How to select a Sponsorship
Selection criteria consist of factors having a direct bearing on the choice of event. This is developed from sponsorship objectives and will depend on the needs of the company.
The following are common sponsorship objectives:
* Increase or maintain awareness
* Enhance or change a corporate image
* Change target market perceptions or attitudes
* Develop community involvement
* Build business or trade relations
* Enhance staff relations and motivation
* Build goodwill among customers, business contacts and key influencers
* Increase sales/market share
* Increase target market awareness
* Identify/build product image
* Strengthen brand preference
Target Market Coverage
The event must reach the target market. Detailed information in terms of both the event and audience should be gathered. Also, investigate the degree of reach. Projections based on similar events can be used to determine coverage and the required transmission time.
Consider corporate marketing needs, product seasonality and other communication strategies. Establish that the event does not clash with another major or other events - as media coverage may then only consist of a few minutes or column centimetres.
Investigate competitor sponsorship involvement. If deciding to sponsor a similar event ensure that the event is high profile enough to dominate.
Consider the 'type' of sponsorship available, as different messages are conveyed and different communication strategies are required by different sponsorship types.
Investigate the history of the event and previous sponsors. Ascertain whether the created equity can be displaced in the target market.
Potential Media Exposure
Take the level of media exposure through on-site branding at the event into account. TV exposure is an important feature of a sports sponsorship. On-screen branding can be achieved through timing analysis of previous editions of the event or similar events.
The synergy between the sponsor and the event can be an advantage eg. Nike sponsoring a soccer event
The event should fit in with the corporate brand image and adapt to the company's policy.
Value for money and affordability should be considered.
Examine factors as suitability and venue facilities for VIP guests entertainment.
Licensing and Merchandising
This factor is important as it can be very profitable and provide the added value to your sponsorship. It is critical that the primary sponsor uses the licensing option to prevent ambush marketing
The sponsor may sell merchandising rights to a supplier for the event that would feature the logo or theme piece. The merchandiser pays royalties for the use of the logo, All items bearing the logo should be approved and this requirement should be stipulated in the contract. Without control merchandising could be of inferior quality and the logo may be incorrectly printed - resulting in a negative impact on the programme.