Top 10 Tips for Marketing Executives Adding Sponsorships to the Marketing Mix
As a seasoned sponsorship expert and owner of Snag Business, I've helped generate more than $340 million in sponsorship sales over the last 15 years. I believe in the power of sponsorship and that it can be an indispensable tool for brand development and audience engagement when used correctly.
If you're considering adding sponsorships to your marketing mix, I'd like to share my top 10 tips to make your efforts successful.
1. Understand the Power of Sponsorship
Sponsorships are a more powerful medium than other channels because sports leverage the fans' passion and emotion. The powerful connection leverages that goodwill to build an association between the property and your brand, enabling fans to resonate with your messaging much more effectively. Sponsorship is a qualitative medium and should be treated as such to help spread your brand message.
2. Align with Your Brand Values
Sponsorship should be in harmony with your brand values. Finding a partner with the same vision and goals is crucial. Sponsorships offer an opportunity to bring your brand's mission to life and connect with audiences more profoundly and meaningfully. Ensure that your sponsor's cause, team, or event resonates with your brand's ethos and values.
3. Know Your Audience
Understanding your audience is critical when considering sponsorships. Aligning with an event, cause, or personality your target audience cares about increases the chances of your message being well-received. Use your customer data and market research to define who your audience is, what they value, and where their interests lie.
4. Set Clear Objectives
Before entering any sponsorship agreement, defining what success looks like is vital. Whether you're looking to increase brand awareness, launch a new product, or tap into a new demographic, having clear objectives will guide your strategy and help measure your return on investment.
5. Integrate Sponsorship Across All Marketing Channels
Sponsorships should not exist in a silo. Integrating your sponsorship across all marketing channels allows for a consistent message, amplifies your reach, and drives more impactful results. From social media to email marketing, ensure your sponsorship is visible and consistent across all platforms.
6. Leverage Exclusivity
Negotiate for category exclusivity in your sponsorship agreements whenever possible. Being the sole sponsor from your industry can give your brand a competitive edge and allow you to stand out more prominently to your target audience.
7. Measure Success
To understand the impact of your sponsorship, you need to measure its success. Depending on your objectives and the sponsorship assets you receive, some methods include brand awareness surveys, sales data, social media engagement, or direct customer feedback. Establishing key performance indicators (KPIs) aligned with your objectives will enable you to quantify the success of your sponsorship.
8. Be Ready to Commit Long Term
Building solid relationships with your sponsored partners takes time. Long-term commitments allow your audience to associate your brand with the partner, building stronger brand recall and loyalty. It also shows your commitment to the cause, event, or team you are sponsoring, which can positively influence your brand image.
9. Plan for Fulfilment
After the budget is allocated, details are negotiated, and the contracts are signed, your job as CMO is to make sure that your internal team and the sponsor team have a clear understanding of what is needed in order to properly leverage the assets. For example, if you will receive an activation booth at a game - who is responsible for staffing the booth? If you will receive a 30-second commercial spot - who is responsible for producing the content? Failure to plan is planning to fail.
10. Be Authentic
Finally, be authentic. Consumers can see through insincere marketing tactics. Your sponsorship should feel genuine and provide added value to the fans' experience. That maximizes the effectiveness of your sponsorship, driving both ROI and ROO.
Conclusion
Marketing executives adding sponsorships to the marketing mix enables the brand to connect with its audience on a deeper level, increase brand visibility, and drive business growth. With careful planning, strategic choice of sponsorship, and authenticity, you can maximize the impact of your sponsorship efforts and create lasting relationships with your audience. And if you would like more guidance navigating your sponsorship marketing, I'm always happy to help! Drop me a note at: snag@snag.business