“I need a new solution to funding our organization’s efforts,” is a statement we hear from time to time as we chat with new members. Especially the not for profits who have never really relied on sponsorship as a way to generate funding for the efforts they are so passionate about. It is smart to spend time educating yourself on how to do sponsorship – because it really is a new concept to ask for sponsor support in exchange for something that will value them. There are right ways to do it and wrong ways to do it – but that’s another topic entirely.
For most organizations we agree that sponsorship is a good idea for many reasons, and we thought we’d just take a moment and underscore the reasons we love sponsorship and think it’s a really good idea. Now, I don’t think sponsorship is for everyone. I can’t tell you how many conversations I have with Joe Smith who wants a sponsor to fund his education or Sally Sue who wants a sponsor to invest in her new business she’s trying to launch in two months. Sponsorship is not a donation and it is not a new venture to invest in. It’s a partnership. And if you’re not prepared to be a partner, you’re not ready for sponsorship. With that in mind, here are some of our favorite things about sponsorship:
- It’s innovative marketing – compared to traditional marketing, sponsorship is not the “same ol” attention getting techniques that used to be effective. It’s unique, custom fitted, and creative. It’s new.
- It meets an audience’s need – when done right, sponsorship makes an audience’s experience better. It can take an experience from good to great. And this is good for all parties involved. You want your audience to enjoy your organization more? Sign on a partner that has the ability to impact the experience and watch your popularity grow.
- Every partnership is unique – the potential for something new and different is there for every effort. Like a snowflake or a friendships, no two are just alike, there’s fresh new potential for every effort.
- The potential ROI is explosive with the right partner. A brand can really mold their image and create a favorable perspective with the right partnership through their sponsorship investment. Granted it takes good planning and dynamite activation, but if done well a sponsor and property can gain a lot of insight into what works and why and how to improve the next time around to keep growing their brands.
Truth be told, this is just a handful of reasons why sponsorship is a good idea; what have you experienced that drives you as a sponsorship professional.