By Bret McCormick

OCVIBE has selected Innovative Partnerships Group (IPG) as its exclusive agency of record for the $4B mixed-use development project that is underway in the roughly 100 acres surrounding Honda Center in Anaheim. OCVIBE, owned and developed by the Samueli family (which owns the Ducks), ran an RFP, and spoke in-depth to at least three agencies, ultimately opting for IPG, which has past mixed-use district sponsorship sales experience with TD Place in Ottawa and Johnson Controls Hall of Fame Village. IPG is also working with FC Barcelona on its Spotify Camp Nou redevelopment and will focus on sourcing national and global brands to activate in OCVIBE, which will begin substantially coming to life in 2026.

“IPG has a proven track record of success for different property types,” said Graham Siderius, Head of Partnerships for OCVIBE, the Ducks and Honda Center.

IPG founder & CEO Jeff Marks said the firm was delighted to be selected for a project of such magnitude in the agency's backyard. OCVIBE is a unique sports-adjacent mixed-use development, to this point at least, in that it’s being created around an existing venue. IPG, which takes over for Premier Partnerships, doesn’t start from zero. OCVIBE has one founding partner on the books, the global insurance giant Gallagher, which has made mixed-use development sponsorship core to its sports marketing efforts. Siderius said there are four more partners signed that haven’t been unveiled yet and discussions are already underway with current Ducks and Honda Center sponsors.  

"It’s a perfect opportunity for them and they’re who we wanted to approach first,” Siderius said. "It just represents a scaled-up version and new opportunities. A lot of positive response from current partners.”

OCVIBE sponsorships will begin activating this year, whether existing sponsors or new ones. District naming rights aren’t available but dozens of other spaces, venues, and projected events (like a summer concert series) within the larger district will be. Major assets, including the 5,700-seat concert venue, food hall, an office building, and one of the first of several urban parks, will be online by early 2026. At least three subsequent phases are projected to fill out the development by the end of the decade.

“We can bring brands outside the walls of the arena, we can touch what most brands call normal daily activities,” Siderius said. “And we’re very proud of the tech stack at OCVIBE and how that’s going to be a differentiator for the development.”

Central to that will be a deployment of district-wide WiFi 7. Last year, the Ducks and Honda Center launched an in-house-developed app that is beta-testing features and functions that will tie the city-owned arena to the wider district, including the blending of digital opportunities with the physical experience. Siderius and Marks both think that OCVIBE will present an intriguing b-to-b activation opportunity for tech companies that could produce real-life examples and case studies of their tech in use. 

“What we’ve been finding out is a lot of tech companies and innovative tech companies are so excited to be part of Henry Samueli’s vision,” Marks said, "Things that have never been done.”


Originally published by Sports Business Journal

As part of Innovative Partnerships Group’s new Data Insights & Reporting division, we recently launched a survey focusing on health systems and hospitals. We currently work with several health brands and have found that, despite the hundreds of healthcare system sponsorship deals, there is very little accurate information on trends and best practices in this sector. The healthcare industry has been one of the most popular categories for properties to target for sponsorships, while offering an array of benefits to the participating healthcare companies including direct business - on-field physicians, ambulatory care, in-arena first aid centers, etc. All survey participants will receive a complimentary and comprehensive report of the findings. If you are a health system or hospital and would like to participate, you can take the survey here.

The healthcare survey follows the success of our initial survey last year on sponsorship and naming rights in the credit union industry. The results of that survey provide meaningful benchmarking results, research and actionable insights to decision makers who support and influence future partnership marketing activities that had not been typically captured for this important industry sub-sector. For a look at the results, an executive summary of our credit union sponsorship survey is available. We plan to launch our second survey of the credit union industry in April.

