Ideas for Generating Sponsorship Income
Introduction
Are you looking for unique selling points (USPs) to help you stand out from the competition when attracting sponsorship?
If so, we have some ideas for generating sponsorship opportunities that could help.
Your sponsorship opportunity must have a demonstrable Unique Selling Point (USP). By definition, a USP is a feature or characteristic of a product or service that makes it different from others in the market. In the sponsorship world, your USPs are what make your opportunity attractive to potential sponsors.
Why Is Sponsorship Important?
Sponsorship is often vital for organisations, particularly public and 3rd sector groups, to raise the revenue needed to deliver. Non-commercial organisations are reliant on funding support from patrons, whether public grants or income from private donors. And it is a competitive world!
Sponsorship is important for donors too. Benefits fall into two broad categories.
to achieve a goal within an internal set objective, usually framed as Corporate Social Responsibility. Achieving CSR goals creates a positive feeling for a brand, amongst staff and is a driver for ‘feel good’ press
to create a new route to market via a ‘partnership’, a quid pro quo relationship where the sponsored organisation creates warm leads amongst their audience in return for financial or in-kind support.
When businesses create relationships with others through sponsoring, they gain access to new audiences and resources, while also building trust and credibility within their industry.
Another great benefit of sponsorship for the sponsor is the ability to leverage partnerships and gain access to privileged information. This can help businesses increase their market share, stay competitive, and develop new opportunities.
Finally, sponsorship helps businesses increase their visibility, in turn, increasing their chances of success.
7 Unique Sponsorship Opportunities
What are the most unique sponsorship opportunities? When building a sponsorship package, it is important to consider how you can differentiate your opportunity and offer a tangible benefit to a sponsor that other marketing or CSR spend cannot.
We’ve outlined 7 sponsorship opportunities for organisations to consider when developing a package.
social media campaigns: Developing a special campaign for social media channels can help you reach larger audiences and create more engagement
themed events: Find ways to host unique and exciting events that relate to the values of your sponsor, creating opportunities for them to network
influencer collaborations: Leverage influencer relationships to offer content and media coverage that aligns with the values and vision of your sponsor
subscription services: Create special discounts or ‘money cannot buy’ opportunities to those who sponsor, their staff or their networks
brand ambassadorships: Provide brand ambassadors to work with the sponsor and facilitate positive press
influential figures: Connect the sponsor with well-known figures and industry experts to showcase their brand and add credibility to their services
industry awards: Showcase the sponsor’s products and services at annual industry events, demonstrating their commitment to supporting excellence
Tips for Landing Sponsorships
Now that we’ve discussed 7 unique sponsorship opportunities, let’s discuss tips for landing sponsorships.
First, it’s important to develop a clear understanding of why you need sponsorship and what you hope to gain from it. Consider the target audience, desired goals, and how you want to represent your brand. Understanding these things will help you identify the right sponsors.
Next, create a detailed list of potential sponsors and research their values, needs, goals, and budgets. This will help you determine which sponsors are the best fit for your business. Additionally, make sure to create compelling materials that explain your business, the package of opportunities and show why you are an ideal candidate for sponsorship.
Finally, be persistent in your efforts. Reach out to potential sponsors, attend events, and don’t be afraid to look for unconventional opportunities. Remember, sponsorships are a give-and-take relationship, so don’t be afraid to ask for what you need.
“Sponsorship relationships are about give and take. What’s most important is finding the right partner; a company whose values and objectives align with yours. It is tempting to chase funds, but the best relationships are those with common aims”
How to Measure the Success of Your Sponsorship
Once you’ve landed a sponsor, it’s important to track and measure the success of your sponsorship. Here are some of the key metrics to consider:
REACH: Track the number of people you were able to reach through the sponsorship.
ENGAGEMENT: Monitor the rate of engagement with your content, such as clicks, shares, and comments.
BRAND AWARENESS: Measure the increase in brand awareness and search traffic related to your sponsorship.
SALES: Monitor how successful your sponsorship was at driving sales.
ROI: Calculate the return of your investment and track the financial impact of your sponsorship.
Conclusion
With so many competitors vying for sponsorships, it’s important to get creative and stand out from the competition.
Follow the advice in this article to help develop unique sponsorship opportunities and land impressive deals with potential sponsors.
Be sure to track your progress and measure the success of your sponsorship to maximize your return on investment.
If you’re looking for unique selling points to help you attract sponsors, remember to consider the 7 ideas we’ve outlined in this article.
Good luck!