Does sponsorship work

Global mega brands such as Coca Cola and McDonald’s have made a huge investment in sponsorship of the Olympics and recent research has shown that they are already benefiting from ‘substantially stronger brand image and purchase intent’.

But if you don’t have mega bucks and you’re not an established brand, how do you make sponsorship work for you?

Here is our five-step process to help you decide what to sponsor and how to get the most from your investment:

1. Define the sponsorship objectives: e.g. raise awareness of the brand; build an image; promote a new product; demonstrate your corporate social responsibility.
2. Agree the strategy: how does the sponsorship fit in with any other marketing activity and your business objectives?
3. Define the target audience and the best way to reach them.
4. Develop the tactics: agree the details of what to sponsor – sport, arts, education, business event – agree a budget and make sure the timescales work for you.
5. Consider what resources are needed to make the sponsorship a success including additional PR and marketing, impact on staff time and corporate hospitality opportunities.

So whether you sponsor the local roundabout or community football team, leading trade event or national TV show, follow our process and you too will reap the rewards.