OCVIBE has selected Innovative Partnerships Group as its global Agency of Record responsible for securing next-generation business partnerships. Innovative Partnerships Group will lead the $4B development’s new initiative, officially launched today, to attract hyper-local companies with national reach to the immersive sports and entertainment project surrounding Honda Center, home of the NHL's Anaheim Ducks.
Phase one of the sports and entertainment district, scheduled to open in 2026, will feature state-of-the-art venues including:

The mixed-use district will highlight the technological advancement in fan experience and the global nature of the property to brands, focusing on connectivity, sustainability and new business engagement. A recently reconstructed B2B platform, that helps turn vendors into partners, has already exceeded expectations. More than one-third of B2B partner categories have been filled, with only about eight (8) more spots available over the next 12 months. After transforming the development into a global innovation showroom for vendors and suppliers, OCVIBE and Innovative Partnerships Group will turn its attention to B2C brands and retail partners.

With a diverse and thriving economy packaged with cultural vibrancy, Southern California is a hub of innovation and experiences. The region’s attractions, as well as its climate for year-round activity, make it a draw for millions both nationally and across the globe.

By Bill Shaikin - Originally published in the LA Times


Could the Dodgers really sign Shohei Ohtani to the richest contract in baseball history and still make money on the deal?

Stan Kasten smiled. After the Dodgers introduced Ohtani at a news conference Thursday, the Dodgers’ president declined to dispel the notion that Ohtani’s contract could pay for itself.

“I think this was a good deal for the Dodgers,” Kasten said, “on the field and off the field.”

The Dodgers’ legacy in Japan dates back decades, to the team playing exhibitions there under O’Malley family ownership, and to All-Star pitcher Hideo Nomo.

“Combining the most popular international player in the world with the Dodgers’ brand is going to expand that,” Kasten said. “That is going to be good for baseball, and it is going to be very good for the Dodgers.”

Let us count the ways.

The Ohtani jerseys are flying off the shelves, even the virtual shelves, for as much as $346.99 per jersey. The Dodgers are making a killing on this, right?

No. The revenue from licensed merchandise — jerseys, T-shirts, caps and so on — is split equally among the 30 major league teams, so the Angels get the same cut as the Dodgers from the sale of Ohtani jerseys. (The exception: The Dodgers get a greater share of revenue for sales at Dodger Stadium and at Dodgers Clubhouse stores in Southern California and Las Vegas.)

Everyone wants to watch Ohtani, especially in Japan. The Dodgers will cash in on selling television rights to broadcasters in Japan, right?

Again, no. Major League Baseball controls international broadcast rights and splits the revenue equally among the 30 teams.

Am I going to be able to afford to take my family to a game at Dodger Stadium now?

The Dodgers, like many teams, use dynamic pricing — that is, adjusting ticket prices up and down based on demand, rather than setting a price for each ticket and sticking with it all season. The more people that want to see Ohtani play, the more expensive a ticket is likely to cost.

“I think we have a good record here of matching supply and demand at price points across a wide range of budgets,” Kasten said. “That won’t change.”

Within hours of Thursday’s news conference, the Dodgers emailed fans, saying “It’s Sho Time” and offering dugout club seating for as much as $111,840 per seat this season. After Ohtani announced he would sign the Dodgers last weekend, standing-room tickets for the home opener were available for almost $900.

But the opportunity for the Dodgers to cash in on ticket sales is limited by the fact that they sell so many tickets already. The Dodgers played to close to 90% of capacity in the largest stadium in the majors last season. It is not as if they can now double their attendance.

The Dodgers could make more in ticket and merchandise revenue, one former MLB business executive told The Times, “but it’s pennies compared to sponsorship. It’s all sponsorship.”

What does that mean?

“There will be lots of Japanese companies — and American companies that sell things to Japan — that are going to use the Dodgers and Dodger Stadium to promote themselves,” said Marc Ganis, president of Chicago-based Sportscorp Ltd.

The first and most obvious sales pitch: jersey patches.

“This may be precisely the thing that appeals either to a high-end company, or a Japanese company that is not well-known,” Ganis said. “This would certainly put them on the map.”

The Lakers and New York Yankees each sold jersey patch sponsorships for about $25 million per year. With Ohtani, the Dodgers might be able to do that too.

The Dodgers have one other major sponsorship opportunity available. What is it?

Shohei Ohtani, center, speaks during a news conference at Dodger Stadium on Thursday.

