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How do I value sponsorships, advertising, and marketing by other businesses in my building?
I have a facility for year-round sports tournaments, camps, leagues, charities, and community use. I have a lot of people traffic and space for advertising, sponsorships, and businesses. How do I value these mediums to know what to ask for their use?
Asked by C J Woodrow
Posted: Thursday, January 10, 2008 | Found in Advertising & PR
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Find places in other towns that are selling the types of opportunities you'd like to offer and get a price list from them. If no one else is selling similar opportunities, it's not likely you'll be able to do it, either. My fear is that you're going to find advertising sales a much tougher business than you suspect. To be successful, you're going to have to have a steady stream of warm contacts available to you and you're going to have to brazenly suggest to people that they should "sponsor this event," "put your ad on a sign right up there," or "take advantage of the captive audience that comes into this place every day." There is no such thing as advertising that sells itself. Good luck to you.
Roy Williams is the founder and president of international ad agency Wizard of Ads. He's also the author of numerous books on improving advertising efforts, including The Wizard of Ads and Secret Formulas of the Wizard of Ads.
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