializes in advising event producers and non-profits on how to raise the sponsorship themselves! For more info contact her at joycecom@aol.com.
First thing I tell them is you have to know how to use the Internet, mobile devices, broadband and the opps for interactive television and satellite and HD radio along with the traditional print & electronic dissemination methods.
Many of you have asked me to explain the rules of working with dot coms either as sponsors on dot com sites or with dot coms who sponsor your events or programs on your websites. So I've developed a list of Ten commandments for Sponsorship in the Dot Com era. Kind of the Dao of Dot Com Sponsorship.
Here they are:
The Dao of Dot Com Sponsorship-Or the Ten Commandments of New Sponsorships....
#1 Worship no false gods. Know the background of the dot com your dealing with. Research their management. Find and meet other sponsors or advertisers who have dealt with them before. How to research the company? Check them and their execs out on such trusted sources as Linkedin.com, or Hoovers.com or even go to wikepedia.org to see what the people saying about the firm. Also do a search engine inquiry to see what or who is new at their company.
Even better get yourself a consultant who has dealt with the company before. The last thing you want is to invest time to say nothing about hopes and dreams with partner that is NOT around next year.
#2 Do not take thy name in vain. Honor thyself and thy dot com relationship. Dot coms are often hot one day and dead cold the next. They want splash and splendor. Make sure you're not just road kill on the way to their IPO or next acquisition or exit strategy.
At the same time just because the Internet company or mobile service or social network you're dealing with is new doesn't mean it's a fly by night operation.
Remember Amazon.com was new once too! A good sponsorship works together to preseve your good brand name and build their brand. It's a something for something proposition.
#3 Keep a sabbath day. Make holy thy deadlines. Keep your word and make sure they keep theirs. Make a timeline and make sure that both you and the partner keep to the deadlines on the sponsorship project. Tech companies often work 24/7/365 you work long hours too. If both of you keep your deadlines and the checks coming in on time then you'll reach your goals. Be sure to have some fun along the way.
#4 Honor thy parents. Make sure you are dealing with the dealmakers from the beginning to get the sponsorship off on the right start. Don't put a junior person in to start a big sponsorship without support. You and they report to many masters.
Make sure the right cooks are in charge on both sides of the sponsorship program. And get some adult supervision. Remember gray hairs and peach fuzz do mix. Don't trust an intern's intern on either side to do a job that needs experience.
Don't underestimate someone younger than you either, remember you were smart when you were young. Don't underestimate someone older than you either, gray hairs do understand the opportunities the Internet holds too.
#5 Thou shalt not kill the deal. By killing the deal I don't mean canceling or walking away from a bad deal. I do mean wanting to do it your way, or the way it's always been done. Be open to new ideas, romance each other with your wisdom and your bottomline results. Don't get hung up on technobabble trying to one-up each other with your knowledge about the Internet or some fancy new social networking or presence or locatio based system or how Sponsorships SHOULD be done. We're all inventing the post-dotconomy together.
#6 Thou shalt not commit deal-adultery. To tech companies there IS competition, in your world you may feel that the arts all compliment other non-profits or interest in NASCAR leads to interest in Motocross but many tech companies are quite proprietary especially if they are donating in-kind or products toyou. Don't double deal with their competitors. Don't promise the sponsor one thing and deliver another. Word travels fast on the Internet and off.
#7 Thou shalt not steal credit from the partner nor the partner from you! Billing is golden --Hollywood knows that reputation matters.A bad deal has a bad smell forever. Agree on credit from the beginning. If necessary sign NDAs or non-competes but be upfront about it and don't hesitate because that person is a VIP and you're not or they are OLD Hollywood or BIG TIME Silicon Valley and you're just a start-up or you're a small nonprofit or solo entrepreneur. We are talking R-E-S-P-E-C-T here!
#8 Thou shalt not bear false witness nor shall the dot com. Make sure what is said in writing is right. Negotiate the best deal possible. Deliver what is agreed upon. Document every step in writing. Don't depend on a series of emails and phone calls on the run to negotiate a deal.
#9 Honor high tech - but remember high touch! . Online needs offline and offline needs online-it's a great duo. Make sure the high tech stuff is easy to use and make sure the offline stuff is promoted online or via text-messaging or in public spaces -- across all platforms but maybe most importantly in REAL LIFE not just on a reel.
#10 Break all the rules of the past. And, Invent something NEW.... Ask your partners not just what they can do for you but explain what you will do for them too.
Joyce Schwarz is a new media marketing expert, product and company launch guru and heads JCOM, www.joycecom.com, corporate positioning, new product launches. She is a respected speaker and book author and enjoys being booked to give paid workshops, seminars and presentations on the future of marketing.
Schwarz is probably best known for the launch of the MISSING KIDS ON THE MILK CARTON CAMPAIGN and her campaigns for 75 venture funded emerging entertainment firms beginning with emusic.com She has been introducing new products for the past 25 years for major firms such as REVLON, SHERATON, AMERICAN AIRLINES, BRITISH AIRWAYS, DISNEY and numerous high tech firms, venture capital companies and more. You can reach her directly at 310-822-3119 or via email at joycecom@aol.com
