Sponsorship seems to retain its position as one of the most effective marketing tactics. This is clearly seen by looking at the growing global sponsorship expenditure.
Nowadays, the value of the brand is determined by the loyalty of its customers. The focus has shifted from unidirectional advertising to building meaningful relationships. The main idea to make win-win conception, like in sport, even if you did not get medal today, you have got experience. In every way you win.
How to make sponsor become partner. First of all, start to:
1. Understand the goals
Here are some questions you might want to ask your sponsor to better understand its goals and priorities.
What is your target audience?
What are your specific objectives for this advertising?
How do you measure ROI?
What ROI do you expect to achieve?
2. Have deep, data-driven knowledge of their fanbase;
3. Be flexible to brands' requirements for sponsorship assets;
4. Help partners produce standout content.
In this case you have all opportunities for long-term growing up partnership.