Top 4 Tips On Uncovering Sponsorship Assets
Time and time again we see rights holders only offering some of their assets to a potential sponsor, rather than all of them. This is predominantly a logo placed in a high footfall area, or where they receive the most traffic on their website. Yes, these are important to a sponsor, but it is crucially important to ensure all potential assets are offered to sponsors.
Imagine a store that only sells the items in the first aisle and not the rest of the shop. This will reduce the potential revenue the store can generate, and narrow the potential of a customer purchasing more products from the other aisles. This is the same for sponsorship.
The problem with only offering some of the potential assets to a sponsor, or even just the main one, is that it is impossible to know exactly what a brand wants to utilise in sponsorship, particularly when approaching cold. The chances of understanding what a sponsor wants can, and should, be increased with research, but this must be done regularly. Every time a new approach is made research must be carried out to understand a brands strategic direction.
It is difficult to uncover all possible assets without previous sponsorship knowledge and whilst you are immersed in your day to day tasks. Below, are 4 quick tips to uncovering all possible assets:
- Get in the brands mindset – Figure out exactly why a brand would want to be a sponsor and specifically, what you can offer them that they simply can’t access without you.
- Brainstorming with colleagues – Don’t try to do this on your own, the more minds the better. As with any ideas session, everyone thinks differently which is needed to uncover the assets outside of the norm (NOT JUST LOGO PLACEMENT!)
- Travel the customer journey – Sponsors want access to your audience. So, travelling through the customer journey and understanding all possible touch points a sponsor can utilise to engage with your audience will provide multiple key assets.
- Check out the competition – Finally, get hold of your competitor’s sponsorship proposals and see what they are offering. It might spark a new idea or show you ways to improve your platform for sponsors.
When all assets have been uncovered, it then becomes about ensuring that these are effectively and aesthetically communicated in the best way possible to potential sponsors, as well as priced correctly.