By Chris Bovey, Head of Partnerships

We’re in the midst of a global pandemic. It’s an unprecedented situation that continues to evolve daily, affecting everyone across the globe, and it’s forcing us to look at our industry in a different light.

Now more than ever, it is strong and honest relationships coupled with insightful business understanding that will enable consultancies and clients to continue to prosper and meet their objectives.

In the following article I’ll explore how the world’s top brands grow powerful engagement and advocacy; how Right Formula’s approach and focus towards cultivating valuable relationships distinguishes it in the marketplace; and why this focus has become particularly pertinent given the current circumstances.

Brands

Whether it’s scrolling through content on our phone, browsing the aisles of supermarkets or simply walking around our own home, every day we interact with hundreds of different brands. To many of them we attribute little significance, but there are certain brands that do hold a special place in our hearts. 

These brands have fostered a unique brand loyalty and affinity with their consumers, in a similar way that sportspersons or teams can build strong connections with their fans. Such brands are able to do this because they capture our imagination – they inspire and allow us to connect on a deeper level with them. If brands were people, we would think nothing of admitting they build emotional relationships with us.

The way that brands grow affinity and loyalty is a strong model to reference when relationship building with our own clients.

 

Right Formula’s approach

Founded 11 years ago, Right Formula understands that one of its greatest tools in delivering exceptional business results is its ability to establish, nurture and maintain genuine relationships within the sports and entertainment industry.

In a world that’s becoming ever-more focused on buzzwords, jargon, data and metrics, it’s vital that we understand our clients and their business on a deeper level than just being able to recite their objectives or latest brand guidelines.

It can be easy to forget that we work in partnerships – synonyms of which are relationships, connections, collaborations and unions. As individuals and wider teams, it is the people that bring businesses their success. 

Right Formula is a consultancy that’s passionate about nurturing meaningful relationships, to ultimately ensure investments drive business performance. Such an approach gives us an edge against our competitors, allowing us to provide tailor-made solutions that deliver exceptional results.

Our Activation team has served at clients’ side for multiple terms. Highlights include supporting Hilton for over 10 years and through the recent acquisition of Marketing Minds, we have strengthened our client roster with ExxonMobil, who have worked with the team for over 20 years. Through a rapidly changing sponsorship landscape, such unique insight and understanding enhances our ability to deliver all-encompassing programmes and develop new approaches as required. This allows us to frequently push beyond our original scope of work, as with Hilton, whose sports sponsorship portfolio we’ve helped grow to now include their partnership with the European Tour.

Regardless of business acumen or textbook knowledge, without strong relationships and deeper understanding, delivering tailor-made solutions that yield exceptional results is impossible.

PARTICULAR PERTINENCE

Given the impact that the current situation has had across the sports and entertainment industry, both clients and consultancies are meeting their own challenges. At Right Formula, we are confident that it’s our shared history and mutual understanding grown from strong relationships that helps us demonstrate value as we navigate through this uncharted territory together.

We have become extensions of our clients’ teams and we are ingrained into their business, just as they are ingrained into ours. Our tried and tested approach is enabling us to work with all our clients to rework their annual plans, renegotiate contracts where appropriate and develop and execute pivot strategies. 

In Closing

This situation may be challenging, but it’s also an opportunity for us to do things better; to thrive.  With a captive audience of sports and entertainment fans stuck indoors, we have the opportunity to change the way we approach our work and how we attract their attention. Brands have the opportunity here to use new mediums to deepen their engagement in ways that traditional event activation – which so many still prioritise – may struggle to achieve.

Despite the current climate, we can continue to deliver exceptional results. Our focus on true understanding, honest relationships and trust with clients is what will enable us to find a way through. Right Formula and its clients are ready to weather the storm.