How to recognise a golden sponsorship opportunity
As a business owner, there will be many opportunities that can be used to gain more exposure for your brand. To name a few:
- Advertising
- Competitions
- Celebrity endorsement
- Sponsorship
What we’re going to have a little look at today is the benefits of securing a successful sponsorship deal for your brand. When you’ve only got a limited marketing budget, you need to be careful on how you spend your dollars and which avenue is going to offer your best Return on Investment.
Many companies, big and small, are attracted to the concept of sponsorship due to the potential gain of exposure from being affiliated with that particular strain. There are many possibilities for sponsorship for you business if you know where to look:
- Sporting teams
- Schools
- Events
- Community based organisations
- Charities
Before offering your dollars, it is important to do your research and a) understand the potential for your brand to be noticed and b) if your brand is going to be noticed by the right people. There are several things you should ask the organisation you are going to sponsor such as:
What is the demographic your brand is going to reach by being a sponsor?
How many people can you be expected to ‘reach’ through this sponsorship?
Does the organisation offer additional exposure through your sponsorship agreement such as a link on their website and mention on their social media?
Are their any perks they can offer your business through sponsorship? (ie corporate box, access to their client database, etc).
Is the organisation, team or event relevant to your brand?
Do you have a personal interest in the team, organisation?
Don’t be afraid to pitch two opportunities against each other when approaching (of if you have been approached) by organisations looking for sponsorship. Most will work hard to secure your brand (and money) and should be willing to work with you in getting the most exposure for your sponsorship dollar.
Whatever your decision, ensure that you have control over how your logo and business will be used in future promotions of the sponsorship.
