Richmond Football Club, the reigning Australian Football League premiers, has appointed Turnstile to value its sponsorship portfolio. Richmond joins other major rights holders and brands in adopting Turnstile, which is focused on providing a holistic and rigorous approach to sponsorship valuations.
Simon Derrick, General Manager Commercial Operations, explained that enhanced sponsorship valuation metrics were an important part of unlocking the next phase of growth for the powerhouse AFL club;
“We are looking for data and tools that can fully capture the value we create for our existing and prospective partners. The recent on-field performances of our AFL Men’s team have grown the size of our membership and fan bases and further strengthened our brand. Additionally, we are excited by the commercial opportunities that have presented by the launch of our AFLW Women’s team in 2020. There is a significant amount of excitement and interest from our consumer and corporate markets for Women’s sport and we need to ensure that we have the best information and insights available to quantify and articulate this new and emerging value proposition.
Turnstile’s approach will help us immensely because its methodology captures the value of our brand in addition to the traditional sponsorship components of exposure and benefits”.
Rob Mills, CEO and Director of Turnstile, said
“The appointment by the Richmond Football Club is another powerful example of how leaders in the industry are looking for increasingly sophisticated approaches to sponsorship measurement. In recent years Richmond has been a major innovator in the AFL industry and our team is excited to be working with them”.
Richmond will also have access to Turnstile’s Dealmaker software. This software, an extension of Turnstile Valuation Services, will enable the Richmond commercial team to model renewals and new deals using thousands of data points captured by Turnstile. The Dealmaker software also provides data about the audience profile of major clubs, leagues and events. This software which is experiencing rapid adoption, is currently being rolled out to Turnstile clients including two English Premier League teams, Formula 1, DDMC Fortis (Agents for the Asian Football Confederation) and the Vodafone Warriors
Turnstile has been designed by Gemba, a leading authority in the sport and entertainment industry, after more than three years in development. Gemba carried out extensive testing with leading international brands and rights holders.
Turnstile provides the first holistic measurement approach of sponsorship by quantifying value across three core components:
- Benefits: The market rate for tickets, hospitality, media assets and other inventory using market benchmarks.
- Exposure: Using a proprietary methodology to assess logo exposure effectiveness, Turnstile captures brand exposures and outputs values that reflect the actual market rates of the sponsorship industry.
- Intellectual Property: A proprietary algorithm that calculates value using the fan bases of sponsorship properties, with consideration of engagement levels and the purchasing power of fans.