Sponsorships are a great way to align like-minded brands and amplify PR and social media reach for all involved, but it is important to ensure that concrete value can be extracted from the opportunity. Often, producers seeking sponsorships promise a lot of exposure and logo placement for a sponsor, but the brand doesn’t receive the ROI because there is no activation or interaction opportunity for the brand.
Our agency negotiates sponsorship opportunities for the brands on our roster, but we also secure sponsorships for the events and fashion shows we produce and provide consulting for brands seeking sponsorship opportunities. Playing both sides of the sponsorship coin has given us unique insight into what producers and sponsors need to create a mutually beneficial sponsorship opportunity.
Playing both sides of the sponsorship coin has given us unique insight into what producers and sponsors need to create a mutually beneficial sponsorship opportunity.
We recently negotiated a sponsorship for a brand wanting to capitalize on the upcoming Coachella festival and later this month we will begin working to secure sponsorships for our Miami Swim Week events. Sponsorships are fresh on our minds right now and so we offer brands and those producing sponsored activations the following tips to make sponsorships work for you:
Really focus in on how the event or sponsorship opportunities will create brand interaction opportunities between their audience and your brand. What are the opportunities to get your messaging before, during and after the event. Other questions to ask:
Get everything in writing.
Make sure that you sign a sponsorship agreement outlining the responsibilities of the producer and the brand.
Get a Post Event Report.
Make sure that you receive a post event report with full access to photos, press release, social media impressions and customer lists if they have them.
It is important to create a sponsorship deck that outlines the opportunity and includes photos from past activations if you have them (renderings or plans for what to expect are great too if it’s a new event. Clearly outline all of the benefits that the sponsor will receive at each level of sponsorship and provide baseline pricing. Include layouts and floor plans for event activations and sample press clippings from previous events.
It is much easier to keep a sponsor coming back than to have to find new sponsors every year, so strike a balance between demonstrating how awesome your activation will be, and a realistic presentation of the type of result sponsors can expect from the event. Ask potential sponsors what they are trying to accomplish through sponsorships and work collaboratively to develop unique packages that align with sponsor needs.
In this heavy social media era where images are king, often you can create a lot of value for brands by giving them full access to use photos and video from the event. Make sure that you create an organized shot list for your photographer to capture sponsor activations to really create full value, and aim to turn those around quickly so that sponsors can promote their participation.
Make sure you have a plan of action in place to provide your sponsors with press releases, links to photo and video files, social media impressions, etc within 24 hours of the event. Provide analysis of the effectiveness/reach/impressions or leads generated as a result of their participation.
Sponsorships can be a great way to build brand presence and position a brand with complimentary products and services, but it is important to understand the real value each party is getting to make sure it makes sense for everyone involved.
Photo via: Chic by Prince B
