The Luscid Story
Today’s digitally connected world makes it easier than ever before for people to engage with their passions – and for brands this leads to an Attention Economy that makes a sports & entertainment partnership a powerful route to the consumer. But it’s a sector that has been heavily influenced by personal relationships and human bias, rather than transparent, data-driven judgements. And despite a level of financial outlay that continues to grow, the industry faces a lack of trust from brand-marketers.
In January 2022 – Harry Coe and Damien Gillman recognised the need for positive change to bring decision-making in line with other marketing verticals. On a basic level, sponsorship is a marketing channel. But while the likes of digital marketing spend is primarily planned and executed by data driven ad-tech platforms – the sponsorship industry has tended to rely on an analogue human driven approach.
Additionally, many consultants or agencies work for commissions from rights-holders whilst also taking fees from brands to offer strategic guidance. As such, there is a hugely problematic conflict of interest, which takes the emphasis away from objective and accountable strategic planning.
Companies are increasingly being put under the microscope with regards to their choices around sponsorship. An efficient, accurate and transparent solution is needed to enable correct decisions to be made, and this is where Luscid comes into play.