Months before Larry H. Miller Sports & Entertainment (LHMSE) announced a 10-year naming rights agreement with Vivint, a smart home technology provider, Repucom was working behind the scenes to help find the most beneficial partnership for the home of the Utah Jazz.
“We reached out to Repucom because we wanted an accurate, independent third-party assessment of what the arena naming rights are worth on the fair market. We also wanted to explore which companies share our values and have the same commitment to our community. Repucom not only helped with the valuation of all our assets, but also with our go-to-market sales strategy so that we could broker the sale in-house,”said LHMSE chief revenue officer Don Stirling.
Repucom conducted an in-depth naming rights valuation that included classifying available sponsorship assets, including digital and social media, and appropriately bundling and pricing them for potential partners. Repucom supported the naming rights sales process with a custom brand equity/sponsorship receptiveness study and ongoing consulting services.
“Our research showed that Utah residents have an overwhelmingly positive attitude towards the Miller family and the Utah Jazz. ‘Hard working,’ ‘on-the-rise’ and ‘community-oriented’ are just some of the attributes associated with the organization,”said Michael Lynch, head of consulting for Repucom America.
“It became clear the community wanted a socially responsible naming rights partner that would actively engage with the tech-savvy and family-oriented Utah Jazz fan base,”said Lynch.
Vivint was a perfect fit for these criteria. The Utah-based company offers innovative smart home products and services that allow homeowners to automate, control and monitor their homes from any smart device. Vivint has more than one million customers and 8,000 employees throughout the United States and Canada. Forbes recently named the company to its list of “America’s Best Employers.”
While announcing the Vivint Smart Home Arena naming rights partnership, Vivint CEO Todd Pedersen stated:
“This agreement extends far beyond a typical ‘logo-on-the-building’ arrangement – it’s a true partnership built around innovation, community impact and the drive to elevate the prominence of Utah.”
Vivint Smart Home Arena, a 19,911-seat facility formerly known as EnergySolutions Arena, is owned by the Larry H. Miller Group of Companies. It hosts 1.8 million guests and more than 100 sports and entertainment events each year. The Utah Jazz basketball court is named for Larry H. Miller, who spearheaded the construction of the building 25 years ago.
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