Is your organization in the Old World or the New World when it comes to tracking sponsored content?
Every day while talking to prospective rights holders and sponsors, we can determine within a few seconds how far that team has made the transition from the “old sponsorship world” to “digital sponsorship world”. It’s based on the questions they ask and the way they go about planning for pricing and selling sponsorships. Has your organization made the switch and have the right people in place for digital? Here are some clues to tell if you are in the Old World, or the New World:
Impressions vs Engagements
Old World: How many “impressions” do we get?
New World: How many “engagements”do we get, and which content generates the most engagements?
Digital and social media interactions are generally measured in “engagements”, as where “impressions” are increasingly becoming a meaningless metric. Social media marketing is bought and sold on a “Cost per engagement” (CPE) basis, and even digital display is discounting CPM ads unless it is “above the fold” or in a space where it is known to be seen. If your organization asks about impressions, your partnership people may not be thinking about this the right way.
Past results vs Future strategies
Old World: Asks about performance “last season”
New World: Asks about best practices for creating value next season
In this world of digital publishing it isn’t always the 1.5 hours during a game that counts, but the other 22.5 hours in which you are showing content of the team training, playing FIFA in the hotel, or doing charity work. If your organization was likely not creating content last season on a 24 hour clock, you likely are not reaching your potential. The astute organizations realize they can create and affect the value for their digital partners by studying the success of other organizations and adjusting their strategy, not giving numbers for last season.
One time reports vs Real time reports
Old World: Can you give me a one time report?
New World: Can we track in real time and adjust our strategy on the fly?
If you set sail with a ship from New York to Lisbon without a compass, you likely would never get there because you couldn’t adjust as the wind and currents took you off course. Organizations that study a one time report and then make a plan for the next year are like the sailor that sets the course once and does not adjust. Digital measurement technologies allow for you to make adjustments in real time and adjust your strategy to get to your desired destination, or even change your destination if need be.
We invented Blinkfire Analytics to allow everyone in the sponsorship ecosystem enter this new world of being able to measure exposure in the most appropriate manner, in channels and media that is growing exponentially, in near real time, because we saw a lot of data floating around that was already stale the moment it was delivered.
So next time you find yourself wanting to get reports for the past to plan the future, ask yourself if you are in the Old World, or the New World.