The road ahead is beckoning. High-speed change in the sports industry is creating the environment for those brave enough to plunge in head first and grab the opportunities to adapt the trends into a lucrative and viable sports business.
The relationship between sport and society is changing faster than ever, understanding and anticipating that change is important.
A recent Nielsen article made the point that equality, diversity, gender, race, sexuality and the environment have a compelling impact on all areas of the sports business.
Sport itself can provide the perfect platform for corporate partners to communicate their purpose.
The NBA as an example has well-established programmes focused on social issues and giving back to the communities where all its teams are based and support them.
It is predicted that there will be no let-up in the relentless focus on sports role. Sports that cannot demonstrate their social usefulness will lose out to those that can will prevail.
Another trend that is impacting sport is the evolution of sponsorship to partnerships.
To leverage and capture the benefits of the new trends locally and globally.
National Sports Organisations are required to have a broader skill set to succeed in today’s marketplace. They must understand: brands’ marketing strategies, and be able to align their sponsorship offer with them.
Have a data-driven knowledge of their fan base and even the competition in a similar market place and understands what it is to be flexible to brands’ requirements for sponsorship assets.
National Sports Organisations are expected to have sponsorship conversations that seek to understand the corporate partner’s goals and challenges.
National Sports Organisations must convince corporate partners that they are worth the investment.
Sponsorship in the new paradigm is hard work than ever, but it can also be more rewarding.
This week the T&T Olympic Committee (TTOC) will celebrate Olympic Day on Friday at Woodford Square, Port-of-Spain. The Woodford Square will host an Olympic Day celebrations in the height of the Fifa World Cup season.
The various national sports organisations will have displays - as the theme for Olympic Day will for another year be learned - move and discover.
As stated earlier in today’s column sports in our changing society is placing greater demands on Sports Organisations to think differently.
Woodford Square here we come.
Brian Lewis is the President of T&T Olympic Committee (TTOC) and the views expressed are not necessarily those of the organisation. briaclewis@gmail.com