The phrase is timeless: if it doesn’t make dollars, it doesn’t make sense.
Being timeless it is logical that organizations consider this phrase when thinking about sponsorship marketing and sales. When designing sponsorship offerings that are targeted to for-profit businesses it is best practice to present the business value proposition of the partnership between organization and sponsor in a compelling way. Sponsorships can be effective in business marketing on a small and large scale. Though in many instances the offerings presented follow a standard mold and can be viewed by both organizations and sponsors less as advertising and more as outright philanthropy.
It is impressive and rewarding to purchase sponsorships simply to advance a philanthropic drive. Though the better position is to not only advance the philanthropic outcome and how the funds support the organization’s mission, but also focus on the value proposition for the sponsor. To advance this aim organizations should think about the metrics considered by their prospective corporate sponsor. For example:
- What are the benefits to the prospective sponsor’s organization and mission?
- How many prospective users will see the sponsorship?
- How long will the sponsorship be live?
- Will the sponsorship material be refreshed or modified in any manner that would cause repeat views, or drive additional traffic?
- Why is this sponsorship better than others who are also soliciting the sponsor?
- Why is the fair market value of the offer set at the current value?
- How can you exceed your proposed return on investment?
Any organization that can answer these questions, or better yet, can present this information as part of their offering should see increased interest in the business value proposition of the sponsorship offer better than their peers. Additionally, the ability to subsequently prove the data points and drive leads will present a far easier case come renewal discussions.
The concept behind the Sponsoar platform is to enable our organizations to present their sponsorship offerings in an efficient and intelligent manner with more time to focus on the business value proposition. Let the Sponsoar platform provide for quick sponsorship acquisition, ongoing communication with sponsors, and streamlined renewal offers.
