We like those who like what we like. Whew – there’s a mouthful! Why? Because it’s easier. In fact, generally speaking, really good marriages are truly really good marriages because those priorities that are most important to one person are also important to the other. The likelihood of a couple living happily ever after hangs on this truth. Why? Because if you have vested interest in something and it captures big portions of your heart, your thoughts and your time, you have a desire for your partner to relate and share that with you; it helps you grow, and it makes the relationship so much more enjoyable!
The same is true for sponsorship partners. There are some combinations that to be frank, just aren’t going to work, because this relationship is a give-take, and it’s based on a foundational parallel interest – the Target Audience. Target audience information includes gender, household income, age, household structure, etc. I would argue that you can have excellent surrounding offerings; activation can be fantastic, the fulfillment reporting can be top notch and deeply insightful, the media coverage and scope of the exposure you offer could be out of this world, but if the target audience isn’t aligned, the rest is moot.
Take note of this carefully: target audience is information you MUST have clear, quantitative information about in your initial proposal. There are some things that are tough to assign a number to, they’re intangible – this is not one of them (obviously if you’re a first time event you don’t have a history to strengthen your projections, but you still know who you’re marketing to – make an educated estimate when you communicate numbers). With a strained economy, the truth is that sponsors are under strict, judgmental scrutiny from their consumers as to how they are spending their money. Consumer awareness for how companies are spending their money is so much more significant than ever before. While all of you who are active in sponsorship know that it’s a marketing method, a business development method, and not a luxury; the consumer doesn’t process it that way when they see a corporate sponsor offering partners or key players in business VIP tickets to a golf tournament. How can you help your sponsor survive the scrutiny of their critics? Offer them real, tangible evidence that their investment in you will without a doubt allow them to connect with their target market as a relevant marketing effort. Your target audience must bet the same as the audience they want to get in front of.
Tell me your thoughts? Do you agree? If you have been part of a partnership like this we want to hear about it - tell us your successes.