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.
Monetize Your Online Event
Why Brands Invest in Sponsorship
They believe sponsoring is the best use of their marketing and advertising dollars.
Key Strategies of Sponsorship
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.
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