Sponsorship Strategy & Activation
Does your CEO. or someone in the C-Suite, like golf and now your company sponsors the PGA Tour? That is not a sound sponsorship strategy and most likely you’re wasting your company’s resources. And don’t laugh because this happens all the time in some of the largest companies in the world. If you’re a small or midsize company with limited resources exploring sponsorship as part of your marketing plan, don’t make this mistake.
I have over 20+ years of integrated marketing experience, including sponsorship strategy, analysis and activation, developing deals with: MLB, PGA, Chicago Marathon, Hi-Tec Adventure Race Series, Fogdog 24-Hour Adventure Race Series, ESPN Home Run Derby, Greater Seattle & Pacific Northwest Data Center Summit and the Bay Area Emergency Manager’s Conference. I can help you review or develop your sponsorship plans to ensure brand impact and effectiveness.
A few of my sponsorship lessons learned include:
Make sure the sponsorship audience is a GREAT, not good, fit for your brand. Are your current customers already fans of this property? Do you feel like your getting great value for your sponsorship (benefits outweigh costs)? Do you have great activation ideas that will resonate with the audience?
If you don’t have the money to activate the sponsorship, don’t sponsor it at all. The sponsorship rule of thumb is 3 to 1 -- for every $1 you spend on the sponsorship fee, spend $3 on activation. If you don’t have the resources to activate, spend your money on other marketing strategies.
Don’t accept that the sponsorship benefit packages the sponsoring organization provides are the only options. They want to sell their assets but these assets may not resonate with the audience to enhance or increase awareness for your brand. Don’t be afraid to ask for benefits not included in the sponsorship packages. Two questions I always ask are:
Is there a need the sponsorship organization has that my brand can fulfill to make the sponsorship event better?
Is there a need that the sponsorship participants (ie. runners in the Chicago Marathon) or audience has that my brand can fulfill?
If you can fulfill a need in either area, your sponsorship will be a home run.
So if you need marketing support developing your strategy and activation plans, need help finding the right agency or can’t afford to hire an agency, contact me today to see how I can help.
Note: Sponsorship Sales is not part of my Services