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A new year brings new opportunities

by David Rachell
8 01 2014

Sponsorship marketing is now one of the fastest growing forms of adverting according to the Association of National Advertisers. Sponsorship is becoming more mainstream on main street, as smaller businesses look to use sponsorship as a way to differentiate their products and services and stand out above the advertising noise.

It’s also important for rights holders to stand out above the noise. So, here are five ways to better your sponsorship acquisition efforts for 2014.

1. Be prepared to report on your deliverables
Sponsors are being required to justify their sponsorship spending now more than ever. It’s vital to justify outcomes and the deliverables provided to sponsors as part of the value created through the relationship. As a rights holder, you need to do all you can to help the brand justify their spending. If you aren’t able to justify your fees, it makes it easier for the sponsor to say no to you and yes to those who can.

2. Strengthen your social media
Sponsorships provide one of the best methods for organically building a brand’s social media. Rights holders who provide a rich social media platform to engage consumers have a greater chance to garner sponsors.

3. Build activation for your sponsorship that outlasts your event
Even local or regional companies are less apt to sponsor one-day events or activities. Sponsors want to be able to activate against their sponsorship portfolio with events that last longer than a day or two. While your event may only last a day, try and create ways for sponsors to be part of your organization or fan experience long before and after.

4. Deepen Fan Engagement
As a rights holder, you should be seeking partners that are going to provide a greater experience for your attendees, not just a check writer and sign maker. Greater fan engagement means you provide your consumers a better experience and an opportunity to grow your event while also creating a platform for a more successful sponsor.

5. Well Educated Sales Team
Brand managers have a richer selection of good sponsorship opportunities to choose from today. Your sponsorship program must not only provide great benefits and activation options, but industry knowledge by rights holder representation is critical. More times than not, brand managers know when someone understands the business and benefit values. So, instead of trying to snow them, wow them with your understanding of their needs.
Your sales team should research the industry and the companies they target. Make sure you subscribe to industry magazines and research articles, look for quality online content, go to seminars and training to learn about what sponsors are looking for from rights holders.

Categories:   General | industry happenings | Sponsorship resources
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