I get calls everyday from several event organizers asking me to help them source for Sponsors. Yeah, I know every event organizer would love to have someone or company to bankroll their event ideas.
Having sponsorship funding allows organizers to focus more on the production of their sports event and reduces stress when it comes to finding money to put together the event ideas. But I usually ask the event organizers one vital question:
"Why should any company want to sponsor your sport event?"
This question seems to jostle most of them and I see them struggling for words. They find it difficult to answer the question. Many of them haven't even thought of it that way. I realized that what they were actually asking for is "donation."
Well, the sad news is companies don't just go throwing money about. They sponsor sport events to gain some objectives in return. Sponsorships between brands and event is a partnership where both parties should benefit.
So, what can your sport event offer in return to a sponsor's funds?
Understanding what sponsors are asking for in return and putting them in place, will make your sport event more attractive.
Companies are looking for platforms or events that can reach and influence certain demography of audiences. If your sport event can reach a large number of these audiences and can influence them, then you will find companies and brands come rushing to sponsor the event.
Why should companies Sponsor your Sport Event? What Do Sponsors Get in Return - Return on investment (ROI)
First, can the event deliver Audience insights. Have a direct access to Ideal Customer Profile (ICP) data?
2. Lead generation: can the event help brand to generate potential customers and possibly drive them to make first time purchase (Activation)?
3. Traffic: Can the event drive social media/website traffic/focused content strategy to favour the brand?
4. Sales: Can the event create opportunities for closing sales with warm prospects?
5.Brand association: Can the event highlight the brand''s product or service offering to the audience and get them to associate with the brand?
6 Brand building - Can the event create brand awareness and drive audience towards brand preference?
Before a company goes into sponsorship partnership with a Sport event they would have done some research to know if they can achieve the following objectives in measurable terms
1. Brand awareness; Get more people to identify and differentiate your brand from that of competitors.
2. Goodwill: drive excitement around the brand, its products, and services. ...
3. Sales: increase product or service sales. ...
4. Market Expansion: Introduce brand to a new geography or a new segment of the market.
5. Market launch of a new product.
