Seven Ways To Know If a Sponsorship Is a Good Investment for Your Company

I encourage my clients to network in a variety of places based upon their target market. One suggestion I often give them is to sponsor an event then network with both the attendees and the other sponsors. My friend Jill Bode, with Designed Write PR, is my guest blogger this month. The following article is excellent information if you are looking to create quality visiblity for yourself and your company. Next time someone ask you to sponsor an event take a look at this article and decide if it is a good fit for you and your company.

The typical business is offered opportunities to sponsor various events and organizations. It can be difficult to decide if the proffered sponsorship is good investment and even harder to say “no” to a good cause, but as a businessperson, those types of decisions are paramount if you want to keep the doors open.

Here are seven ways you can identify if a sponsorship is a good fit for your company:

1) Does it put you in front of your key demographic? A sponsorship that puts you in front of a large group of potential prospects, is usually going to be the very best investment of your marketing dollars and will help you achieve that all-important visibility with your market.

2) What does your return on investment have to be in order to make the sponsorship profitable for you? If you need to set appointments with 50 people and the event only has 75 attendees, it may not be a good fit. Unless…

3) Is the event organizer willing to highly recommend your product or services to the attendees? If they are AND they have good credibility, they may help you get to your target and then some.

4) Will you be able to interact and talk to attendees during the event? On-site access is paramount if you are going to be able to create those initial impressions and start the sales process.

5) How many staff/fans/friends will you be able to bring along to the event with you as part of your sponsorship? These folks can be crucial to your success because they can say the great things about you that you could never say about yourself. The more people you can bring as part of your sponsorship, the more valuable it becomes.

6) Does the subject of the event deliver information or ideas that are useful to your company? If you get an opportunity to sell to your target market AND learn something new in the process, this a real home run for you and your business. Be sure to factor the expense of comparable training when figuring out your return on investment.

7) Will you be able to follow up with the event attendees? Is the organization willing to give you access and do you have time to reach out afterwards and convert attendees into customers? The day after the event is frequently when the profitability phase of the event begins, don’t forget to plan for it. After all profitability is the reason that you can stay in business.

Applying these seven criteria to the next sponsorship that is offered to you and your company will help you make profitable choices. And, although I may be biased, I think that the sponsorship opportunity below does a great job of meeting those seven criteria for a large number of companies, especially those who sell to women (and there must be a lot of those companies because 85 percent of all brand purchases are made by women*).

Click here to find out more about this limited sponsorship opportunity.

*figure provided courtesy of She-conomy.com

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