Field naming rights, which they have tried to sell for years. Instead of playing at Dodger Stadium, the team could play at — by way of example — Honda Field at Dodger Stadium.

No one would expect fans in Los Angeles to call the ballpark anything but Dodger Stadium, but audiences in Japan and the United States would see the corporate name behind home plate — every pitch, every home game, every season.

In 2017, the Dodgers asked $12 million per season in field naming rights. With Ohtani, they could seek $20 million, or more.

“They are in a unique position in the marketplace with their sponsorship portfolio,” said Jeff Marks, president of Los Angeles-based Innovative Partnerships Group. “Having both the jersey patch and the field naming rights available now allows them to unlock value and put a premium on two high-value assets they have never sold.”

So, with those two sponsorships, the Dodgers could just about make back the $46-million annual value of Ohtani’s contract. Would there be other money-making opportunities?

Sure. The Angels did not sell field naming rights, and their modest jersey patch deal last season was sold to a local building supply company, largely because no one could promise Ohtani would stay in Anaheim beyond the season. Still, the Angels made $10 million to $20 million per year on Ohtani-related sponsorships, and the Dodgers could make more — on new sponsorships, and on increased renewal rates as current sponsorship deals expire.

The banner behind Ohtani on Thursday included a logo for Guggenheim Baseball, the Dodgers’ ownership group. If the price is right, a corporate logo could replace the Guggenheim one, visible during Ohtani’s interviews.

And, since MLB rules require the Dodgers to set aside $46 million of deferred money each year, the team could invest it with Guggenheim Partners, the financial services firm run by team chairman Mark Walter. The firm manages nearly $300 billion in investments; the Dodgers could profit by investing the pool of deferred money with the firm.

The Dodgers have $850 million in deferred payments owed to Ohtani, Mookie Betts and Freddie Freeman. Could Walter just sell the team and cash out?

Shohei Ohtani is introduced as a member of the Dodgers during a news conference on Thursday.

“That is not the plan,” Kasten said.

As the value of the team rises, Walter could sell part of the team and cash in.

During Thursday’s news conference, Dodgers president of baseball operations Andrew Friedman said: “One of our goals is to have baseball fans in Japan convert to Dodger blue.”

That could turn the Dodgers brand into a powerhouse at home and abroad.

“Right now, you go around the world, and what you see are New York Yankee caps,” Ganis said. “We might start seeing the L.A. logo appearing a lot more around the world, particularly in Japan and Korea.”

How convenient: Ohtani and the Dodgers open the 2024 season against the San Diego Padres on March 20 — in Seoul.

Sportico last year valued the Dodgers at $5.2 billion — pre-Ohtani, that is. Even at that value, the Dodgers could sell 5% of the team for $260 million, or more than half of Ohtani’s contract, to a minority owner or investment fund.

On Thursday, the Dodgers reserved a front-row seat — right next to general manager Brandon Gomes — for one of their current minority owners.

They also reserved 20 prime seats for the department charged with executing the new business plan: Global Partnerships.

Originally Published on Sports Business Journal

Combine all the disparate entities under financial services/fintech and its easily the biggest sponsorship category. A recent study from L.A.-based Innovative Partnerships Group suggests that credit unions may be the red-headed stepchild within this large sector.

Consider that around 135 million Americans now belong to a credit union. Half of the credit unions with naming-rights deals surveyed by Innovative Partnerships Group said category exclusivity was not crucial to them, along with a greater need for branding than the large legacy financial services that have traditionally invested in sports marketing.

And it gets even more interesting.

"Credit unions are the best-kept secret in the biggest sponsorship category," said Innovative Partnerships Group CEO Jeff Marks. "They've been growing considerably since the 2007-2008 financial crisis and have a need to differentiate, which sponsorship can serve well. And they don’t have to create a community platform -- credit unions are community platforms. The trend we’re seeing is that legacy banks have gone to fewer bigger sponsorships, and fewer naming rights. That’s left a void we expect credit unions will continue to fill."

