Earning the Digital Sponsorship Dollar (& Keeping It!)
Do you know what businesses and organizations are spending in sponsor dollars these days? Do you know what it would take for YOU to see some of those dollars? The fact is, sponsorship continues to rise! The amount of revenue is growing, but the problem is the people who are getting that money are receiving less. More money is being spent, but it’s being distributed between fewer and fewer people.
“The sponsorship pie is growing, but being cut into fewer pieces.” – www.sponsorship.com. The largest slices are reserved for properties that can meet the high standards required by a new breed of corporate partner. These are the people who ask for SMARTER partnerships. Once again, the growth rate for sponsorship spending will surpass outlays for traditional advertising in North America. Projection for spending in 2015 is $21.5 billion!
At Saffire, we believe in the Three P’s to gaining sponsorship – Prepare, Personalize, & Provide. Preparing to work with sponsors in a digital age, Personalizing by coming up with creative ideas to market to your sponsors so they will want to partner with you and Providing them with results they need so they will want to work with you again.
Prepare to Partner with Sponsors
Consider yourself a salesperson because sponsorship is sales! Start early in the year, network, do your research, and understand your value! Be smart about what you’re offering your potential sponsor. Basic research before you meet with them is HUGE. Finding the right fit for your company can be a little tricky, but you’ll want to look for “natural fits” by things like: customers, products, geography, past sponsorship experiences and people who work there. Make it clear to them that you’re taking their partnerships seriously and you’ll do whatever it takes to gain their trust! Things like adding a logo to your site at the time of the sponsor meeting can make all the difference. How can you use your sponsors that will be the best partnership for everyone? Sometimes you’re paying them, using their product and they’re giving you sponsorship dollars. Find things you can do to support your sponsor’s business. Saffire’s tip is “People will find a way to work with people they like”. Leaving a good impression and creating bonds with people goes a long way.
Personalize your Packages tailored for each Sponsor
It’s important to make your sponsors feel special. A good rule of thumb with sponsorship packages is to give more than what they’re expecting. This will make them feel special, which will go the extra mile when your event comes around again and they are considering who to partner with. In order to do this, it’s essential to know the most basic components of your organization, which can be provided as benefits to sponsors. You can add value by offering year-round marketing, hospitality, and onsite event promotion
Put sponsors on your online! Create emails, social media shout outs, online advertisements or consider naming the event after your Sponsor. You can also have a dedicated Sponsors page on your website that features your list of sponsors. If you’re looking to get a new website and don’t have quite enough funding for it, this is a fantastic way to get it! Most digital marketing doesn’t cost you anything but time and effort. Give your sponsors space on your YouTube channel, add sponsor logos to print-at-home tickets or name your entire event after a sponsor. Other ways you can feature your sponsors offline are by creating sponsored charging stations on the event grounds, photo booths with sponsors or utilizing their services on fairgrounds.
Provide Measurable Results
Sponsors like data. Sponsors have to have that data to justify why they’re giving you so much money year after year. The best ways to show sponsor ROI are Google Analytics & Audience Survey. Audience Surveys assist and measure ROI, show recognition, attitude and the image you’re showing. Google Analytics is great, but it can be really hard to narrow down once you get it set up. Everyone should be able to get this data from your website. Show sponsors things like Total visits, Audience overview, visits on the Sponsors page of your website, engagement and clicks to leverage ideas for more success in the future.
We believe that the Three P’s – Prepare, Personalize and Provide will help you gain sponsorship (and keep it!).