| If you’re considering organizing a competitive event, | | | | to gain from the partnership. So your entire focus, as |
| you have probably thought about sponsorship. | | | | you’re pitching sponsors, should be on convincing |
| Watch any live or televised sporting event and your | | | | them that you are prepared to provide them with |
| eyes will be bombarded with a mind-boggling array of | | | | specific benefits. Show them that you understand |
| brand names and corporate logos plastered onto just | | | | what they want and that you, among all potential event |
| about anything that moves (or doesn’t move). | | | | organizers, are uniquely positioned to deliver it. |
| Players’ uniforms, sporting equipment, playfields, TV | | | | Second, sponsorship is a business relationship. |
| backdrops - not to mention websites, brochures and | | | | "Business" defines the type of benefit the sponsor is |
| programs - all bear the unavoidable mark of | | | | looking for from the relationship. Remember, your |
| sponsorship. | | | | sponsor is not providing the sponsorship as a charity |
| Sponsorship is a major driver of successful sporting | | | | gesture or as a way to relieve herself of burdensome |
| events in today’s world. Sponsors provide | | | | excess cash. She is doing so with the intention of |
| money, products, services and strategic partnerships | | | | receiving some business-related benefit. |
| to event organizers and competitors. They also | | | | What that means is that she is looking for a result that |
| provide prestige, credibility, marketing value and a host | | | | can be measured. As organizers, we may be |
| of other intangibles. Sponsors are indispensable allies | | | | tempted to think it’s enough to accept a wad of |
| in today’s event-organizing landscape. So how | | | | corporate cash and splash the sponsor’s logo on a |
| can you get your hands on some of the perks a great | | | | player’s helmet or two. But most sponsors are |
| sponsor offers? | | | | looking for actual, tangible results – an increase in |
| Well, the first thing you need to do is to step back, | | | | foot traffic to their stores, a bump in web sales. Yes, |
| take a deep breath, and gain an understanding about | | | | sponsors also want intangibles such as public |
| what sponsorship is. Contrary to popular hopes, | | | | exposure and brand enhancement, but it’s the |
| sponsorship is not just a cash faucet that you turn on | | | | business bottom-line that is driving their interest. How |
| to help you make money. (How lovely if that were | | | | will partnering with you bring them more business? |
| true!) Sponsorship is a special type of business | | | | Plain and simple. |
| arrangement, with special rules and considerations. If | | | | So always try to come up with some specific and |
| you really understand what sponsorship is, you will gain | | | | quantifiable pre-defined objectives. Let’s say, for |
| a distinct competitive advantage in attracting great | | | | example, you email a coupon from the sponsor to |
| sponsors for your event. | | | | everyone who registers for the event. Your sponsor |
| So let’s look at a definition, shall we? It won’t | | | | can then easily track how many coupons are |
| be too painful. Promise. | | | | redeemed in its stores. Does this number match their |
| Sponsorship is a (1) mutually advantageous (2) | | | | objectives? Does it indicate strong buy-in among |
| business relationship between parties in which the | | | | your event competitors and spectators? That’s |
| sponsor provides benefits for the sponsored in | | | | just one example of how pre-defined objectives can |
| exchange for a (3) result that can be measured (4) | | | | be used. |
| against pre-defined objectives. | | | | Remember, specific objectives are good for you as |
| Now that may sound like something out of a Harvard | | | | well as the sponsor. Why? They give you |
| MBA course catalog, but let’s break it down into | | | | something to point to. They give you concrete |
| simple terms. If you’ll notice, the definition contains | | | | evidence of your success that you can cite when |
| four key components. | | | | trying to re-sign this sponsor or attract new sponsors. |
| Sponsorship, first of all, must be mutually | | | | Always keep in mind the two-way nature of |
| advantageous. That is, it must work for your sponsor | | | | sponsorship. It’s those organizers who are highly |
| as well as for you. Sponsorship is a two-way | | | | motivated to show what they can offer to sponsors, |
| street. The key to successfully wooing sponsors is | | | | not what they can gain, who routinely snag the great |
| to understand the benefits they will be receiving, not | | | | corporate (and local) sponsors. |
| you. Presumably you already know what you hope | | | | |