Sponsorships seem to have become a part of our consumer culture. You can’t watch or attend a big sports event, for example, without being exposed to the event’s sponsors. On a smaller scale, local communities and organizations also depend on sponsorships to make ends meet at some of their events. In most cases, the dollar amounts for sponsoring events of this sort are modest–ranging from a few hundred to a few thousand dollars.
How many times have you been asked to be a sponsor? How many times have you offered to sponsor a select event in order to help out someone in your network? Both situations have the potential to give you huge exposure if done well. In addition, sponsoring an event for someone on your word-of-mouth marketing team enhances the relationship, because you are helping that person meet a goal.
Be selective and choose carefully when you’re thinking about sponsoring an event. Is it a good investment of your time and money? The questions below will help you determine the value of a sponsorship before deciding to become a sponsor:
* What is the target market for this event?
* What kind of exposure do I get for my investment?
* Can I get this kind of exposure without this investment?
* Do I get direct access to the audience?
* Does it make sense for me to be there?
* Which business or networking goal does it help me complete?
* Are other sponsors my competitors?
* How does this enhance my credibility with the person I’m helping?
* Why wouldn’t I do it?
What do you look for when you are considering sponsoring an event?