What is SPONSORSHIP!!!
Sponsorship is one of the methods open to an organization to convey itself or its product to the consideration or attention of consumers and present them in a favorable light.
Publicizing is the most frequently utilized advertising tool and addresses a customer specifically. It declares the availability of an item and makes a picture from a brand.
It can likewise give data on product quality, attributes, cost and execution.
Sponsorship looks to upgrade these messages by relationship with an event, club or group that offers comparative picture characteristics and qualities as the brand.
Sponsorship is a speculation, in cash or in kind, as an end- result of access to exploitable business potential related with an event or highly publicized entity.
Sponsorship ought to be viewed as a compelling specialized device for achieving across outskirts.
Organizations try to portray a positive image both through the media or community work by sponsoring a series of interrelated regional, national and international events and working the sponsorships via national and international media relations.
Sponsorship is a standout amongst the most capable situating devices accessible to a business. It is a procedure and a device that can fabricate and support intense and long haul mark connections for a business that utilizations it to most extreme impact.
Sponsorship should not be considered as a gift given to make a warm inclination about a specific individual or organization, it isn’t a pessimistic abuse of ability, innovativeness, and scholarly capacity of a person, organization or a group of sporting, artistic or other events. It is just another device in the hands of advertising master who is viewed as the contact between the inner and outside publics of the association.
The estimation of a sponsorship is the related rub-off it has: something is supported in light of the fact that it adds esteem and offers access to the target audience group, and not exclusively for corporate social obligation.
A Company taking a gander at sponsorship still needs to accomplish “A CERTAIN OBJECTIVE AND TARGET.”
As an event master your thoughts must be clear as far as sponsorship is concerned, discarding cash in unfruitful occasions by any associations wouldn’t help whatsoever.
Sponsorship is a relatively passive form of communication, it once in a while works adequately if not arranged and executed in an expert way.
Sponsorship of the correct sort of event offers astounding open doors for client and staff fulfillment.
Supporting a nearby group occasion or event can make contrast in how an organization is seen by the inner and additionally outer publics of the association. It likewise helps in introducing the business in a desired light and therefore makes recruitment simpler.
AS YOU GO THROUGH THE FOLLOWING TEN-STEP PROCESS,YOU WILL IDENTIFY WHAT SPONSORS WANT, YOU WILL GET A BETTER UNDERSTANDING OF WHAT WORDS TO USE, HOW TO PRICE AND EVALUATE , ON A POST BASIS , WHAT YOU PROVIDE TO THE SPONSOR.
1. TAKE INVENTORY: WHAT ARE YOU SELLING? You have various components in your event that have an incentive to the support. They incorporate , however are not confined to, the accompanying:
• Radio, TV and print partners
• Retail outlets
• Collateral material- posters, flyers, brochures, table tents, payroll stuffers, bank and utility bill stuffers, etc.
• VIP seating/parking
• Hospitality suites
• On-site banners
• Audio announcements
• Product sales/ product displays
• Celebrity appearances/ interviews
Take a gander at your event as a store and take stock of the things that may have an incentive to your supporters, regardless of whether it is for advertising or friendliness. For changing the event into an effective and successful affair takes as much time as necessary in ordering a complete rundown. Time spent toward the start will be remunerated by more effective sponsorships when you get into the offering procedure.
2. DEVELOP YOUR MEDIA AND RETAIL PARTNERS:
Media and retail partners should be treated the same way as all other sponsors, with similar rights and advantages.
Sponsorship has to become more and more accountable, and offer a strong return on investment, this retail relationship is vital to ensure the success of your product sponsorship. You must have something to give to your potential sponsors. After all nothing comes free in business, no one wants to give away the hard earned money in charity.
3. DEVELOP YOUR SPONSORSHIP OFFERINGS
Try to avoid too many levels and “Cutesy” headings.
Simply, you can have title, presenting, associate, product-specific and event-specific categories. They are easy to understand and easy to sell.
4. RESEARCH YOUR SPONSORS
Learn about your potential sponsors.
As an event expert it is your prime responsibility to strike hard on every prospective target to get maximum output for turning your event into a success. The more you know about them, the better prepared you will be for their questions, and the easier it will be for you to craft a sponsorship offering that meets their specific needs. Be prepared to discuss the sponsor’s individual marketing strategies with them when making the sales call. You will have to answer the questions quickly and intelligently during the sales process.
5. CONTACT THE POTENTIAL SPONSOR
Pick up the telephone.
If you have done your research, and have taken advantage of what is available over the internet, you should have a contact name. Always start from the top level management; you can work your way down much easier than working your way up. And, remember, there are many different departments that can benefit from sponsorship.
When you reach the correct person, don’t launch right into a sales pitch. Whenever you’ll talk about the services that you can provide in the very first meeting your image might get tarnished and all your research might result into failure. Rather, ask them several questions about their business that will indicate to you whether or not they are a viable sponsor for your project.
6. GO FOR THE APPOINTMENT
Once you have had a brief discussion, try to get the appointment.
If they say, “send us package”, then send it right away and call to make sure they’ve received it. Send them a package of information that will outline your discussion and presentation. And then ask for appointment and go for a meeting when you have papers readily available in hand.
7. BE CREATIVE
Demonstrate your knowledge of their business by offering a sponsorship that meets their specific needs.
Help them create a new and unique way to enhance their sponsorship beyond the event. Think about hospitality opportunities such as rewards for leading salespeople, special customer rewards, or incentives for the trade. Be prepared to offer these ideas, and more, to help the sponsor understand how this sponsorship offers them a great benefit.
8. MAKING THE SALE
It’s now the moment of truth.
You can’t wait for the sponsor to offer, rather you’ve to ask, “Will we be working together on this project?” or something similar. You will have to develop your own closing questions. Make sure to include a payment schedule that ensures you receive all monies owed before the event.
9. KEEP THE SPONSOR IN THE LOOP
After the sales process, you should keep the sponsors involved throughout the event.
Involve your sponsors in each and every activities of the event from the starting to make sure they are happy with their logo placement.
10. POST-EVENT SPONSORSHIP MAINTENANCE AND RENEWAL
The post-event report is the last segment of this saying.
Provide your sponsors with complete documentation of their participation. It is your duty as an event expert to provide proper feedback to the client regarding the useful outcome of the money, which they gave for sponsoring your event. This should include copies of all collateral material, an affidavit of performance from your radio and TV partners, tear sheets, retail brochures, tickets, banners, press stories, and any other materials that have their company name or logo prominently mentioned or displayed. This should all include in a kit with a written post-event report that lists the valuation of the various components, and presented to the sponsor with a certificate of appreciation for their participation.