Sponsorship Background
SponsorPark
Sponsorship Search
Category 
Location 
Price Range 
 to 
Advanced Search

SPONSORPARK'S BLOG >

The Importance of Measuring Sponsorship Outcomes

by David Rachell
  
25 11 2013

The Association of National Advertiser’s recent survey results revealed once again that companies are increasing their use of sponsorship marketing. These results are in line with overall reporting that sponsorship is becoming a bigger factor in the marketing mix. Noted in this particular survey is the continuing difficulty of measuring sponsorship outcomes.

Companies are having difficulty in measuring outcomes because sponsored properties don’t know what to report and brands really don’t know what to measure. According to this survey, media exposure, social media impact and brand recall are most the prominent focus for measuring. Those elements only measure part of the story. Brands should be using their sponsorship portfolio cross-functionally across the entire business platform and their indicators should measure cross-functionally, too.

Nearly two-thirds of the companies claim they’re spending money to measure results, but less than half attempt to isolate the impact that sponsorship actually creates. So, what are they really measuring? Advertisers using sponsorship to measure ONLY exposure and social media impact are missing the potential that sponsorship brings to the table. Sponsorship can be a catalyst in moving the SALES meter, provide a valuable tool in human resource recruiting, employee reward programs, and employee retention, engaging targeted stakeholders in order to alter public opinion. Various key performance indicators can be singled out in order to isolate the impact of a sponsorship and shared with sponsored properties to ensure the message is succinct and relevant.

Property sellers play a critical role in providing information important for measuring, too. Besides measuring the amount of products/services used at an event (pouring rights for example), properties should offer information on all deliverables provided to a brand. Social media exposure, onsite exposure through consumer engagement, signage, hospitality, onsite SURVEY’s, and unique promotions are all quantifiable. But, for success, properties need to understand what sponsors are measuring and gear exposure toward that outcome. At the end of the day, only a company knows if it sold more widgets because of an event. And, if the sponsor doesn’t put something in place to measure selling more widgets – it’s a dead issue no matter what exposure you’re providing.

More media exposure from a left field sign will NOT sell more product. It’s what the sponsor does to activate the relationship with the property that will sell more product. It’s up to the property to maximize the exposure – companies need to learn how to use that exposure to their benefit. Sponsorship sellers need to realize that sponsors are focused on measuring outcomes now more than ever. It’s up to the property to craft ideas based on the sponsors KPI to help the sponsor measure bottom line results.

Conversely, companies need to be more proactive in using tools to help measure outcomes. Brands need to share what they’re wanting to measure Companies can employ smart software like the Pinpoint Sponsor Evaluation System that can equate value from exposure and provide a platform to store information about KPI’s from sponsorships to measure ROI/ROO.

Professor Ed Deming taught management at NYU, was an author, brilliant statistician and all-around genius when it came to establishing processes for business. He famously crafted the quote you cannot manage what you don’t measure. As sponsorship grows, it’ll be necessary for companies to measure outcomes to better manage them. And, until best-practice processes are agreed to industry-wide, it’s incumbent upon all of us to begin shaping ways to measure results.

 

Categories:   Marketing | ROI | Sponsorship resources | sponsorship sales | Sponsorship Valuation | tips
Actions:   | Permalink | Comments (0) | Comment RSSRSS comment feed

The Advantage of Profitable Partnerships

by David Rachell
  
5 06 2013

Over the past couple of weeks, SponsorPark has created some great new partnerships for our members allowing greater access and affordability to these tools. Many of you have asked why we're doing this - as it seems counterproductive to be offering competitive products to our very own members. In reality, products like SponsorPitch, B6Analytics and HelpGetSponsors.com are complementary products to what our services provide.

To be competitive in the sponsorship industry, it’s important to utilize as many resources as possible. Networking, making phone calls, sharing great ideas and information, and using resources like these all add to the overall effort. So, it's important that as a company, we make these resources available so that our members have a competitive edge. And, by encouraging the use of these services that strengthen industry's standard of professionalism, we improve the industry as a whole. SponsorPark is not the be-all-end-all to your sponsorship service needs. Instead, our focus is to offer the resources and paths for building greater opportunities to develop meaningful relationships.

