The key metrics to measure your sponsorship objectives

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Very often sponsorship managers are not clear on their objectives or on what to measure. What's more there's confusion around what your objectives are and what your mechanics do. Here is a useful guide that will hopefully set the record straight and prove to be great reference material for you going forward. These are examples only of what you could be measuring and the mechanic to help you achieve your objective. There can be plenty of other mechanics that could also get you to the same end goal.

The key sponsorship metrics for measuring your objectives:

OBJECTIVE

METRIC

MECHANICS

Brand Awareness

Measure the use of the hashtag before and after the campaign period

Add a hashtag to your campaign and use across social media channels and promote on and offline

Brand Exposure

Measure the dollar value of media the brand has received

Logo placement and/or mention across the full spectrum of communication channels including web, social, email, television, radio, print, magazine, newsletters and more

Brand Engagement

Measure the number of likes, shares and comments

Provide branded content to your target market before, during or following the event

Brand Affinity

Measure the relevance of your brand by the number of likes, shares and comments

Champion a cause that is related to the sponsorship and is relevant to your category e.g. Chipotle is a fast food giant yet they promote sustainable farming through their instore and sponsorship activities

Target market perception

Measure what the audience thinks and feels about your brand

SurveyMonkey the audience before and following the campaign period

Target market attitudes

Number of people sampling your product/service and their comments/feedback

Product/service demonstrations and sampling

Target market behaviour

Measure the willingness to buy or engage your services

Make product/services available for sale or for subscription

Sales growth

Measure the increase in total sales; changes in number of products per customer; conversion rates

Apply a special code or coupon to redeem during the campaign period

Publicity

Number of stories featured across media channels; size and placement of story

Generate a media releases and photo opportunity promoting your sponsorship and the event/cause you're supporting

Public Relations

Attendance at sponsor events

Plan a schedule of events that include a launch party and event hospitality.

Database acquisition

Database numbers

Create a promotion where participants must provide their name and email address

These are of course a few of the many objectives, metrics and mechanics you can apply to your sponsorship program. There are countless others. I would suggest starting simply then you can add layers as you feel more confident.

The key is to know from the outset what you want to achieve and if the event or organisation you are considering sponsoring is the right one for you. It's better to enter an agreement knowing exactly what you want to get out of it and how you're going to go about achieving it.

Want further assistance managing your sponsorships? That's easy! Let us know. Visit us at www.eventsponors.com.au and register your enquiry or email me directly at caroline@eventsponsors.com.au

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