Sponsorship Plans
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In today's commerce, sponsorship - or corporate partnerships - is integrated with all aspects of a product or project's life cycle.
Sponsors are involved with product launches, co-branded promotions, media and event underwriting, place operations, and much more. Sponsors are active in all aspects of business and society, from sports, to community orchestras, to educational programming.
Sponsorships, though, are not charity, and many corporate backers prefer the term "corporate partnerships" to describe the participation in sponsor programs.
Sponsor participation is based on distinct business models for involvement, which although are less reliant on direct sales results, are based on expectations for customer impressions, awareness, product trial, and perceived brand perceptions as a result of the participation.
Brands today seek messaging that places the brand in a consumer's everyday life, in a way that may resonate for a consumer, the end user and possibly make a deeper direct connection than basic advertising might - an experiential branding message.
Sponsorships and "Sponsorship Plans," also referred to as corporate partnerships, have become a crucial element to the success of of out-of-home projects. This is true at several levels, including the most obvious - financial contribution, as well as in achieving content freshness with each guest visit and branded reliability. Themed Entertainment facilities in particular, do well with integrated facility sponsorship programs.
Getting the program right at the outset, is the key to convincing corporate partners as to program viability. Proper attention must be paid to such considerations as image compatibility, audience composition, wholesaler/distributor incentivization, merchandising leverage, media coverage, exclusivity, and the ability to impact sales.
The good news is that major consumer product companies see place-based sponsor and corporate partnerships as a viable means of messaging to desired customer groups. But the major consumer brands are accustomed to analysis that justifies their participation. The criteria shown to the right is a starting point for many sponsors.
Considerations for Sponsors Considering Experiential Branding (Place-Based) Sponsorships
Image Compatibility
- Does venue offer appropriate imagery?
- Is lifestyle worthy of association?
- Co-sponsors worthy of association?
Audience Composition/Reach
- Venue's core audience buying habits?
- What is the extended reach?
- What geo markets does the exposure impact?
- Can the audience identify with the events?
Ability to Incentivize Wholesalers, Distributors and Retailers
- Retailer tie-ins for local shop traffic?
- Multiple promotions, distinct by retailer?
Ability to Leverage Merchandising Programs
- Opportunity for multi-brand involvement?
- Co-promotions with co-sponsors?
- Can program work with existing promo?
- Is promo schedule ongoing or seasonal?
- How about product sampling and display?
Continuity / Ability to Extend
- Do sponsors have long-term potential?
- Can the sponsorship be built on?
Media Coverage
- Is the Property appealing to the media?
- Can it draw broadcast and print coverage?
- Can the sponsor presence recognized?
- Can we attract network/cable/broadcast TV?
- Chance for our logo to show up on TV?
Exclusivity
- Are category exclusivities exclusive enough ?
- Will the Property be cluttered with sponsors?
- Is venue identified with other companies?
Communicate Product Attributes
- Does venue lend credibility to sponsor?
Ability to Impact Sales
- Can promotions include product purchase?
- Additional sponsor distribution outlets?
Efficiency
- Is Venue's audience wider than needed?
- What is sponsor value/cost relationship?
- Review this sponsor plan to comparables?
- Adequate promotional budget?
- Other means to reach the customer better?
Ease of Administration
- Can Property deliver what was promised?
- Staff to administer this sponsor plan?
- Internal management team in place?
- Venue staff responsive to sponsor needs?
- Venue staff help with cross-promotions?
Related Topics
Ideation
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Stonecreek Partners Resource pages are provided freely and without limitation for personal, private, non-commercial use, and may be linked to as a source page. All resource page information is based on 30 years of practitioner's experience of Stonecreek Partners' principals, in the retail, entertainment, hotel, residential, and commercial real estate industries.
