Keywords: Replacing Successful Sponsors Executive Summary As the sponsorship industry matures, many firms are facing the prospect of having to replace well-established, successful sponsors. This can be seen as problematic both by the property owner tying to persuade a new partner that a sponsorship agreement can offer a significant return on investment, and the firm looking for an opportunity to enter into a sponsorship agreement. is it, however; as significant a problem as it appears? The issue for management in this situation is that many of these events have become victims of their own success. In some cases, although a number of different sponsors have supported the event over several years, one sponsor has made a particularly outstanding impression, such as confectionery giant Mars with the London Marathon. in other situations just one sponsor has dominated over an extended period, as has been the case with Beefeater Gin and the Oxford and Cambridge Boat Race. This paper looks at the nature of each of these relationships to assess how, in each case; the situation has been addressed. The London Marathon case was unusual in that the most recognised sponsor, Mars, was not in fact the last one chronologically to support the event. The brand, however, has enjoyed many years associated with the Marathon for the simple reason that it delivered against the two most critical criteria; synergy between the event and the brand, and a successfully targeted exploitation. Several sponsors down the line, Flora took on the opportunity having also identified a perfect fit between exercise and healthy lifestyle. The brand then proceeded to integrate the event into all areas of the marketing mix to form a central theme for their annual brand planning and thereby create a programme focused on specific communication needs. Different objectives were set each year to keep the relationship fresh and allow it to evolve but, most importantly, on-going research has been implemented feeding back on a regular basis to judge performance against objectives. The findings of the research have enabled the team to assess where the programme is working most effectively and develop the programme accordingly. It has also allowed the brand to react quickly to opportunities such as the chance to work with the Diana Memorial Fund in 1998. Combining these factors has encouraged Flora to renew the contract twice and still continue to reap rewards from their investment. City of London fund managers Aberdeen Asset Management used similar techniques to address the issue of Beefeater's domination of the Boat Race. The event and its public profile and values presented the company with a huge opportunity to leverage the reputation of a relatively unknown brand. In a period of just weeks, Aberdeen created a campaign that allowed the firm to address the need to increase the awareness of the company and its inherent values to a very specific audience. Research was again key in setting benchmarks as well as the need for quick relationship building with media that had traditionally supported the event, such as the BBC and national press. A vital, but often ignored, audience of employees was also directly targeted ensuring that the event is supported both at home and abroad by what are, it is hoped, the sponsor's greatest advocates. In both cases, the synergy between event and sponsor together with clear objective setting, careful on going analysis of activity, and investment in exploitation have proven to be the fundamental elements to the success of the programme. Is It Possible to Replace A Successful Sponsor? The sponsorship industry is still in its relative infancy, particularly when compared with PR, advertising and other elements of the marketing mix. As it matures, however, many sponsors, encouraged initially to develop long-term alliances, are at the stage of terminating their contracts, often after long and successful relationships. …