What's in a name?

_ What about naming rights? 

Have a need and want to use a name to fulfill that need?  Name rights are somewhat a slippery slope.  The first priority should be to determine what the needs are and what amount of money will be necessary to meet the needs of the project.  As you evaluate these needs, several questions are going to arise. 
  
    Should we build a new facility? 
    Should we renovate the current facility? 
    Should we add a new facility? 
    How do we decide about the sale of the name rights for the current     field, or new field?


Like every successful program, start with a plan.  Then determine how and where the money will come from.  If you were a college or university, you would begin with alumni; however, alumni may be students at colleges and away from the financial ability to assist their “old high school.”  The better choice then is to establish and build relationships with local businesses and corporations in your area.

When approaching potential corporate partners about naming rights, it is critical to recognize the importance of creating mutually beneficial relationships. The funding process should not be a “good old boy” network of giving.  Sponsors should be looked at as partners; partners who have needs to be fulfilled by your organization.

If possible, try to find local companies who already have a history of charitable giving and programs.  Find those who have a strong corporate presence in the local community.  Then, show them how a shared marketing and promotional program can benefit their company.  If you can find corporate executives with children at your school, even better.  If you can find someone inside the company who cares about the school, the initial groundwork is dramatically reduced.

So, how much is a naming right worth?  In some cases, just what a sponsor will pay.  But, it also depends on a number of other variables.  What is the size of the local market?  How many events will be held in the facility?  What is the potential reach to consumers and potential customers for the company?  How much exposure can you generate for the company?  Other considerations might include cross marketing value to the company.  Would it be valuable for the company to be able to use the school’s name in marketing, or the school’s logo or seal?  In the final analysis, the real value is what both parties agree the program is worth in terms of cash money.

Especially at the high school level, one potential problem of selling your naming rights is a negative response from the community. Some administrators have suggested that the process over-commercializes scholastic sports.  In order to help alleviate some of these concerns, maybe local meetings with key community leaders will help allay some of these concerns.  Many problems occur because local citizens feel they have been left out of the loop in areas like this.  It is important to help the community understand what is being accomplished, how it benefits the school and the community and how it is saving the tax payers money.

Do your homework.  Find experienced consultants that can help you.  Consult lawyers and local officials to insure that every legal issue, zoning regulation, building permit and all the other elements are covered up front.  Make sure to attend every community meeting where this may be an issue; make sure someone is watching the newspaper and listening to local radio to keep up with any concerns; and, respond positively when anything is brought to your attention.

Finally, as you evaluate a possible "renaming," it is important to remember what the impact will be if there is a person for whom the stadium or arena is currently named.  Regardless of how valuable you feel the name rights are, it is critical that you be sensitive to those attached to the previous name.

What's in a name.  Maybe more than you realize!!