Teaching sports marketing has given me the opportunity, if not the excuse, to look closer at specific sponsorship deals that…
Why RECAPS are CAPITALIZED
For those of you not in the know, a sports sponsorship RECAP is a detailed document that sports teams provide sponsors at the conclusion of a season (typically). When I was at ASU, we did weekly RECAPS for major sponsors during football season. (I have zero shame in admitting that I stole that idea from my friend Paul Engle who is a true industry leader and still stewards the sponsorship efforts for UCLA and the Rose Bowl.)
A well-structured RECAP should communicate the efficacy and value of a sponsor’s investment. I’ll make the same point I made in last month’s blog on activations, some local teams are very good at producing RECAPS and some teams are not. Oftentimes, this boils down to two important factors: resources and leadership.
A properly led sports property recognizes the need in validating the vast sums of money they attract for sponsorship. Creating the RECAP should serve as a priority for specific members of the staff who are able to chart out their needs by cross-referencing the contract.
The goal of any RECAP is to communicate value. However, a well-tailored RECAP not only shows the value of the partnership but also identifies opportunities for future growth. This is much easier said than done, but savvy sports marketers executing a RECAP know how to express value and include ideas for future growth in the partnership as well. For the record, I didn’t steal that idea.
Whereas the size of the investment typically dictates the size of the RECAP, a lengthy and voluminous RECAP is not necessarily a good thing. Sometimes, teams attempt to communicate value by providing the client with an enormous amount of information. Human nature leads us to think that a 120-page RECAP must mean that you’re getting a lot for your investment. This is not always the case.
If you’re investing in a sports sponsorship, you should be sure to scrutinize your RECAP. Not only to make certain that you’re getting what was contractually promised, but also to look for potential improvements that could be made for future campaigns.
Need help reviewing your RECAP? Call me or fill out my contact form here. I’ll gladly give you a third-party assessment of how I think your sponsorship is working and, more importantly, how you can make it better.