When people hear the word “sponsorship” the first thing that
comes to mind is an association with the word “donation.” After all, the person doing ‘the ask’ is
usually from a non-profit, charitable organization that needs your money to
fund whatever unique or necessary service to the community they represent.
But by definition:
Sponsorship
is a cash and/or in kind fee paid to a property in return for access to the
exploitable commercial potential associated with that property, while Donations are gifts or grants
given for charitable purposes usually with no return consideration.
Therefore, sponsorships should be considered a marketing
opportunity – a chance to position your brand and engage your customers in
unexpected and unique ways.
As with many other marketing opportunities though, remember
that as a partner in the relationship, it’s important to know what you are
getting for your marketing dollars.
Respectable and professional organizations should always be able to
provide you with a valuation at the conclusion of the partnership, outlining
what kind of benefits were delivered and what the total value of the
partnership is worth to your company.
Remember too that as with most other opportunities, your
business will reap what you put into the partnership. If you’re positioned with multiple other
sponsors, what can you do to make your name and product stick out?
Ask yourself these questions:
- Is there an opportunity for me to interact directly with potential customers through product giveaways or displays?
- Does this partnership attract the same target markets that I’m trying to get my name out to?
- Is there any opportunity for our employees to be engaged with the sponsorship?
- Is there a way to tie in any customer/client appreciation with the sponsorship to recognize those that already support my business?
Examples of this at Showplace Performance Centre could be tickets to shows or
renting a space within the sponsored property to host a pre-show VIP
event…imagination is key and organizations are usually open to new and
interesting ideas.
In many cases, benefits are flexible and the organizations
asking for the support should be able to accommodate requests from your
business within reason. After all, in
the partnership, both sides have needs that must be met in order to make it a
success.
So in conclusion, remember to ask questions, look at how the
potential partnership aligns with your brand and keep an open mind, you may
just find the marketing opportunity you’ve been searching for.
Emily Martin
Showplace Performance Centre
Administration/House Manager
