By Paul Birdwell (firstname.lastname@example.org)
There is so much that goes into putting together a sponsorship deal for both an event/venue and the sponsoring company that we here at the Roaring Fork Agency often finding ourselves doing a lot of education along the way on the numerous things that need to be worked-through and completed before a successful sponsorship deal is finalized. Luckily our friends at Elevent Sponsorship in Montreal, Canada have done a great job of putting all of those important sponsorship issues and considerations into one place on in their company blog and it is a must read for anyone involved in the world of sponsorships.
Below you find that sponsorship blog post by Elevent Sponsorship which is such a great read we find ourselves coming back to it again and again and often find ourselves forwarding some or part of it to our event/venue or company partners. If you click through to the actual blog post on the Elevent Sponsorship webpage you can read a lot more on each of the below Sponsorship Categories. Enjoy.
"A sponsorship is a sophisticated and complex marketing tool; it entails an entire strategic process of solicitation, negotiation, and customer service. What’s more: professionals who are responsible for sponsorships must fully grasp both traditional and non-traditional marketing communication channels as well as the inner workings of several different markets. Sponsorships can be leveraged to achieve many objectives and reach different target audiences. It is therefore important to understand the basics before launching a full-fledged sponsorship campaign.
This practical guide will help you efficiently develop and manage a results-driven sponsorship proposal. It includes our decades of experience, industry best practices, and the latest research on sponsorship effectiveness. Have a great read! The Elevent Team.
1. Sponsorship Property and Asset Inventory
A sponsorship is partly based on what a property can offer a sponsor in terms of rights and benefits. The first step to developing an attractive sponsorship proposal is to draw up an inventory list of all the benefits and assets.
2. Sponsorship Structure
A sponsorship structure can be relatively straightforward with different levels: a title sponsor, presenting sponsor, a series of major sponsors, standard sponsors, suppliers, and media partners.
3. Communication Plan
It is essential to establish partnerships with different media outlets to help you build your event’s notoriety and get maximum visibility. You can create a synergy between media partners and sponsors that will generate great results and decrease the costs of the projected media buys in your communication plan.
4. Fee structure and Sponsorship Valuation
Learn the basics for evaluating your sponsorship assets.
5. Soliciting Sponsors
Soliciting sponsors is one of the biggest challenges when trying to raise funds. It takes more than good sales techniques; you must begin by putting together a good strategy and better understanding the inner workings of sponsorships.
Never improvise when it comes to negotiating with a potential sponsor. Before entering into negotiations, consider the following:
7. Sponsorship Agreements
Success comes from long-term partnerships. Although signing a long-term agreement over several years may appear risky for both parties, it also offers undeniable advantages.
8. Sponsorship activation
A sponsor’s logo is nothing without activation. Communication strategies that focus on the association between the sponsor and sponsored property is called the activation of the sponsorship. Sponsorship activation is crucial in optimizing the efficiency of a sponsorship and ensuring a level of visibility for your organization.
9. Sponsorship Management
As a sponsored organization, you must take decisions on a daily basis. A sponsorship program entails as much management as putting together the event and selling tickets.
10. Corporate Social Responsibility (CSR) and Cause Related Marketing (CRM)
Establishing a partnership with a charity or cause may help to increase the sponsorship’s benefits as it represents a much sought-after opportunity for companies and brands. Several different approaches can be taken:
11. Ideas and resources
This practical guide ends with a bonus where you can find sponsorship category examples, generic activation ideas and example of sponsorship inventory."
Elevent Sponsorship - www.elevent.ca
If you have any questions about event sponsorship or venue naming rights contact the Roaring Fork Agency at:
San Francisco, California – 415 730 – 4854
Seattle, Washington – 206 940 – 3934
Bend, Oregon – 541 640 – 2221
Twitter - @RoaringForkAgcy