Sponsorship marketing is typically done for promotional purposes, to generate publicity, or to obtain access to a wider audience than your budget can afford.\u00a0 Although you may think of corporate sponsorship\u2019s as in-kind donations, that\u2019s not longer the case.\u00a0 It\u2018s a booming $11 billion dollar industry according to IEG\u2019s 2004 industry report.<\/p>\n
Sponsorship marketing is done financially or through the provision of products or services to support an event, activity, person, or organization where two or more parties benefit from the arrangement.\u00a0 The key to building successful sponsorship programs is to match the correct products or services with the people who want to purchase them.<\/p>\n
What attracts a sponsor is \u201ceye balls\u201d.\u00a0 The more people or targeted impressions you can deliver to a sponsor, the more money or services you will be able to attract.\u00a0 It\u2019s that simple.<\/p>\n
Any organization can start a marketing sponsorship program.\u00a0 Of course the success of it depends on: what your organization does, who your customers are, and how you structure the exposure for the sponsor.<\/p>\n
Still not sure if it\u2019s worth devoting time or money to building a sponsorship program?\u00a0 Then, check out the top five industries, according to IEG, that companies with sponsorship dollars are looking to spend them with:<\/p>\n
Be as specific as possible about what your organization has to offer. While your organization\u2019s activities are the main product, other products or services can also be considered as offerings to sponsors including: sales materials, uniforms, preferential booking of facilities or discount rates.<\/p>\n
A sponsorship marketing strategy will only by successful if it is aimed at the appropriate group of people. You can quickly identify your target market by looking at your current customers and considering common factors that they share.<\/p>\n
– Demographics age, sex, marital status, occupation, ethnic groups, religion, education, etc<\/p>\n
– Psychographics behavioral groups such as skiers, skateboarders, families<\/p>\n
– Geographic location (local, regional, national)<\/p>\n
A clear, documented idea of what it is your organization is trying to achieve is needed.<\/p>\n
Do you want to have your brochure costs covered by a sponsor, increase your advertising buys, or maybe have the cost of your next special event covered?<\/p>\n
When your objectives are clear, the next step is to develop a marketing strategy to help achieve those objectives.<\/p>\n
If you want to have your next brochure costs covered you strategy may revolve around selling advertising in it.\u00a0 If, on the other hand, you want to cover the cost of your next special event, you need to use different strategies such as emphasizing how the sponsor will be represented at your organization, in promotional materials, and advertising. \u00a0Remember, the more people you can deliver to a sponsor, the more valuable they will find your program.\u00a0 Use whatever means it takes to do that: newsletters, signs, radio or TV spots, press releases, website, etc.<\/p>\n
Once you know what you want to do, it\u2019s time to actually do it!\u00a0 The key to a good action plan is to outline the activities to be achieved\u2014assign people to get the tasks done and make sure to set a realistic deadline.\u00a0 Don\u2019t forget to set up a reporting process so you know what\u2019s done and what might need extra attention.<\/p>\n
The Sponsor Packet is what you will use to communicate your sponsor program to prospects.\u00a0 In its most basic format, a Sponsor Packet would include:<\/p>\n
a)\u00a0\u00a0\u00a0\u00a0 Description of who you are and what you do<\/p>\n
b)\u00a0\u00a0\u00a0 Description of the target market you can deliver to sponsors<\/p>\n
c)\u00a0\u00a0\u00a0\u00a0 Summary of your marketing objectives<\/p>\n
d)\u00a0\u00a0\u00a0 Marketing strategies<\/p>\n
e)\u00a0\u00a0\u00a0\u00a0 e). Action plan<\/p>\n
You\u2019ll be asking a lot from your sponsors so make sure your presentation represents you well.\u00a0 Be accurate and concise with your content.\u00a0 If possible try to have it professionally printed and include photographs to enhance presentation. The use of special paper and covers can also enhance the presentation.<\/p>\n
After you\u2019ve completed your sponsor packet, it\u2019s time to put it to work.<\/p>\n
1. Company\u2019s<\/strong>.\u00a0 Determine the company\u2019s best suited as a sponsor to your organization.\u00a0 Create a contact list that includes as much information as possible.<\/p>\n 2. People.<\/strong> Find out who you should address the sponsorship proposal to (usually the Marketing Manager and include their proper title and position. Ensure you have the correct spelling.<\/p>\n 3. Contact<\/strong>.\u00a0 Speak briefly with them on the phone to let them know you will be sending a proposal.<\/p>\n 4. Timing<\/strong>.\u00a0 Present your sponsor packet proposal well in advance. Businesses budget for sponsorship annually. They can also take a while to approve sponsorship proposals, particularly if they have to be cleared by the General Manager or Board of Directors.<\/p>\n 5. Follow up.<\/strong> Allow a week after you have sent a proposal before making a follow up call. The<\/p>\n sponsor may not be able to answer at that stage. However, it provides an opportunity for them to ask any questions. Offer to come into their office to speak to them if they so desire. Ask them when you could expect to receive an answer.<\/p>\n 6. Reporting.<\/strong> Once a sponsorship has been negotiated and secured, ensure you keep in regular contact with your sponsor. A letter or phone call once a month letting them know about your organization and how the sponsorship is going is good practice. Send any material that may be of interest to them \u2013 newsletters, any promotional material or photographs involving promotion of the sponsor.<\/p>\n To see some sponsorship templates, visit myMarketingGuide.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Sponsorship marketing is typically done for promotional purposes, to generate publicity, or to obtain access to a wider audience than your budget can afford.\u00a0 Although you may think of corporate sponsorship\u2019s as in-kind donations, that\u2019s not longer the case.\u00a0 It\u2018s a booming $11 billion dollar industry according to IEG\u2019s 2004 industry report. Sponsorship marketing is … Continue reading What is Sponsorship Marketing?<\/span>