The answer to this question: 'Is cash or contra more valuable for sponsorship seekers?' depends entirely on where your needs lie and your organisation's long term objectives. There are also other considerations that you need to factor such as which sponsors are more likely to pay in cash or in-kind services or a combination of both.
The spending habits of sponsors can also help you shape your sponsor seeking process. Generally speaking, sponsors can be classified as more likely to provide cash or in-kind support based on the industry within which they provide their goods and services. So where do the preferences fall? And which sponsor categories are the most active?
While every sponsorship is unique and the relationship that drives it is also one-of-a-kind, it can be said that the most likely and active sponsors for cash are banks and financial services, followed by healthcare and telecommunications and the car industry.
For a sponsor, it's all about working with your core currency. Financial institutions have the cash to provide to event-holders because that's the currency with which they trade. It's also the easiest way of providing support, and for many event-holders - it's amongst the most valuable.
The sponsors most likely to provide support via in-kind services are the ones that have goods and services that are a natural fit for event-holders. Media tops the list for in-kind because every event, organisation, club and charity needs to generate brand awareness. Attracting the interests of a media partner ensures you are well positioned to garner further interest in your property and its vital to your ongoing success.
Of course it goes without saying airlines, hotels, venues and restaurants are also well positioned to support your event through the provision of travel, accommodation, entertaining and facilities.
Ultimately, whether cash or in-kind is more valuable will change from year to year depending on your needs and your long term objectives. While cash is always king, never overlook the value of forging strong and enduring relationship with other sponsor partners whose in-kind services could save you a lot of dollars in the long run.
Does this help in organising your sponsorship seeking priorities? For more, register on www.eventsponsors.com.au for all the latest in sponsorship news and tools or visit us on Facebook and join our community.
