When should I think about Sponsorship for an Event? 3 Ways to Maximise your chance of Securing Event Sponsors 29th May, 2018

It is the stamp of a successful event to be able to successfully attract sponsorship from brands, therefore enabling it to grow and fulfill its maximum potential.

It’s therefore unsurprising that the question most often asked by organisers is when best to approach potential sponsors for their event.

Many organisers regularly fall into the trap of leaving it too late for brand involvement and miss a golden opportunity to subsidise and support their event, as well as dramatically increasing exposure to appropriate audiences.

The Slingshot Sponsorship team are on a mission to ensure this doesn’t happen to you. So here are our top three tips to maximising your chance of securing sponsors when organising an event…

1) Think sponsorship from the start

A successful sponsorship involves ways in which a brand can be interwoven throughout all aspects of the event – so engage sponsors through the entire process.

From initial communications and marketing, right through to ticket sales and the event itself, all stages are valuable assets that sponsors can utilise and you can monetise. Through connecting with sponsors in the planning stage you can create your event with bespoke brand opportunities for each sponsor, and activate them properly, given that you have the time to do so.

Bringing on a new sponsor late in the game can often seem rushed and doesn’t leave a sponsor feeling like they got the most out of their investment.

Key takeaway: The sooner you sign a sponsor, the more they can integrate with your event – and the more they will pay for it.

2) Don’t just approach any brand you can think of

When approaching sponsors for your event, it’s vital to stop and think. Why this particular brand? Can they add value to my event? Can they provide relevant products? Even more importantly, what can I offer them that they can’t get anywhere else?

You must be able to justify why your event will benefit their brand because at the end of the day, sponsorship is not charity – it’s a partnership. So don’t just approach any brand you may have contacts with.

The key is to approach brands that will resonate with your event’s audience, as corporate sponsorship is essentially a form of advertising for the brand. So you need to be able to show how the brand can not only reap the benefits at the point of sale, but also throughout the event lifecycle and beyond. This will help ensure they renew and upgrade on investment, continuing their support for years to come as you grow your event.

Key takeaway: Focusing on the most relevant sponsorship brands to your audience is vital in ensuring a successful partnership throughout the entire event experience and beyond.

3) Don’t pull a price out of thin air

One of the most common mistakes organisers make when approaching sponsors is simply not valuing their assets properly.

Knowing the true value of what you are offering a sponsor is crucial because no brand will pay for something they don’t believe they will get a return on. This is doubly important once you recognise that the brands you approach see sponsorship proposals every day and they’ll be able to tell if your offering is worth the investment you are asking for.

It’s important to think practically and logically when it comes to event sponsorship. For example, if you need £100,000 for your event but you only have £25,000 worth of sponsor assets, you wouldn’t just suddenly charge them £100,000. Instead, you could find another three sponsors willing to pay another £25,000, thus spreading out value to cover the event’s costs. Think about it: would you pay four times the price of anything for the sake of it? Of course you wouldn’t – so you shouldn’t expect your sponsor to do so either!

Key takeaway: It’s a common mistake to scare sponsors away by overcharging them to cover costs. Instead, work to spread out sponsorship values evenly to cover costs.

We hope these three tips ensure you never let an event sponsorship opportunity pass you by in future. It always helps to put yourself in the brand’s shoes and make sure you feel as if they’re being offered strong, relevant exposure to a suitable audience throughout an event’s lifecycle at a price that’s honest and provides real value. This is the secret to maximising your chance of securing sponsors for your event.

Interested in learning more about how to get the most success in sponsorship? Follow our social media accounts for regular updates:

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Our Top 4 Tips for Uncovering Sponsorship Assets 11th July, 2018

Over the years we have helped countless rights holders and sponsors come together effectively to great mutual benefit. However, that road isn’t always as smooth as it should be – particularly when it comes to sponsorship assets.

There have been many instances where we have witnessed rights holders only offering basic assets to potential sponsors, as opposed to its full armoury of options. Most commonly this translates into a focus around a logo and whilst this still does hold importance to a would-be sponsor, to get real value out of a partnership it is crucially important to ensure all potential assets are made available.

