MEDIA RELATIONS: Media - The "Five Million Dollar Sponsor"

 

Media is Key to Sports & Cities, Corporate Brands

Who’s the biggest untapped sponsor in the sky?  That’s what a lot of professional sports leagues and the cities with franchises spend their days thinking about.

Sports today is big business.  Corporate dollars will be spent somewhere… as everyone wants to advertise and grow their brand.   The question is… can you create a real value for those dollars to come toward your business? Or your city? There’s the challenge.

In my day-to-day world that is now built around growing exposure and finding new ways to showcase a professional league like the LPGA, I’m involved in meetings dealing with existing corporate partners.  I’m also a part of strategy focus to locate, initiate and create new partnerships... and then build ways to create exposure. Fascinating to say the least – especially given the professional background I came from. 

That’s where my perspective might be different from others.  To me, there’s one “sponsor” that never truly gets the credit it deserves for the power it possesses.  The media. 

Yep.  The media.  You can talk all you want about the value a sponsor or partner gets from a linking up with another business.  And chat all you want about the importance of securing those partners to grow your brand.  I get it. It's real.  But those corporate partners want - and should want - to see their measured value in other ways.

 

LPGA Stars Creating Media "Impression" - Adding Value

Today, more corporations… and sports leagues…. are considering that value driven by… and given by the media.  Media victories (and measured media impressions) make the corporate growth curve far less taxing. Positive media can create momentum - which helps grow partnerships.  I know we think about it every day. 

I speak at a lot of our tournament “media days” … which include a collection of print and electronic media folks… and several in the blogging space.  Media days take place weeks or months before the actual tournament as we build media momentum in their given market.  And I preach the value of 3 things.

     Product:  If you don’t have a good product, you’ll have a tough time selling an event, or a league.  At the end of the day, you’re only as good as the stars you have to sell and the talent they possess.  Also important that the product is unique and not “just like everyone else.”

    Partners: If you have good partners… you’ve got good “connectors”… who verbally sell your product because they have a vested interest as well.  Everyone with “skin in the game” owes it to the team to promote.

    Media: Without the support of the media, you have no chance. They, too, are a partner. They spread the word to the masses a lot quicker than the corporate partners. Who gets the "last word" at a sporting event’s conclusion?    Who has air-time to share opinion?  Who has the ability to shape public opinion?  Media.

If every corporation spent the money invested into sales presentations, air travel, entertainment and hospitality on new (and more) means of media appreciation… I’d be willing to bet the sales would come easier.... as media support is tough to secure. 

Right now, we’re on a good swing at the LPGA.  There’s nothing like the momentum that comes from a few well written articles or a few news clips that tell your story. There is no price tag on that.  And it can't be taken for granted.  It comes from hard work and showing others that there's value in your product and interest in delivering stories to readers or viewers. At the LPGA, we invite the media to participate in pro-ams and provide access to events with the goal of showing appreciation for their partnership.

Power of Having Media on Your Side?

I’m not saying that businesses can truly “buy” media…. not to say they might not try to help create a designated outcome.  What I know for sure is that the media is an ally that can change the direction ... or perception ...of your business. Understand their value. 

I’ve been there and I know the value - good or bad -  of what came from my mouth as a television host on various topics.  The media is an investment well worth a few well-placed sales presentations…. and a few well-placed “thank you’s.”

Thanks for following this blog… your comments are always welcome and help shape the topics for this blog.  Thanks for sharing!

 

Thought of the Day:  When it comes to your biggest news, always put a value on those who ultimately deliver it.  They get the last word – every time.

 

Follow me @KraigKann