Many sponsorship sellers experience frustration over their inability to close sales. Sometimes, poor sales technique is to blame. It is often the case that properties are simply not “sponsorship ready.”
In business, it can take years to bring a product to market. In addition to product development, skillful business strategists understand the need to carefully plan the commercialization of a product. This includes how it is marketed and presented to consumers. They ensure that their product is as attractive as possible before it hits the market. Lack of market preparation can often lead to disastrous sales.
Unfortunately, when it comes to sponsorship, properties do not always follow this path. Frequently we see properties build a sponsorship deck and hit the market without ensuring that their property and its sponsorship offering are truly “sponsorship ready.” When we say sponsorship ready, we mean that the property itself and the way the property is presented to the prospect is as powerful as possible. When the offering is powerful, deals happen.
Over time, we’ve assembled a list of considerations sponsors find most important in how they pick property partners. This list includes the following:
- The Sales Prospecting Process: The property has organized its sponsorship offering and done its homework to pick the more appropriate sponsorship candidates.
- The Sponsorship Proposals: The proposal is customized with unique solutions to specific sponsors. It also includes key data, like descriptions of the shared target audience.
- Sponsorship Assets and Inventory: The property’s sponsorship assets highlight the unique and powerful benefit offered to its sponsors. These assets maximize value to the property but are also right priced for the sponsor.
- Sponsorship Service and Fulfillment: The property understands the value of great sponsorship service and has planned for it with strategy, staffing, and reporting.
- The Audience: The property understands every aspect of its audience and how it meshes with the sponsor’s customer base. It can present this data in a way that presents unquestioned value for the sponsor.
- Marketing: The property commands an impressive marketing capability that can carry the sponsor’s message wherever it needs to go. In other words, the property can truly be a marketing extension of the sponsor.
- Social Media: Social media is one of the most important platforms for sponsorship programs. The property understands this marketing channel and can deliver strong audience engagement.
- Corporate Social Responsibility: Since sponsors increasingly emphasize their commitment to society, they expect the same of their property partners. Properties understand this and can help sponsors fulfill their CSR goals.
ARE YOU READY TO SELL POWERFUL SPONSORSHIPS?
Test Your Sponsorship Readiness Today
Find out where you stand in just a few minutes, after taking our assessment.
This brief assessment will give you a sense of your readiness to attract and fulfill powerful sponsorships.
At the end of the assessment, we’ll provide you with a sponsorship readiness score, a detailed description of what that score means and some tips about how to improve your overall score and score per section.
Check out our previous Blog Posts to learn more on topics surrounding becoming sponsorship ready. Contact Us for specific content questions.