Allow us to put this into context for you. Imagine a fully-stocked supermarket that only sells items in the very first aisle to customers and blocks off the rest of the store. This will inevitably reduce the supermarket’s revenue and narrow the customer’s shopping potential. The same logic applies in the world of sponsorship.

The major problem with only offering some of the potential assets to a sponsor is that it’s impossible to know exactly what a brand requires to make the most of their sponsorship when reaching out before qualifying the lead.

As you may imagine, the chances of understanding exactly what a sponsor desires is increased simply by doing your homework and regular research, but there is still no better way to truly understand a brand’s approach than by speaking with them directly.

However, it is admittedly difficult to uncover all possible assets without previous sponsorship knowledge when you’re fully immersed in your own day-to-day tasks. So Slingshot is here to help with our top four quick tips for uncovering sponsorship assets…

1) Get into the brand’s mindset
Figure out exactly why a brand would want to be a sponsor and work out what you can specifically offer them that they’d simply be unable to get elsewhere.

2) Brainstorm with colleagues
Never tackle this sponsorship conundrum on your own! The more minds the better because, as with any ideas session, everyone thinks differently – which can be key to thinking outside of the box and uncovering assets which aren’t just a bog standard logo placement.

3) Travel the customer journey
Remember that sponsors ultimately want access to your audience. So travelling through the customer journey and understanding all possible touchpoints a sponsor can utilise to engage with your audience will showcase multiple key assets.

4) Check out the competition
Last but not least, try and get hold of your competitor’s sponsorship proposals to see what they are offering and how it differs to you. It may just spark a new idea or illustrate ways for you to improve your own platform for sponsors both now and in the future.

Case Study: Outlook Festival Knowledge Area

Back in 2015, we utilised our expertise of uncovering sponsorship assets to continue pushing the boundaries of the traditional festival model. We created something which added to the consumer experience and attracted brand integration at the Outlook Festival.

Named the Knowledge Arena, it was here we created workshops led by artists where guests could create their own music at the festival. This forward-thinking rights holder maintained focus on the consumer, leading to greater engagement and sparking brands’ interest in being involved with connecting to the audience in a deeper, more meaningful way.

Key takeaways

Any rights holders looking for sponsorship must think strategically before approaching a brand. Think carefully about the plethora of assets you can offer, particularly ones which resonate with certain target brands.

Once all assets have been uncovered, the goal then becomes ensuring these are effectively and aesthetically communicated in the best way possible to potential sponsors – and at the right price.


Support the Startups Supporting You 16th November, 2016

Investing in innovation and entrepreneurship is necessary for any business to not only grow and evolve, but ultimately to survive. Becoming complacent and ignoring advances in your field can leave you left in the wake of competitors that mould themselves to adapt with changes in technology.

Given that it is not always possible to rely on your internal team for innovation many companies are recognising the need to invest in startups with new and fresh ideas. Not only does this foster creativity and innovation under their brand but it also is a way to stay ahead of the curve when it comes to advances in their industry.

One company that has seen the need to foster talent early is Nestlé who have developed their own platform to actively invest in startups. Nestlé HENRi was created with the objectives to enhance quality of life, contribute to a healthier future, tackle global issues and make genuine positive effects for millions across the world. Not only is this socially constructive for Nestlé’s brand but it also has proven benefits for sales and engagement with Nestlé products.

For example, through partnering with the startup Blippar, Nestlé have since been able to unlock new levels of engagement with their customers for both Milo & Nesquik products in an untested AR territory. Without opening themselves up to external ideas and investing in start-ups, this would not have been possible.

It’s not too late!

For companies that do not have the resources to set up projects of this scale, there are alternative ways to invest in start-ups & innovation. Slingshot is currently working with Extreme Tech Challenge (XTC), the world’s largest startup competition supported by Sir Richard BransonBill Tai (Twitter) and Jim Breyer (Facebook). XTC gives brands an opportunity to sit beside some of the world’s most influential business leaders, while ensuring that they are the first to have access to all new ideas & technology that this competition uncovers.

