Korn/Ferry International Won't Renew Sponsorship

There is an insightful article about Korn/Ferry International's three year sponsorship ($965,844 total) of Opera Holland Park in London.

Jerry Gray, the COO of Korn/Ferry U.K. gives us a clue as to why they entered into the sponsorship. It seems to boil down to acquisition/retention and visibility. This is how he put it:

“Opera Holland Park is about finding and nurturing new talent, and that’s what we do too. And we’ve brought around 2,500 clients and potential clients to some great productions. Our media coverage has increased, and we’ve generated a tremendous amount of good will. It has definitely helped lubricate the flow of our work.”

Apparently they are not renewing due to the economy and the simple fact that the deal term was three years. The latter seems odd to me only because my experience is that the longer the relationship, the stronger it grows.

Toward the end of the article, Michael Volpe the general manager of Opera Holland Park makes a case for the value of their company by saying, “In terms of sponsorship we are excellent value. We’re not too formal, we provide opera at the highest level, we’re based in London, and we’re situated in a beautiful park. I don’t think that businesses are suddenly going to stop wanting to meet clients in pleasant surroundings and see great opera.”

My advice: Michael, you MUST come up with a better value proposition or you'll be in deep trouble.

1. Create a case study out of the Korn/Ferry partnership.

2. Clearly show prospects how you helped Korn/Ferry to achieve business goals such as acquiring new clients and building visibility.

3. Highlight innovative aspects of the partnership. For example, perhaps you worked with their recruiters on a mini email campaign that helped Korn/Ferry land ten new clients within a month.

4. Ask Korn/Ferry to introduce you to potential sponsors and set up a meeting.

5. Come up with ways to help strengthen your relationship with your audience through social networking and email campaigns.

6. Ask your audience how a corporate sponsor could add value to their experience with the Opera. I think you'll get some great ideas and I bet not one person will suggest more logos.

7. Put yourself in the shoes of a potential sponsor. Why would you invest nearly $1 million over three years? Surely it isn't because the Opera is situated in a beautiful park.