What is Sponsorship?
IEG, a well-known publisher in the $57.5 billion sponsorship industry, defines sponsorship as: “a cash and /or in-kind fee paid to a property in return for access for the exploitable commercial potential associated with that property.”
Meaning that it isn’t like philanthropy where you are supporting a cause without any commercial incentive. In fact, it is the exact opposite – “sponsorship is undertaken for the purpose of achieving commercial objectives.”
I would further define sponsorship as a channel of marketing and advertising focused on customer engagement, education and lead generation primarily utilized in live or recorded content, that benefits from the properties ties to a target audience.
Why Brands Invest in Sponsorship
They believe sponsoring is the best use of their marketing and advertising dollars.
Key Sponsorship Strategies
The Halo Effect
When you sponsor a property, you are borrowing their fans, premises, and associating yourself with their values. If you sponsor the state fair, your brand is associated with a family event. If you sponsor a sports team, you get recognition and the ups and downs of winning and losing. If you sponsor a cause, you are telling the market what you care about.
Foster Credibility
Sponsors get to build trust and establish rapport with a property’s fans. The key to success is to align with opportunities and brands that align with the values of your organization.
Build Brand Awareness
A good sponsorship will provide strategic opportunities to showcase a sponsor’s brand before, during, and in some cases, after the event.
Engage with Your Audience
Sponsorship gives brands the ability to have a two-way conversation by increasing a brand’s relevance while networking with customers and prospects.
Making Virtual Events Profitable
A lot of what works for in-person events doesn’t work for virtual events. Many of the clients we have helped have been so focused on mastering new technology that sponsorship doesn’t become a priority until the very last minute.
We have made the jump and know how to create sponsorship revenue for virtual events.
Sponsorship Sales and Marketing
- Full Turn Key Sales Campaigns
- Valuation and Research
- Pricing Strategies
- Prospect Identification
- Research and Analysis
- Proposal Creation
Sponsorship Management Services
- Negotiation of Agreements
- Vendor Resources
- Contract Management
- Implementation Management
- Fulfillment Reports
Strategic Sponsorship Services
- Digital Strategies
- Business Plans and Tactics
- Sales Training
- Budgets and Forecasting
- Investor Resources
- Sponsorship Marketing
- Telephone Consultations
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