XTC gives brands the chance to integrate their entire suite of services throughout key events at the XTC Semi-Finals held at the Consumer Electronics Show in Las Vegas in January reaching over 170,000 tech savvy enthusiasts, and the XTC Finals taking place on Necker Island in February 2017.

Anchor judge of the program, Sir Richard Branson, sees the event as an opportunity to uncover untapped ideas and technology, “we are hunting for people and ideas that can literally change the world!”

Sponsor involvement is still available for the 2016/2017 XTC program. Sponsoring enables your businesses to align to a category specific to your industry, not only allowing your business to judge the entrants but also positioning you as an influencer among the best in global business. If you’d like to hear more information about partnership opportunities we have available, please contact Hayley Williams at [email protected].

 


It’s Not Who You Know 25th July, 2016

Far too many of our new business meetings focus purely on who Slingshot knows at Board level with brands. Undeniably, we know a lot. But that’s our business – it’d be like if McDonalds didn’t know what types of condiments to use for their hamburgers. It would be ludicrous if after 6 years of selling sponsorship rights to global brands, we didn’t make a friend or two along the way.

Unfortunately, almost all sponsorship sales agencies use this angle in their pitches – providing a false sense of security, to the potential new client, that sponsorship sales is all about speaking to the right person. This couldn’t be farther from the truth.

In my 15 years of selling “stuff”, it’s almost never about who you know. Bad salespeople focus on this in a new business pitch because it’s easy. Rather than take time to review the boring strategic processes that underlie sponsorship sales, it’s easier to provide wow factor by name dropping. This masks the fact that the challenge of selling sponsorship actually is controllable by a rights holder and can be fixed without hiring a specialist sponsorship sales agency, and no one really wants that do they?

Slingshot’s approach is never about the black book, which many think is unconventional and also means we lose a lot of pitches to those that guarantee sponsors and often unachievable revenue targets. The smoke and mirrors sales pitch champion who they know, but if you are struggling to maximise your full sponsorship potential it’s not because of your sales people, your property or your access to LinkedIn – it’s your commercial strategy.

Without a commercial strategy that understands what assets you have, what assets brands require to drive ROI, your fair market value and a pretty spectacular proposal – you honestly don’t really have a chance. I am pretty good friends with a lot of big brand buyers, but even I can’t flog something without the above. Gone are Chairman’s Whim days, but it means you have got to start thinking about your proposition if you are going to invest time and resource into selling sponsorship.


Jackie Fast re-elected to the board of European Sponsorship Association 11th July, 2016

The European Sponsorship Association (ESA) announced last week that Jackie Fast, MD and Founder of Slingshot Sponsorship has been re-elected to the board for her second tenure.

ESA is the membership body which represents sponsorship professionals across Europe.

Jackie Fast was originally elected to the ESA board in 2013 and has been re-elected to the 15-strong board alongside Toby Hester from Sponsorship Coach who was also re-elected.

New members on the board were announced as Matthew Leopold from British Gas, Sophie Morris from Millharbour Marketing and Matt Stevenson from EE.
It was also announced that three current members are stepping down, they are Rob Mitchell of Wasps/Ricoh Arena, Gary Carey of Diageo and Helen Lamb of ESA.

The remit of the ESA board is to develop a strategy to ensure that the Association remains in the best position to represent the industry and to provide its members with valuable and usable benefits.

Jackie Fast will continue to develop The ESA Excellence Awards which are growing year on year and are widely regarded as the highest example of sponsorship achievement across all industry disciplines.

Jackie commented, “I’m pleased to have been re-elected to the board of the European Sponsorship Association where great work is being done to promote and celebrate the fabulous campaigns being run within our industry through the Excellence Awards. I am keen to continue to work with ESA on strategy to ensure that we are representing the interests of the industry as a whole and continuing to grow the best practice sponsorship throughout Europe.”