For larger rights holders, especially those with broadcast rights, B6Analytics offers a unique tool that tracks your sponsorship fulfillment for promotions, activations and benefits. The fulfillment can be continuously tracked by the sponsor so that THEY can make adjustments to their promotional and market planning and add elements to the sponsorship for more responsive behavior during the relationship. This adds a greater dimension of flexibility and accountability for both the sponsor and rights holder and is an important tool in further shaping and improving accountability in our industry.

HelpGetSponsors.com is one of the most innovative tools to come along for rights holders. As a member you can create an online proposal and in doing so, HelpGetSponsors.com will provide a value range for your sponsorship using industry-based pricing standards to get a more accurate value for your property. The site can be used to shape sponsor-specific proposals, each with an accurate fee analysis (so the sponsor can see why you are charging that specific fee), and generate a contract based on those elements proposed.

A calendar on the site also allows rights holders to keep deadlines and deliverable tracking for your sponsors. Once you build your proposal to get a better pricing structure for your sponsorship in HelpGetSponsors.com, you'll be able to use that information on SponsorPark.com! I urge you to take it for a test drive by emailing them at [email protected] or call 800-568-6580 to schedule a demonstration. As an added benefit for our members, HelpGetSponsors is offering 2 months free to all SponsorPark.com members.

Finally, SponsorPitch.com still is by far one of the best resources in connecting directly with potential sponsors. It offers a plethora of tips and information on brands, what they've sponsored and what they may be looking for in the future, as well as key decision makers. It also provides a gateway to connect with other sponsorship professionals to exchange activation ideas, trends and successes. A professional membership with SponsorPark.com includes membership to SponsorPitch - a savings of 50% each month.

Combined, these services provide great compliments toward your sponsor acquisition efforts. Stay tuned for more services and features!

Categories:   Elements of a Proposal | General | Marketing | Sponsorship resources | sponsorship sales | Sponsorship Valuation
Actions:   | Permalink | Comments (5) | Comment RSSRSS comment feed

Destination DC's Partnership Summit Recap and Best Practices

by David Rachell
  
4 04 2013

Bruce Gudenberg, VP of Partnerships & Alliances, at Destination DC (Washington DC’s convention and visitors bureau) and his staff put on a half-day sponsorship seminar in D.C. last week.  There were 50 to 60 people in attendance at the event to learn about approaches to sponsorship – offering different perspectives from corporate affairs managers to regional rights holders to, well, me. 

I’ll offer information on my presentation, Sponsorship in a Lawless Landscape, in another blog. Today, I want to commend the insight that Bruce and his staff offer simply by creating a platform for groups in the region to come together and discuss the sponsorship industry.  While it sounds simple enough, it’s really quite ingenious of Destination DC on a number of levels.

By arming those individuals that produce local events and activities in the DC area with sponsorship insights, Destination DC is ensuring that the events that bring guests to the DC area have a better chance of remaining solvent.  The more people heading to DC, the greater the chance of capturing another head in another bed – which is good for Bruce and his staff who survive on the hotel tax.  So, while the purpose is very selfish – it’s one that EVERY city should embrace.  Events in the Washington DC area compete with activities in surrounding markets.  Destination DC provides the edge their event’s need to be more valuable for sponsors.

Their model also includes using staff to lure sponsors to the events – even developing relationships – solely to build a stronger event base while helping worthy organizations throughout the Washington DC area.  The model is noteworthy and should be duplicated.

I’ve worked with a number of CVB’s.  Some provide funding to local events directly through local taxes in order to help strong events remain available to local communities.  Others  offer support in the form of out-market advertising or in-kind hotel rooms for promotional use or to support the event itself.  This model, however, provides a method for all boats to rise – while providing a program that allows organizations to become better at sponsorship marketing.

As a marketing professional, or the executive director for a local CVB, wouldn’t it make sense to provide a sponsorship knowledge base for local events that surpasses surrounding communities? Would local events be more successful by being better organized and better  able to articulate their sponsorship opportunities in a meaningful way for companies?

Let us know if we can help your local CVB form a similar program to support local events in your area. Contact me at [email protected].

Categories:   General | industry happenings | Marketing | Sponsorship resources
Actions:   | Permalink | Comments (4) | Comment RSSRSS comment feed