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Blogvent Day 11: Top 10 tips for Sponsorship Success + 1 for Free

Business | Sponsorship

Lists and tips are all the rage, so we decided to pull our thoughts together and give you our perspective on the keys steps to sponsorship success. In 2010 we will delve deeper into the detail of this list via blogs, events and other activities, but in the run up to Christmas we thought that it would be best to keep it to small bite-sized chunks. So here goes:

• Understand – your sponsorship objectives and the potential impact that sponsorship can have on the business. Why are you doing it, what are you aiming to achieve and given the power of good sponsorship, are you setting your sights high enough?
• Research – sponsorship options and opportunities. Don’t just jump at the first opportunity that seems a good idea. Take the time to identify and align options in terms of attributes, values, fit, impact and return
• Allocate – resources and finances correctly. Sponsorship is a multi-function business tool, so make sure you haven’t spent all the budget on initial rights and not left enough to exercise all those other elements
• Measure – decide on measures for success and establish starting point. How will you demonstrate the success of the sponsorship to all stakeholders? If you can’t measure it how do you expect to manage and improve it?
• Align – with business and brand to drive relationships and revenues with sponsorship. Successful sponsorship is a foundation marketing programme not an addendum – make sure all these elements are aligned for maximum impact.
• Integrate – company product/service/culture into sponsorship environment. Good sponsorship is about so much more than a logo on a shirt, car or boat. Make sure that the sponsorship is a showcase or reference point for your business
• Activate – fully across all appropriate areas of marketing mix ensuring no stone unturned. Your sponsorship should provide or give access to many benefits, so make sure you use them across all relevant elements of the marketing mix – above the line, below the line, channels, promotions, incentives, product and so on…
• Engage – all relevant audiences – internal and external. Again, the versatility of sponsorship means it’s a power tool to engage with a very wide range of audiences to achieve different and valuable business objectives
• Cross pollinate – seek out b2b opportunities with the sponsor community. More than just the power of association, the sponsorship provides common ground as a foundation for a deeper business relationship with a new list of target accounts
• Review – and improve and evolve. For two key reasons: you need to learn from successes and failures and you need to keep the sponsorship fresh for all audiences by renewing it, so use the benefit of experience and hindsight
• Contact – us. Well we would say that wouldn’t we! But seriously this is what we do and we’re quite good at it so let us help you to make your sponsorship a success in 2010

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