Muscular Dystrophy UK appoints Slingshot Sponsorship to drive commercial strategy 5th April, 2016

Slingshot Sponsorship today announce their new client, Muscular Dystrophy UK. Slingshot has been selected by the charity to help drive new commercial relationships and a long term strategy.

Muscular Dystrophy UK, founded in 1959, supports and helps bring together people affected by more than 60 rare and very rare progressive muscle-weakening and wasting conditions.

Rebecca Day, Director of Development for Muscular Dystrophy UK says:

“For Muscular Dystrophy UK, research is at a critical stage requiring a real acceleration in investment; along with all we want to accomplish in providing ongoing support for families living with these devastating muscle-wasting conditions.  Wholly reliant on voluntary income, we are keen to take a thorough and proactive approach to identify and maximize the potential of commercial partnerships to meet our goals. Slingshot responded to our brief with a perfect blend of energy and passion for the project, coupled with evident and demonstrable expertise. We are extremely excited to see what we can achieve by working together.”

Jackie Fast, MD of Slingshot Sponsorship said of the new partnership, “We’re delighted to be working with such a well-renowned British charity to help them make the most of the commercial benefit to their research and income streams.”

 


Monster Energy Partners With Outlook Festival 2013 24th July, 2013

Monster Energy has partnered with Outlook as the festival’s ‘Official Energy Partner’. With Monster launching in Outlook’s homeland (Croatia) this Summer, the US energy drink has incorporated the bass-music festival into its portfolio of live music events to launch a number of regional and international activations. This will include on-pack promotions and online competitions in the build-up to the event across 12 international markets; sampling at the four-day festival itself; and exclusive video content to be released once the festival finishes in September.

Mark Mylam, Account Manager for Outlook & Dimensions Festivals at Slingshot, commented:

We’re delighted  that Monster has teamed up with Outlook Festival 2013. The heavy, ‘live-fast’ attitude the Monster brand represents ties-in perfectly with Outlook’s young and passionate demographic, paving the way for some really unique activation over the next three months. The fact that Outlook is Monster’s sole music property as it launches in Croatia, illustrates how highly regarded the festival is regionally, while the global competitions  being run through Monster’s Facebook page show its global appeal.

We can’t wait to see the Monster  team along the Adriatic Coast in September!

This deal was brokered by Slingshot Sponsorship.


App-led Sponsorship 23rd June, 2014

On Wednesday, Facebook embarked upon its latest attempt to corner the social media market with the launch of the aptly named Slingshot app.  To many, the launch was a response to Facebook’s failed bid for rival and burgeoning app Snapchat – an instant messaging app for sharing photos and videos with friends.

As of May of this year, users were sending up to 700 million photos and videos per day, while Snapchat Stories content was being viewed 50 million times per day.  The recent surge in apps such as these has engendered new opportunities for sponsors to develop more creative and diverse social media strategies. Yet despite the overwhelming usage of apps such as Snapchat, the platform is still relatively untouched by brands – as such, here is an overview of recent campaigns using these platforms.

Diet Coke & Taylor Swift

Last year, Diet Coke used the app as part of its sponsorship of Taylor Swift’s Red Tour. People who subscribed to Diet Coke’s virtual scavenger hunt received one picture a day for five days. Each picture revealed clues regarding location of that day’s item and those who collected all five items won a free concert ticket. Due to the success of this campaign, Swift was able to directly engage with Swift’s audience on a global scale.

Heineken & Coachella

More recently Heineken, through their sponsorship of the Coachella Valley Music and Arts Festival, created a Snapchat account called HeinekenSnapWho. Users received clues throughout the weekend about who would be performing and those who responded with the correct answer would get an early confirmation from Heineken.

Both of these activations demonstrate the extensive opportunity available for brands to generate their own content through these apps.  Furthermore, over two thirds of Snapchat’s 60 million users are mostly under the age of 25 meaning that Snapchat offers access to a very young demographic. This explains why Audi, through their sponsorship of Pretty Little Liars, have been Snapchatting exclusive content to users as it allows them to integrate their brand with their target demographic.

