This article was first published in the Mercury Bay Informer of 30 August 2017. See www.theinformer.co.nz
Have you ever been asked to sponsor an event, community organisation, or prize? If you’re in business, chances are you have. While generosity is generally good for your brand, does your sponsorship spend really work for you?
A sponsorship contract should be a win-win solution for both parties. The sponsored organisation needs resources and the sponsor wants to connect with potential customers. While building brand awareness, it is unlikely that simply having your logo on display will generate a good return on investment. Customers want to know how you can help them and why they should choose you – a logo doesn’t tell them that.
Here are five tips to better sponsorship arrangements:
- Find out who the organisation touches, including staff, families and supporters. Are any of these a natural fit for your goods and services?
- Find out how they communicate with these people. Can you use any of these channels to educate others about your product offering?
- Suggest a sponsorship package that enables you to tell potential customers how you can help them. Many organisations have not considered all the sponsorship benefits they can offer
- Get involved in the organisation, perhaps as a guest speaker, a board member, a referee, or even serve the drinks
- Short on cash? Can you save the organisation money by letting them use your resources, for example a meeting room or equipment, when they are free?
People do business with people. Use your sponsorship spend wisely to build trust in the marketplace.