Five Iron Golf

Exclusive Moments Build Loyalty

One of the biggest shifts has been the explosion of the digital landscape. There are now countless ways for brands and audiences to connect with sports and entertainment virtually through streaming, social media, digital content, gaming and other emerging platforms. The barrier to accessing sports and reaching sports audiences has become significantly smaller, creating more opportunities for brands to engage fans wherever they are.

At the same time, I think the in-person experience has become more important, not less. Fans are increasingly looking for experiences rather than simply attending an event. That has created an opportunity for brands to provide unique, moneycan’t-buy moments whether that’s exclusive access to athletes, behind-the-scenes experiences, VIP hospitality, personalized content or opportunities that fans simply couldn’t get on their own. Those experiences create excitement and give brands a way to differentiate them while building a more meaningful connection with the audience.

Understand the Other Side First

I think it’s important to look at a potential partnership holistically. Obviously, you need to understand what the partnership will deliver for your own brand whether that’s visibility, customer acquisition, greater efficiency in going to market, or incremental revenue. But equally important understands what the other side is getting out of the relationship.

Business development and partnerships are about people as much as they are about deals. Building and maintaining strong relationships is one of the most valuable investments you can make in your career.

The best partnerships are built around a genuine alignment between two brands audiences, values and objectives. A successful partnership is one that both sides want to continue and expand over time. If your partner is seeing real value, trusts you and believes you’re committed to helping them achieve their goals that ultimately becomes a benefit to your own brand as well. The strongest partnerships become mutually beneficial relationships rather than one-off transactions.

Respect Creates Long-Term Career Value

The world of partnerships, particularly within the sports ecosystem, is relatively small. The relationships you build today can have value years down the road, because you never know who you’re going to work with or potentially work for at another point in your career.

I’ve also always tried to operate by a simple principle: treat everyone you work with, internally and externally, with dignity and respect. I’ve seen people treat relationships transactionally or use others as pawns to accomplish a short-term objective. I don’t think that’s a sustainable approach. Whether its a colleague, direct report, prospective partner or senior executive, people remember how you treat them. Building a reputation as someone people trust, respect and genuinely want to work with goes a long way in building both a successful career and a strong network.

Diversified Reach Matters Most

The biggest change will continue to be how people consume sports and entertainment. We’ve seen a dramatic evolution over the last decade from traditional cable and linear television to streaming, social media, short-form content and other digital platforms. It’s safe to assume that evolution will continue, although it’s almost impossible to predict exactly what the landscape will look like ten years from now.

For brands, that means being nimble is critical. I don’t think you can invest too heavily in any single platform or distribution channel because consumer behavior will continue to change. The brands and partnerships that can adapt quickly, diversify how they reach audiences and evolve with the consumer will ultimately are best positioned for the future.

People Matter Beyond Deals

Relationships and your network will always be among the most important assets you have in this industry. Treat your bosses, direct reports, counterparts at other brands and everyone you interact with dignity and respect. People remember how they are treated, and the person you interact with today could very well be someone you’re working with or looking to work with years from now.

If you can build a network of people who respect you, trust you and genuinely want to work with you, your job becomes a lot easier. Ultimately, business development and partnerships are about people as much as they are about deals. Building and maintaining strong relationships is one of the most valuable investments you can make in your career.