With over 36 million passengers passing through it annually, Toronto Pearson is a property with the largest captive audience in the country. Having leveraged all existing revenue opportunities, Toronto Pearson was in the lookout for new mediums to generate revenues.
LANG worked with Toronto Pearson over 18 months to conduct an overall valuation of the potential for partnerships at the airport and developed a comprehensive sponsorship strategy including:
- Understanding the needs of travellers at the airport
- Identifying the features that the airport has to offer
- Recognizing the benefits for corporations to partner with Pearson.
We continued the process by developing a plan that provided clear direction on the best way to package, price and sell the various programs and properties identified.
Upon completion of the above strategy, LANG managed the sales process from developing a partnership sales plan, identifying target corporations and customizing proposals to conducting partnership sales and providing overall negotiations and contract management support.
Due to Lang’s strategic approach in creating mutually beneficial partnership programs, Toronto Pearson was able to sign its first major five-year, multi-million dollar partnership with American Express. This was followed by the recent multi-million dollar partnership with CIBC. LANG and Toronto Pearson are currently in discussions with several other potential partners regarding opportunities for partnership at Pearson.
“It is a complex process to build a unique strategy and approach to the market for partnerships. Lang Marketing Network has been an invaluable asset to us throughout the process. They are a very well connected and respected in the marketplace and have helped develop our strategy, fill the sales pipeline and work through complex partnership agreements. With very specific terms and conditions around rights, exclusivity, ambush marketing and value in kind. I’ve been relieved to have the help.”
Mike Ross, Director of Commercial Development for the Greater Toronto Airports Authority