Many properties view sponsorship as a panacea to revenue growth. Simply create sponsorship opportunities and willing buyers will line up with their checkbooks. Right?
Sponsorship buyers seek sponsorships offering the most effective way to generate unique promotional opportunities. However, in a market with hundreds or thousands of competing sponsorships, what are important factors to keep in mind for properties (sponsorship sellers) when building a sponsorship strategy?
- Cut Through the Clutter. With competing sponsor messages, creativity is a must to cut through the clutter. Either in the sponsorship category or in the activation process, creative sponsorships win every time. Take for example, P&G’s “Thank You, Mom” campaign from the 2012 London Olympics. Was P&G an Olympic sponsor or the sponsor of all mother-athlete relationships? We couldn’t tell. Especially with all the tears in our eyes from this ultra-creative activation.
- Integrate Social Media. Sponsorships without a strong social media component are a thing of the past. If your social media channels are not up to par, the value of your sponsorships will suffer.
- Make it as Turnkey as Possible. Many buyers came out of the recent recession with smaller staffs. This puts a premium on offering sponsorships with more turnkey elements that the property can offer the buyer. Properties that can actually activate the sponsorship, as well as they sell it, have an advantage over their smaller and less organized competitors.
Creativity, social media and turnkey proposals are a few of the techniques that properties integrate into winning sponsorship strategies. Include them in your strategies and you’ll be playing smarter than the competition.