[Solution]Definitions of Sponsorship

Definitions of Sponsorship “Cash and/or an in-kind fee paid to a property (typically in sports, arts, entertainment or causes) in return for access to the…

Definitions of Sponsorship

“Cash and/or an in-kind fee paid to a property (typically in sports, arts, entertainment or causes) in return for access to the exploitable commercial potential associated with that property.”
— The International Events Group (IEG)
“A mutually beneficial relationship most often between a corporation and event or rights holder, for the purpose of enhancing a product or corporate brand.”
— The Exordium Group
“It is like any other form of marketing—it is an activity that puts buyers and sellers together, with both receiving certain benefits.”

— Skinner &Rukavina
 
Some Important Things for Successful Sponsorships…

Create the match between the people who may come to your event and your sponsors are concerned (their potential customers)
Create the best packages
Write the best proposals
Create added value
Learn the proper selling techniques
Establish a good relationship with your sponsors
Research your sponsors very well
The Most Important

 
 
Create an event that is better than the rest!

The most important requirement in selling sponsorship

—you must have a good event to start with.
 
The Keys to Creating a Strong Event

Present the dominant event in your community, or at least the best in your category (arts festival, music event, etc.).
Do something that others cannot—present something special about your community
Develop an event that is held in high regard, and that has value

 

Change your event (keep the good things you do, but make them better and add to your program).
Always strive to take your event to the next level each year.
Research and adopt ideas from other events, and adapt them to your own situation.
Make your event something that sponsors cannot stay away from.

 
Reasons for Sponsoring Events

Ten Reasons That Companies Sponsor Events:
Heighten visibility
Shape consumer attitudes
Narrowcasting
Provide incentives for retailers, dealers, and distributors
Entertain clients
Recruit/retain employees
Create merchandising opportunities
Showcase product attributes
Differentiate their product from competitors
Drive sales

 
The Marketing Plan

Break down your event and determine what you have to sell
Write down every possible thing that might be sponsored (e.g., title sponsorship, areas, stages, services, and so forth)
If you have more than one stage, each can have a sponsor.

 

Start by selling sponsorship to media.
First and foremost, sponsorship starts with the various media, because they can help you sell other sponsorships.

E.g., Radio station
 

Determine the categories of companies you want to approach

E.g., beverage, communications, financial institutions, etc.
 
 

Types of Sponsors
Title Sponsor : Sponsor is part of the name of the event (Tostitos Fiesta Bowl)
Presenting Sponsor: Mentioned after the name of the event (The Rose Bowl, presented by AT&T). Not as valuable for the sponsor as title sponsorship, as most times the media in writing about the event will drop the name of the sponsor.
In-kind Sponsor: Cash is not provided, but service is. (airline tickets, food, beverage, etc.)
Official Sponsor: A product that is an event’s exclusive sponsor
Media Sponsor: Print, radio, television, Web site sponsors.

Co-sponsor: Company that is part of an event with other sponsors.
 

Determine your target companies
Focus on the large advertisers in your market, particularly those that sponsor other events.
Also focus on companies that sponsor similar events in other markets.
Sponsors can bring other sponsors.

 
What to Research

Getting into the Sponsor’s Mind
It is important to get to know your sponsors so you know how they think.
Learning a sponsor’s personal interests
Discovering the interests of the marketing executives you are meeting
g., Children, education,
health and human services,
sports, culture and the arts,
quality of life, etc.
Learning about their hobbies,recreational interests, family, locale,and the like.

 
Five recommendations from the European Committee for Business, Arts and Culture (CEREC):

Research the company well
Locate a number of tools to use
Find the point of contact at the company
Know what different people in a company are interested in when they are sponsoring your event
Be careful about timing

Developing A Sponsorship Proposal

Research the sponsor
Develop added value
Utilize all the techniques we have learned in our first eight lectures
Look at sponsorship through the sponsor’s eyes

 
If you skip all of the aforementioned procedures, your proposal may cover only what the event needs, but not what the sponsor desires.
 
You proposal may end up in the potential sponsor’s trash can.

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