Click here to read a summary of our findings

Innovative Partnerships Group is honored to have been chosen as one of 2023's Best Employers to Work for in Sports by Front Office Sports. We are proud to be included as part of this exclusive group of sports employers judged based on leadership, commitment to diversity and inclusion, employee wellbeing and more. According to the Front Office Sports, we were counted among the top %15 of companies out of 200 surveyed.

At Innovative Partnerships Group, we are committed to our partners to consistently produce innovative solutions and to our employees to foster individual growth. We nourish community and collaboration that cultivates innovation and allows our employees the freedom to optimize their own productivity and pursue their own creative instincts. 

This is a unique opportunity to contribute to high-level projects at a young, but rapidly-growing company. We are looking for individuals that are willing to embody our culture and mission, embrace responsibility and progress with us to the next level.

Read more at the Front Office Sports website


From the Front Office Sports website about

Established in 2019, the Best Employers in Sports Award recognizes organizations across the sports industry that are doing the best for their employees.

ABOUT THE AWARD

Established in 2019, the Best Employers in Sports Award recognizes organizations across the sports industry that are doing the best for their employees. 

Whether it’s great leadership, commitment to diversity and inclusion, employee wellbeing, or philanthropic/social endeavors, the Best Employers in Sports Award looks to recognize organizations who do right by their employees.

METHODOLOGY

Working with our primary research partner, Canvs, we developed a survey with a specific set of open-ended questions designed to uncover how employees truly feel about their employer and rate their likelihood to recommend to a friend or family member.

The ranking system consists of two categories of questions: closed-ended and open-ended. Closed-ended responses consist of single answer questions and an analysis of the percentage of employees within each company that engaged in the survey.

Canvs AI also analyzes the emotions behind employee’s open-ended responses and determines if they mention specific keywords. Responses are also searched for multiple specific keywords and phrases (such as leadership, equity, or opportunities for advancement) and analyzes the sentiment surrounding them.

Once the survey is complete, all responses are analyzed, datasets are normalized, and bespoke weighting is applied to each category to come up with a single score for each company. Companies with the highest scores indicate the Best Employers in Sports.

Innovative Partnerships Group Deal Team and DaBella celebrate the announcement at Providence Park

DaBella Becomes First Portland Timbers Jersey Partner Since 2011

LOS ANGELES, Nov. 16, 2023 /PRNewswire/ -- Innovative Partnerships Group, a global leader in naming rights and sponsorships, was the agency of record for the new naming rights agreement between the Portland Timbers of Major League Soccer (MLS) and Portland-based DaBella, a home improvement services leader. The multi-year partnership marks the first-ever foray into sponsorship for DaBella.

Representatives from the Portland Timbers, DaBella and Innovative Partnerships Group gather for the jersey partnership announcement at Providence Park in Portland, OR

Innovative Partnerships Group was retained by the Timbers in March to secure the club's first jersey partner since its inception in 2011. DaBella's branding will be prominently featured on all home, away and specialty game kits and club apparel.

"We selected Innovative Partnerships Group because of their proven track record and their enthusiasm for this project, despite a relatively ambitious timeline," said Heather Davis, Timbers CEO.  "IPG has a deep understanding of the sports and soccer landscape and a really talented team that delivers tremendous value for their clients." 

As "Official Home Improvement Partner" of the Portland Timbers, DaBella aims to further strengthen its Portland community ties by supporting Stand Together Week, the Portland Timbers Community Fund, and all Timbers Youth Camps. DaBella will spearhead an exciting addition to the fan experience as well via "DaBella House," a semi-permanent, in-stadium structure, that will be the centerpiece of a new in-game, seat upgrade promotion called "Best Seat in the House."

"We could not be more thrilled to have this opportunity with the Timbers," said Donnie McMillan, Jr., DaBella Founder and CEO. "We did not view Innovative Partnerships Group as just a sales agency, but as a true business partner who helped our team understand the intangibles and non-traditional metrics that will allow us to substantially grow market-share and scale nationally."

