Survey the Event’s Sponsorship History
If the event you are considering sponsoring has been successful in the past, old sponsors would be lining up for another edition too! Try to ask brands how their experience was at that particular event in the past and, more importantly, was the sponsorship worth pursuing? Surveying an event’s sponsorship history, the brands involved, and how successful they were in the past can be an extremely useful parameter to aid your decision-making.
It would portray what works and what doesn’t. This results in a well-informed decision from the perspective of a prospective sponsor.
Try to Negotiate Reasonable Terms
Sponsorship negotiation is the final and most critical step in acquiring event sponsorship
. These negotiations should be inclined towards a bargain that helps your brand achieve its goals. If done right, organizers may choose to include some benefits that other sponsors at the same event may not get in the original package.
Remember, everything can be negotiated!
Given how fruitful event sponsorship can be for a brand’s marketing efforts, finding a suitable event to sponsor can genuinely make a mark when achieving ROI through event sponsorship. The above-mentioned points will help brands successfully identify the ideal events to invest in!
Frequently Asked Questions
What are the 3 types of sponsorships?
Three types of events sponsorships are:
Branding – Opportunities that enable the sponsors to portray their logos at the event.
Lead opportunities – Opportunities that give sponsors a way to gather leads
Networking – Through these opportunities, sponsors connect with the attendees one-to-one
What is a successful example of a sponsorship?
The sponsorship of the NFL's Super Bowl half-time show not only assisted PepsiCo in promoting its brand but also helped the NLF in extending the reach of its show by further extending the half-time break show.
What are some common goals of sponsorship?
Brands have their own goals and objectives when offering sponsorship like:
Enhancing brand awareness.
Gaining exposure in the media.
Expanding their reach.
Standing out from direct competitors.