Sponsor Talk: Why it works for EFG

The 2013-14 EFG Pan American Viper 640 Sport Boat Championship comprises a series of qualifying international regattas, with a final championship regatta in March in Miami. EFG International, a global private banking group, has committed to sponsor this circuit for the next two years. We caught up with Keith Gapp who is Head of Strategic Marketing and Communication for EFG International, at his office in Zurich and asked him for his views about sponsorship and sailing.

How did EFG decide to become involved with the Pan American Championship?

KG: The Viper Class pitched the idea of supporting a series, we liked the idea and together we crafted the Pan American Championship in 2009. We were impressed with the passion of the Viper Class people. We liked the modern boat and the ambitious plans for growing the class. There was an opportunity to be the founding title sponsor and do something new with like-minded people.

How and when did EFG become involved with the sponsorship of sailing?

KG: We were drawn to sailing for many reasons – the fact that it is very international, the many levels at which it operates, and the passions it engenders. Indeed, sailing has an almost universal quality, from sporting to pastime, and it is an active interest shared by a good number of our clients and employees. Our first foray into sailing sponsorship was the EFG Bank Sailing Team, based in Switzerland, now led by Chris Rast who campaigns on the European sport boat circuit. This was followed by sponsoring a team in Asia and the Vipers followed soon after that.

What other sailing events does EFG sponsor?

KG: In Europe we sponsor Chris Rast’s EFG Bank Sailing Team, the Panerai British Classic Week and a Sailing Academy for youth at Monaco Yacht Club. In the Gulf we sponsor the EFG Sail Arabia-The Tour. In the Americas, in addition to the Vipers we sponsor Antigua Classic Week, the Star Winter series in Miami, and we are presenting sponsor at both Bacardi Newport Week and Bacardi Miami Sailing Week.

What other sports does EFG sponsor?

KG: Historic motor racing, polo, dressage, tennis, rowing, golf.

How good a job does sailing do in providing a return for sponsors compared to other sports?

KG: We are very pleased with our participation in sailing. We have been involved at a level of the sport which our clients and our bankers can relate to. For many of our clients this is not a spectator sport, this is a sport that they participate in and we have built a reputation as the private bank for sailing. We have shown that we care about the sport of sailing and that this is not just an advertising campaign. We have been lucky in our choice of partners. But I also like to think you make your own luck!

Can you give any advice to sailing event organizers as to what they should be doing to make themselves more appealing to corporate sponsors?

KG: Most important of all, be open and honest so as to align agendas and avoid a mismatch in expectations.

What is the number one thing that a sponsor expects from an event, and are there any cardinal sins that event organizers should avoid committing?

KG: To me, it’s never about one thing, but all aspects coming together. But, for sure, communicate and beware complacency!

Does EFG have a philosophy that defines its approach to sponsorship?

KG: We like to be diverse, both in terms of the range of activities (to reflect the diverse interests of our people and clients) and what we do in a particular area – so our sailing activities are very international and varied. We do not confuse sponsorship with advertising. We can buy the advertising that we need. Sponsorship means supporting something, helping to make it happen. If you come to me and say for x dollars we will put your brand logo here – that’s not really interesting. If you come to me and say, for x dollars we can do this and we will make sure your contribution is recognized here, and that we will really work together to make things happen – then that is much more interesting. When the Viper class came to us with the Pan American Championships they had a 20 page presentation describing how our sponsorship would make a difference. The common thread to our sponsorship is that we want to be really engaged, putting something back, and I hope being credible in the process.

How much has the changing media landscape and the growth of the internet affected the sponsorship of sport?

KG: At the end of the day, it comes down to relating and interacting with fellow-enthusiasts, and the internet mostly matters as a means of facilitating this. The sailing community is one that has certainly embraced the internet and it has been a big plus when it comes to staying plugged in and following the progress of friends wherever they happen to be in the sailing world. If the media in a particular sport is sponsor friendly, that obviously helps. This interview and your interest in what drives sponsorship reflect well on sailing as a sport that welcomes sponsors.

You use the word “partnership” a lot when you describe the relationship between EFG and the Viper 640 Class Association. Can you explain what you mean?

KG: For us, it is pivotal. Not lip-service but where actions speak. It is about going on a journey with partners; some give and take; doing things that are new, that might not otherwise have happended, and evolving based on shared experiences; about staying with something and giving it time – there is no substitute for persistence and really working together towards a shared objective, and having some fun along the way…