Innovative Partnerships Group's executive team has a proven track record of assisting global sports property rights holders in generating billions of dollars in long-term naming rights and sponsorship revenue over the past 25+ years. Jeff Marks, CEO of Innovative Partnerships Group, noted, "This is a perfect example of how our company's Innovation Studio, a collaboration of business development, creative solutions, valuation and IP/asset creation, helped bring this deal together. It's a real testament to both the Timbers and DaBella of trusting our process and ultimately becoming an excellent match for one another."

According to Daniel Cassidy, VP of Partnerships for Innovative Partnerships Group, "We quickly noticed DaBella's Oregon roots and its commitment to local communities. But given its expanding national footprint, we persuaded DaBella on the power of MLS, its media partnership with Apple TV and the upcoming 2026 World Cup as a platform to leverage the jersey naming rights in top markets around the country."

Innovative Partnerships Group has extensive roots in soccer. The Timbers marks the seventh MLS jersey partnership for their executive team. Innovative Partnerships Group was the first AOR for the Canadian Premier League, working on founding league and jersey partnerships. and is currently the agency of record for FC Barcelona's Espai Barça project in a multi-year collaboration. 


About Innovative Partnerships Group

Innovative Partnerships Group is a global leader in developing long-term, revenue-generating business relationships among the most prestigious professional sports team, entertainment properties and global brands.

The company has been recognized on several occasions in recent years by Sports Business Journal as one of the leading sports marketing agencies in this industry. Innovative Partnerships Group has its breakthrough Partnership Intelligence™ system that allows both properties and brands to maximize their return on sponsorship partnerships. For more information, visit www.ipg360.com.

SOURCE Innovative Partnerships Group

https://www.prnewswire.com/news-releases/innovative-partnerships-group-announce-jersey-naming-rights-for-portland-timbersdabella-partnership-301991102.html?tc=eml_cleartime

Job Description

Innovative Partnerships Group (IPG360) is looking for a Business Development Coordinator  to join our fast-growing, start-up at the intersection of sports, entertainment, real-estate and technology.

An innovative thinker, this individual will be working closely with the Managing Director / Partner and other executives of the company to organize executive calendars and  support the Consultative Business Development studio to build effective processes for revenue generating initiatives for the Company. With strong instincts and a “get stuff done” mindset, this candidate will demonstrate an ability to proactively anticipate executive needs, promote collaboration between leadership and the team to drive efficiency throughout the organization, and galvanize business development activities.

Company Summary

Innovative Partnerships Group is a leading commercial consulting and analytics firm at the intersection of sports and entertainment and more. Our focus is on long-term revenue generation through partnership marketing. Our firm is a globally recognized organization that consults with prestige properties and as well as global brands to help maximize their sponsorship/partnership investments. We hold deep expertise in B2B partnerships, naming rights, foundational and sponsorship partnerships with a focus on sports and entertainment districts.  We successfully execute on these partnerships through its proprietary Partnership Intelligence software that provides quantitative results for media and programs/platforms as well as the direct/indirect revenue potential for both properties and brands. Additional information is available at www.ipg360.com

At Innovative Partnerships Group, our core values are what bring us together and drive us to do big things for our partners. We commit to excellence for our clientsinspirehave funcollaborate through leadership and always, act with empathy and respect. We are looking for the right individual to embody these values and communicate them to the future recruits.

Key Responsibilities

Experience & Requirements

Apply

To apply, send your PDF resume and cover letter to creisfelt@ipg360.com.

Innovative Partnerships Group is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of age, sex, sexual orientation, gender identity, race, color, creed, religion, ethnicity, national origin, alienage or citizenship, disability, marital status, military status, pregnancy or any other legally-recognized protected basis under Federal, state or local laws, regulations or ordinances.

Innovative Partnerships Group is dedicated to providing team member with a workplace the is free of drugs and alcohol. While on Company premises, where during work time or non-work time, team members are prohibited from being under the influence of drugs or alcohol.

Leader in Naming Rights/Partnerships/Sponsorship Sales

Job Description

Innovative Partnerships Group is looking for a Senior Director Business Development to join our fast-growing organization. This role will be tasked with leading business development and consulting efforts including key accounts with a focus on strategic and long-term partnership sales, external project and client management and internal leadership. A proven track record in sponsorship sales, business acumen, entrepreneurial spirit and solution-based approach are key elements for this role. The ideal candidate will have a team-oriented mindset, openness to thinking differently and a career rooted in collaboration. This candidate will also possess strong interpersonal skills and the ability to carry internal and external projects while reporting into partners of the firm and the C-suite.

