Since I have been working on fundraising events for Susan G. Komen and American Family Housing, I thought it would be a good time to talk about sponsorships. What should you do to be successful in achieving sponsorships?
- Clearly define your objectives: Determine which of your current goals or strategies the sponsorship can help achieve, versus creating new ones.
- Identify your equity opportunity: Find the space you can “own” and what you can achieve with it.
- Assess your partner’s equity fit: There is nothing worse than partnering with a company that does not alight with your organization or reach your target audience.
- Value what you bring to the table: Every successful sponsorship also helps the promotional partner.
- Look for ways to activate the sponsorship across all relevant channels: By understanding all of the ways your target moves toward transaction, you can utilize the sponsorship to create value and drive key behaviors.
- Capture data and measure results: Clear objectives should drive opportunities for measurement and optimization, which will be the key to quantify and improving sponsorship ROI moving forward.
- Money sponsorships are not everything: If a monetary sponsorship is not in the reach of your target company don’t down play the power of an in-kind sponsorship that can be mutually beneficial for both parties involved.
- Follow through: Make sure to always provide what you promised to provide with the sponsorship. If you offer their company name on the entrance banner, make sure to provide it.
Any other thoughts or suggestions to achieving successful sponsorships?
Some of the above information came from HBR Blog Network.