OPPORTUNITY
With over 50 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.
PARTNERSHIP STRATEGY
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.
RESULTS
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 a 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.