Transactional Sponsorships on the Decline
- Charles Badoian
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While technology allows us to track data down to the near nanosecond it was produced, it’s only part of the equation. Building relationships is paramount to staying competitive.
My father started his professional working career as a dishwasher and worked his way up to corporate trainer at Pizza Hut. To this day, he remains at the helm of our our family-owned restaurant.. Needless to say, there was a rather high standard of work ethic lived out in our home in my formative years that’s undoubtedly shaped the way I lead and contribute to Boardroom Events to this day.
I am also one of four boys. Having three brothers made me pretty competitive, too, so that’s still both a personal and professional motivator.
The restaurant business is a tough one, and the digital age of online reviews has made it even more challenging. Surviving the first year is step number one. Responding appropriately to criticism and providing excellent customer service are absolutely non-negotiable. I’ve heard it said that when someone likes your restaurant, they’ll tell a few people. But when they have a bad experience or bad food, they’ll tell everyone.
A good work ethic, fiercely competitive nature and a continued focus on customer service are characteristics of each Boardroom Events team member. We may not be the biggest, most prominent meeting facilitator in the market, but we create some of the most loyal clients and customers.
Why? Because we work daily to remain true to our core mission of building relationships.
Do we miss the mark sometimes? Of course.
Do we continue to persevere in the face of adversity? Absolutely.
Customer strategy consultant Esteban Kolsky reported recently that customer service channels are seeing a marked decline in phone calls and email while social channels with chatbots, mobile and self-service show significant increase in usage, particularly in the last two years.
As organizations hold their marketing department’s feet ever closer to the fire to track and valuate every single dollar of their marketing budget, it’s increasingly more challenging to place ROI on a relationship-building experience.
Eventbrite recently released a report that said the traditional transactional-based sponsorship, like tickets, trade show booths and logo placement, are a thing of the past. It’s certainly not to say those things don’t still have their place, but they’re only part of the magical marketing equation that’s constantly evolving to keep pace with the new ways in which we interact and do business.
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