Vine

Of course, Snapchat isn’t the only app out there offering a platform for brands to get creative. Twitter’s video sharing service, Vine, has also attracted a number of sponsors due to the fact that the prerequisite of any viral video on Vine is creativity. In an article on digitaltrends.com, Meagan Cignoli, a Vine creator with over 300,000 followers, says that she is regularly courted by sponsors. Previous sponsorship deals having been agreed with Nike, Lowes and Rite Aid, allowing both the sponsors more social media coverage whilst she’s been able to extend the reach and authority of her own name by attaching herself to these brands. Therefore a ‘symbiotic relationship was created between a viral-hungry sponsor and Vine content creator’.

Vine has approximately 40 million users, 20 million less than Snapchat, however what they both share is a requirement for sponsors to be creative with their strategies. It is through apps such as these that sponsorship becomes so much more than just about the logo with more emphasis placed on integration, user generation and brand led content.


A Week At Slingshot 17th October, 2013

We get up to a lot at the Slingshot offices, so we thought we’d give a bit of insight into our daily goings on.  Our very own Jamie Dey willingly offered his services. Having joined the team four months ago, Jamie has a fresh take on Slingshot’s agency life; so here’s a week with Jamie.

Monday

Having spent the weekend in Cornwall which was subsequently followed by the mandatory slog along the A303 late into the night, Monday started with a coffee firmly by my side.  It doesn’t take long, however, until I’m off and going with a diary update to see what lies ahead.

With the cobwebs swiftly shaken, the first task is a catch up with the Slingshot team, which gives everyone the chance to catch up with one another’s business – more often than not this turns into an open forum with everyone contributing on strategy and areas in which campaigns can be improved upon (very ambitious for a Monday morning, indeed!).

The rest of day is filled with analyzing new business requests, and looking at what future projects we can get involved in. Each proposal is sent around the team, we offer advice on every inquiry no matter how big or small, it’s important to feedback on every request as you never know what it can lead to.

Tuesday

The day starts briskly by jumping straight into talking with brands that are looking to sponsor the What Car awards? The awards themselves have been a real success over the past two years, and the platform has developed considerably, making it a great account to work on.

Brainstorming possible activations for brands gets the blood pumping and definitely an area of the job I enjoy, this takes up the day and with progress made, the week is looking good.  It’s great to see new clients coming on board and the process which is involved from inception – the run up to Christmas looks busy!

Wednesday

Wednesday is dedicated to on-site duties for Silverpop at the Festival of Marketing, this is a chance to get out of the office and see how our work is doing in practice.

Our work with Silverpop as a B2B brand keeps me on my toes as it goes away from our usual consumer focussed platforms. This broad range of experience has really helped me look at each account with an open mind; this is one of Slingshots strong points and has made the agency dynamic in its approach within the industry.

Thursday

Hump day is gone and it’s the back part of the week – that said, the day is spent sitting in on one of Slingshot’s key services, the sponsorship Bootcamp.  The Bootcamp is a one or two day service which aims to provide organisations with an insight into the sponsorship industry with a focus upon developing sponsorship proposals and approaching and securing sponsorship.

Today’s Bootcamp is tailored around an international TV show, which I worked directly on alongside our MD Jackie Fast.  Presented by Jackie, the Bootcamp seeks to give insight but most importantly to spark inspiration and discussion, which it looks as though we’ve done!  The month’s work prior to today has been demanding, but it’s great to see my strategy warmly received and to know that there is a high chance of it being implemented.

Friday

The morning is spent going through sales and prospecting for Digital Unite and their Spring Online event next year. This has proved a real success over the past 18 months and a fantastic example of a well engaged campaign that is making a significant difference across the nation.

The Friday ritual starts early with Tina Turner howling from the office speakers, giving us all the motivation to finish off our weekly progress reports in time to make a dash to the pub.