Measure What You Sell:
If you're not measuring what you sell, you don't know Jack.
Published on November 19, 2019
Jack Birch solves problems. As sponsorship sales consultant to the pros, Jack coaches salespeople to keep the compass in mind. True north is to help brands “teach your difference.” You tell their story. What’s different. What’s better. Central to telling a brand story is sharing the “big idea” behind the brand with fans.
A brand is an idea. It’s not a product. It’s not a thing. Or a service. It’s a concept. It’s what the brand wants to represent in the minds of its customers. A brand is a premise with a promise. Brand partners want you to share this big idea so your fans become their fans. They want you to share brand meaning.
Shared meaning is the first M to measure, followed by Money, Medium and Momentum.
Properties sell the means to bring meaning to life.The big idea gets bigger when you share it with your fans.
Take a law firm. Please.
No one takes time to learn about lawyers until they need one. That changes when a law firm partners with a pro team. Passionate fans of the San Antonio Spurs know the Davis Law Firm “fights for your future” and overwhelmingly know their phone number is (210) 444-4444. New Orleans Saints fans know Dudley DeBosier is the official team partner that provides free Uber rides after the game, illustrating the personal attention fans get with the firm. And, yes, fans know their number is (504) 444-4444. Just goes to show when people need an injury lawyer, best not have them recall too many numbers.
Do you know the meanings of the brands you manage? The ones you’re pitching? If you don’t, you don’t know Jack. But, if you do know Jack (that’s him, far right), then you know the meaning of life. Well, at least you know to find the one or two words the brand wants to own in the minds of fans. The next question is: Are you measuring it?
Stay with us here. The two things all brands want to do are:
Properties pitch and promise ways to help brands sell more stuff and grow profits. Properties promise to add more bank accounts, airline app users, weekly grocery shoppers, or daily coffee drinkers. We are in the business of helping properties include valid measures to prove they deliver on such promises.
Teams offer the medium of communication to reach fans. Teams don’t sell the rights to marks/logo, LED, scoreboard signage, naming rights, broadcast ads, website banners, social media, game promotions, and jersey patches. It’s not a media buy. Brands can get lower CPM elsewhere. Brands partner with the property to get access to effective media. Brands want to improve communications and inspire the community. Brands want to know if fan passion transfers to the brand.
If properties sell sponsorships because it works better than traditional media, it would be a good idea (it’s really our big idea) to measure just how effective the sponsorship medium is. In fact, it’s our moral obligation to measure what we sell. Otherwise, what are we doing? (→)
We help properties measure the effectiveness of each medium used by the sponsor to share meaning and make money. The sponsor sees the relationship between the price they paid and what they get. That’s the definition of value.
The brand’s meaning differentiates it from competitors. The lift in brand equity from sponsorships assures the brand’s future. Our measures of differentiation and brand strength are shown to drive stock market price and allows the brand to charge more.2
Each brand then, one hopes, is different. Each has specific goals to benchmark and measure over the course of the contract and year-over-year. Toyota is the official partner of the Vegas Golden Knights. Partnership recall is great (51%) compared to average (~40%) and for the auto category (42%). Even better is knowing these fans are more than twice as likely to have test driven a Toyota in the past 12 months and twice as likely to have test driven a Toyota over a Honda. Better still, the number of fans who own a Toyota is up 78% among those who recall Toyota as the team partner.
When we measure results over the course of the contract we demonstrate the momentum will continue when the brand renews the partnership.
Membership has its privileges. Maybe it’s the fifth M. Join the 20 other pro teams that measure what they sell.