Brought To You By ... Getting hip to sponsorship
By Gwen Moran Edited by Frances Dodds
Opinions expressed by Entrepreneur contributors are their own.
Once upon a time, the word "sponsorship" meant sportsor entertainment ventures with Olympic-sized price tags. Today,sponsorships can be an innovative and cost-effective way to alignyour business with an event, group or cause that appeals to yourtarget audience. Offering one-on-one exposure, publicity, on-sitesampling and other promotional opportunities, event sponsorship isa power-packed medium filled with marketing possibilities.
Because events often attract attendees with very specificprofiles or interests, savvy marketers can reach key audiences withlaser-like precision. According to Todd Jameson, executive vicepresident of Indianapolis-based HSI Show Productions, a producer oftrade and consumer shows, sponsorship marketing can be the ultimatewin-win situation. "What other medium does all the outreachfor you so you can spend time meeting your prospectsface-to-face?" Jameson asks.
Sponsorships are an important part of your marketing mix, sohere are some steps to take to protect your investment:
- Examine the event's track record. Look for an eventthat's been around for several years and is likely to have anestablished audience. If the event is new, make sure the produceris reputable and experienced. Be sure to get details about theaverage attendance and attendees' demographic profiles. Manyevent marketers conduct exit surveys and other forms of on-siteresearch to better target the event's marketing efforts, so seeif this information is available for review. The more informationyou have, the better you'll be able to judge whether yoursponsorship will be effective.
- Check references. After speaking with the eventproducer, call some of the event's existing sponsors. Do theirdescriptions of the attendees match the profiles provided by theevent producer? Did the last event run smoothly? Find out what theylike --and don't like--about the event, its management andother factors.
- Buy à la carte. Although an event may have existingsponsorship packages, these can often be customized to suit yourneeds. For instance, a sponsorship package may include 100 freetickets to the event for your customers. If you don't needthose tickets, swap them for additional on-site signage or an ad inthe event program.
- Look for promotional opportunities. Discuss with theevent producer how the event will be marketed. See if co-opadvertising or additional on-site promotional opportunities exist.Can information about your company or a coupon be printed on theback of admission tickets, or can you offer a giveaway to the first250 attendees?
- Be unique. Try to guarantee that you're the onlysponsor of your kind at the event. Your efforts will be mosteffective if you have no on-site competition.
- Find out "what if?" Bad weather or acts of Godcan spell disaster for an event. Ask what provisions have been madefor such situations. Some insurance companies provide eventinsurance, which protects you if the show doesn't go on. Also,check with your own insurance agent to make sure you'readequately covered for any potential liability.
- Get it in writing. Make sure your agreement is itemizedand that both parties sign the document. You may also want to haveyour attorney review the contract.
Gwen Moran is president of Moran Marketing Associates, apublic relations and marketing communications agency based inOcean, New Jersey. E-mail her at moranmarketing@erols.com.
Next Step
International Events Group (IEG) in Chicago offers a widevariety of books, newsletters and information on effectively buyingand selling sponsorships. Contact them at (800) 834-4850 orhttp://www.sponsorship.com
Contact Source
HIS Show Productions, (317) 576-9933, fax: (317)576-9955
