An obvious blog to write I realise, but this is one of the most asked questions in sponsorship. Whether you have already been working with sponsors or are new to the process, a sponsor's wants and needs are continually changing.
Never more than now do marketers need to find new ways to increase their cut-through and engagement. In an increasingly consumer-driven market, it is critical to work with sponsors in the best interests of your target market. It's no longer just about meeting the needs of the sponsor, while important, it's just as critical to appeal to the wants and needs of your audience.
So how do you find the right partners that also understand the value and importance of creating great event experiences – ones that will ultimately lead you to greater sponsorship success?
It starts with a sponsorship proposal. While each sponsor relationship should be approached case-by-case, there are elementary steps you need to take across all your sponsorships to enhance the process.
- 1.Write a list of your assets
Consider all the aspects of your event/club/organisation that could be attractive to a potential sponsor. It will take creativity and a bit of imagination. Think beyond the usual signage and logo benefits and instead consider what will improve the event experience.
- 2.Find out the Return on Objectives
- Find out what the sponsors business objectives are and consider how your property can help reach them. It's not just about adding up the equivalent media value of your advertising channels to provide your sponsors with a dollar value. Rather, find out what their objectives are behind the sponsorship because they could be aligning with your event for reasons you haven't considered. Creating new partnerships and leveraging opportunities beyond the actual event are just as important for some partners. Likewise, content creation and story-telling are also reasons for sponsors to come onboard. The best way to know a sponsor's objectives is simply to ask!
- 3.Get creative
- While it's not your job to leverage on behalf of your potential sponsors, you can certainly give them ideas around how they can develop a leverage program. The more creative you can get the better – as long is its still within keeping of the brand's positioning. The sponsor may not go for any of your ideas but it might trigger another
- Idea that is just as good.
- This is where customisation comes in. You are demonstrating you have thought meaningfully about the proposition and are doing everything to meet their needs. This has two flow-on effects. Firstly, you can charge more because if they like your ideas, they'll be willing to pay to see them executed. Secondly, the sponsor is more likely to say yes because you've made it really easy for them – especially if they love your ideas!
- Sponsors will be keen to continue the relationship with you, even if they don't come onboard right now because they know you 'get it.' Next time, they might just be in a better position to say yes.
- Love what you've read? For more sponsorship support and advice, register at www.eventsponsors.com.au
