Who doesn’t love sponsorship?
Sponsors boost consumer loyalty and earn unique exposure. Properties and athletes earn revenue and activate their brands on the sponsor’s dime. This is why our agency is contacted by properties and athletes that are seeking sponsorship and endorsement revenue. So, what is the most common mistake in sponsorship sales?
However, about two-thirds of our inquirers have made the same mistake in sponsorship sales. They neglect to define and position their brand.
We advise clients “first you brand, then you position, then you sell.” Sales is the third step in this process.
First, you define a brand message. Who are you and what do you stand for? What makes you unique? What value do you offer consumers?
Second, you position your brand. You activate a comprehensive plan involving tactics like digital (social media, web, etc.), media relations, and event marketing. This is a process of finding unique ways to connect with fans. It should be creative and measurable.
Third, you sell. This is the third step, not the first. However, many sports properties and teams skip the first two steps, thinking sponsors will just shower them with money with no real demonstrable marketing benefit. Sponsors don’t think this way, and neither should sellers.
If you haven’t defined your brand and proven it is worthy of devotion, there is nothing for sponsors to sponsor. That’s why we advise clients to complete the following checklist:
- Define your brand. Be able to state it for sponsor prospects in a few words (or a sentence at most).
- Position your brand. Activate your plan and measure the results. Be able to demonstrate how fans interact with your brand. Examples include social media metrics like number of followers, engagement, reach and conversation.
- Be ready to demonstrate how sponsors can benefit from an association with your brand.
WE WANT TO HEAR FROM YOU!
Click the link below and tell us what sponsorship topics you would like to see our experts write about.
Follow this sequence and you can avoid the most common mistake in sponsorship sales. To learn more about how we help clients brand, position and sell, contact us now.