Company Summary

Innovative Partnerships Group is a leading commercial consulting and analytics firm at the intersection of sports, entertainment, technology, real estate, healthcare, and more. Our focus is on long-term revenue generation through partnership marketing. IPG is a globally recognized organization that consults with prestige properties and as well as global brands to help maximize their sponsorship/partnership investments. 

In addition, IPG has deep expertise in naming rights and foundational partnerships with a focus on other verticals such as healthcare, universities, municipalities, and smart city real estate developments. IPG executes on these partnerships through its proprietary Partnership Intelligence software that provides quantitative results for media and programs/platforms as well as the direct/indirect revenue potential for both properties and brands. Additional information is available at www.ipg360.com.

At Innovative Partnerships Group, our core values are what bring us together and drive us to do big things for our partners. We commit to excellence for our clientsinspirehave funcollaborate through leadership and always, act with empathy and respect. We are looking for the right individual to embody these values and communicate them to future recruits.

Key Responsibilities

Experience & Requirements

Apply

To apply send your PDF resume and cover letter to creisfelt@ipg360.com.

Innovative Partnerships Group is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of age, sex, sexual orientation, gender identity, race, color, creed, religion, ethnicity, national origin, alienage or citizenship, disability, marital status, military status, pregnancy or any other legally-recognized protected basis under Federal, state or local laws, regulations or ordinances.

Innovative Partnerships Group is dedicated to providing team member with a workplace the is free of drugs and alcohol. While on Company premises, whether during work time or non-work time, team members are prohibited from being under the influence of drugs or alcohol.

Innovative Partnerships Group’s team of consultants, data analysts, and marketing scientists have been on the cutting edge of partnership valuation for brands and monitors the trends in the sponsorship industry. We have performed dozens of naming rights and sponsorship valuations, and over the past 12-18 months have had many clients, industry leaders and decision makers note there was a massive void in the market on data and trends related to credit unions and sponsorship.

This inaugural “Sponsorship and Naming Rights Survey” is the first time that a company has taken an in-depth look at sponsorship, naming rights trends and best practices to help credit unions maximize their sponsorship investments and understand critical best practices when negotiating and executing partnerships. The results provide benchmarking research and actionable insights to decision makers who support and influence future partnership marketing activities. 

More than 135 million people are now members of credit unions in the United States, up 44% from a decade ago. More telling, however, is credit union assets have more than doubled during that same period to $2.19 trillion. Overall credit union marketing budgets have exceeded asset growth levels, but are still relatively low compared with major financial service companies. And yet credit unions are one of the fastest growing sponsorship and naming rights categories in the industry for sports teams and universities due to expanding partnership efforts.

Committing significant portions of marketing budgets to sponsorships is new for some organizations. All survey participants reported that sponsorships have been added to their marketing programs within the past 20 years. As budgets have increased, credit unions have sought non-traditional forms of media to reach out-of-home audiences while complementing existing social/digital marketing channels. As credit unions become larger and more comprehensive financial institutions, their mass appeal has opened new avenues for marketing and partnerships.


PARTICIPANTS

This survey was conducted from April to July, 2023. Twenty-three (23) credit unions provided in-depth responses about their sponsorships and naming rights partnerships, representing a diverse group of credit unions both geographically (across 15 states in all regions of the country) and economically. Many credit unions, including some in the survey, have been expanding fields of membership and altering charters to drive growth. Notably, six of the credit unions surveyed made a change to their fields of membership within the past year.


KEY FINDINGS

The results of the inaugural study uncovered a demand for sponsorships and naming rights by credit unions. Participants look for metrics and qualitative/quantitative results to help them maximize their significant investments in sponsorship and naming rights as a percentage of their media/marketing mix. Measurement is a challenge to credit unions who typically look at traditional media channels like digital, social, OOH, radio and TV/broadcast for data.


