When done right, sponsorship marketing is a valuable win-win conversation that benefits both the sponsor and the program organizer. And ultimately, determining whether it is win-win boils down to having a common target market.
The organization or company making the ask should feel comfortable to know that their project is attracting exactly the type of customers that the sponsor is seeking. The sponsor should know how to ask what market their sponsorship dollars will allow them to reach across various platforms. Ultimately, if the audience and benefits align, sponsorship is in everyone’s best interest.
The biggest mistake I see organizers make is to start with their circle of friends in seeking sponsors. It is a short-term solution, and it doesn’t last because the interest of the sponsor is really not in alignment. If this is you, it is time to start thinking about long-term strategy that will allow you to build relationships.
There is a lot of material I can share about this topic. If you’re interested, let me know – and feel free to ask questions that I can answer in upcoming tips on sponsorship marketing.