Sponsors expect more from their sponsorship investment these days. Therefore, sponsorship seekers need to stop and think how to offer a strong return for the investment. The solution: take a more strategic approach. Don’t just do the standard stuff.
If companies are expecting more from their sponsorship budgets, then you should view your sponsorship offer in another light. How can you repackage your offer so it is not merely a sponsorship concept? Look closely at the company you are approaching. Can you restructure your offer so it appeals to other areas within a company? Consider areas whose budgets are healthier than the sponsorship budget, which is usually just a subset of marketing.
Although it is common to approach companies to talk of sponsorships as partnerships, the ensuing agreement usually isn’t really anything like a partnership of equals – in reality the sponsor totally dominates the relationship. The power is almost entirely in their hands. So why bother calling it a partnership?
Call it a business agreement, an investment, or something more upmarket than ‘sponsorship’ and not as fake as ‘partnership.’ Don’t call it a package – not very dignified. The terminology of accepting a sponsorship ‘package’ also subtly implies the sponsor is purchasing the offer and the power lies entirely with them.
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