MARKETING

Overall, typical budgets ranged up to $20 million annually. Traditional paid media accounts for less than 50% of marketing expenditures for the vast majority of those surveyed. The majority of credit unions allocate 26-50% of marketing budgets to sponsorships and an even higher percentage consider sponsorships to be a “very” important part of the overall marketing mix. This is because sponsorships offer a mix of traditional paid media advertising along with affinity marketing.

When asked about views on sponsorship asset categories, media assets were ranked highest among respondents with assets greater than $1.5 billion. Intellectual property was the most polarizing category. It was ranked highest and lowest by four credit unions each among the 14 credit unions with $1.5 billion in assets or more. That reflects the importance of tailoring partnerships to satisfy individual marketing objectives. 

In contrast, small credit unions (those with less than $1.5 billion in assets) ranked intellectual property rights as the most important and media assets as least important. 

Among individual asset categories, exclusivity ranked highest despite two credit unions giving it the lowest score possible. It was nearly universally recognized as the most effective element to drive return on sponsorship dollars. Other powerful assets were social media, promotions, on-site activations and public relations.


SPONSORSHIP

Sports is the dominant category among the types of credit union sponsorships, followed by universities, non-profits and venues. philanthropic efforts and community events.

For sports, collegiate teams are the most frequent partners for credit unions. While athletics represent one of the highest affinity groups with broad appeal, there were significant numbers of deals with student bodies and alumni associations. Alumni associations may be a potential group for credit unions to target within a university as these organizations can offer memberships that align with credit union demographics and offer penetration outside its hometown market.

MEMBERS & EMPLOYEES

We asked credit unions to assess their members’ and employees’ awareness of their sponsorships. Credit union members need a high level of engagement with their institutions given their local community ties and niche membership groups. Large national banks and other financial institutions may have a more difficult time establishing an authentic connection with consumers. 

The results show that credit unions have a lower awareness than what is deemed to be reasonably acceptable in sponsorship measurement.  There is an opportunity to strengthen sponsorship activation and measurement programs to more adequately measure the unaided brand awareness of sponsorship which is one of the most critical elements of sponsorship.

Another key stakeholder group is the credit union employees. The majority of those surveyed indicated that employees are aware of partnerships, although the numbers decline slightly when asked if employees are positively impacted. Many of the sponsorship deals are focused and aligned with marketing goals and employee benefits are a secondary consideration. About half of those surveyed leverage partnerships through volunteerism, tickets, etc. This may be an underutilized area of partnership activation, which has been traditionally focused on brand awareness.

Activations are an additional cost for partnerships that must be considered to maximize value. Most credit unions dedicated 50% or less of a sponsorship fee to activation.


NAMING RIGHTS

About two-thirds of those surveyed have at least one naming rights partnership. Credit union services are included in rights deals, but credit unions frequently offer more robust financial services. Exclusivity, which is usually a key component of deals for larger categories such as automotive and beverage, is important for credit unions - but only half of those who have naming rights partnerships include category exclusivity in the “credit unions” category for all deals while others include it in some of the time. The numbers decline for the broader banking category and financial services category designations.


BEST PRACTICES

Looking forward, credit union marketing executives are constantly looking for new ways to engage consumers. Media is a fragmented industry, but it’s possible to leverage different media channels combined with on-site activations and digital/mobile banking offerings to provide robust partnership opportunities. In addition, rights holders in emerging markets or with access to unique demographics that align with credit unions should seek ways to partner. Lastly, although the responsibility to measure a partnership could fall on both parties, credit unions desire better metrics that can be delivered more frequently to measure effectiveness.

To register for the 2024 Credit Union Sponsorship Survey, or to request a copy of the full Executive Summary, please email Jeff Dimond at jdimond@ipg360.com. 

*Innovative Partnerships Group served as the third-party administrator of the survey and held participants’ data in the strictest confidence. The questions in this survey were reviewed by a Steering Committee made up of executives from a select group of credit unions in order to ensure accuracy, relevance, and ability to make an impact for those participating.

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