Telecommunication Leader: Exiting Sports Sponsorships Took Only One Call
Having already completed transactions with ICON, a leader in telecommunication services discovered that corporate-barter solutions were not limited to excess inventoryWhile this can refer to a client's physical inventory of merchandise (which, if it represents an undervalued asset, could form the basis of a corporate barter transaction), in the corporate barter world, inventory more commonly refers to a supply of advertising time/space purchased in advance by the barter company, which client companies use as fulfillment to complete their side of a corporate barter agreement..
The company, which maintains a marketing presence in nearly every market and medium in North America, also faced several sponsorships that no longer fit its strategy. Exiting such arrangements can be tricky and expensive. That’s when the company turned to ICON.
How ICON Uncovered Value
ICON provided the company with a win-win exit plan. It paid the cost of several existing sports-sponsorship obligations, issuing trade creditAn alternative currency used in the corporate barter industry; one of ICON's financial options. (Note that this term is properly used only in the singular, i.e., never trade credits.) that the company could use for a variety of purchasing options. The company used its credit to place a specified amount of local television, radio and out-of-home media through ICON – all at its agency’s direction.
Naturally, the company benefited from the arrangement, which allowed it to exit these sponsorships smoothly and profitably. Perhaps even more telling, both sponsorship properties the company exited were also pleased with the outcome.
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