To Sponsor or Not to Sponsor

It’s highly likely that a request or two for sponsorship has dropped into your inbox recently.  There are loads of individuals, teams, events and restoration projects searching for funds to make good on what they have set out to achieve.  

As much as we would like to support every request, it’s just not feasible.  Sponsorships can be an important part of your marketing mix, so it’s all about picking the right opportunities.  

Firstly, every approach must be assessed against your business goals.  Does it align with what you are looking to achieve over time?  Does it fit with your business values?  Will it help you reach the right audience, in the right place, at the right time?

Secondly, think about value.  What is being asked of your business?  What will you get in return?  How big will the impact be?  How much resource will you need to put in to make the sponsorship a success?  

If the answers are positive at this point, then it’s time to open initial discussions.  You want to be looking at the capabilities of the people/organisation involved, the plan they have in place to achieve what they are looking to do and how realistic it is.  To move forward, it’s prudent to have an agreement in place setting expectations on each side. 

The right, carefully chosen sponsorships can be great for your business, so always at least take a glance at those emails.