Opportunities and Challenges. When sponsors change.
I’ve always built our core event budgets around the entry fee income alone because sponsors come, and sponsors go. Recently, Montane didn’t renew their sponsorship of the Dragon’s Back Race®, and I have a choice about how I view this. I choose to see this as a golden opportunity for the event.
Don’t get me wrong, a significant sponsor's unexpected departure is frustrating and has financial consequences. However, it is also a catalyst for transformation, and I remain optimistic about the future of this event and the broader trail-running ecosystem. Participation is booming, and in a digital age, live events remain the standout tool for a brand to reach out to, engage, and activate consumers.
Events like the Dragon’s Back Race® will never attract vast numbers of participants. The race is just too hard 😉 , but this is precisely why it has become globally recognised and widely considered one of the world's toughest mountain races. What the event might lack in participant numbers, it makes up for in reach and audience size. What it might lack in participant numbers, it makes up for with unique and compelling media content that builds brand recognition and authenticity… but only for the right brand.
Strategic alignment of the values and product of the brand with the event is crucial. Because we understand this, we have built enduring long-term relationships with sponsors across many events and years. I’m excited about the opportunities when considering who might step up and partner with the Dragon’s Back Race® in the future.
While the end of a sponsorship deal might seem like a setback, it actually opens up a multitude of opportunities, such as how we communicate with our participants, how we develop the broader audience and how the event remains authentic and deeply connected with the trail running community.
If you’d like to talk to me about how your brand could get involved with the Dragon’s Back Race® or any of our portfolio of events, please message me.
Ourea Events
#ultrarunning #trailrunning #mountain
#dragonsbackrace
https://lnkd.in/egHB4_PQ
Co-founder & CPO | Building Products, Startup Teams, and Businesses from the Ground Up | US + LatAm
9moClaire, you and the rest of your team did such amazing work. What a week.