Top 5 Ways To Uncover If You Can Get Sponsorship
31st July, 2017
Slingshot was launched with the ambition to help organisations uncover revenue that they weren’t capitalising on. More often than not, it meant absolutely no change in the way things were currently done. No additional investment, no additional resource. Just free money. And who doesn’t love free money?
But mining for free money is the key to what makes us different. Unlike our competitors who mine for oil through guesswork, we have a strategic framework which allows us to ensure that targets can be met and understanding how strategic investment into certain areas of the business can be more beneficial (through sponsorship) than others.
There are some key things to consider when trying to understand if you are missing out on sponsorship investment:
- Your competitors make more in sponsorship than you do. By reviewing the competitive landscape, you can start to understand the potential. If Coca-Cola sponsors every one of your competitors, but not you, you are obviously missing a trick. This research can be done through a simple Google search and will start to identify whether there are sponsorship dollars you are missing out on. The caveat: not all sponsors are cash sponsors, so beware of this as this might be misleading, but common sense should point you in the right direction. It’s also worth mentioning, that just because your competitors don’t have sponsors, doesn’t mean you can’t generate sponsorship revenue.
- You have an audience. An audience is a fickle thing and is wholly dependent on whether your audience is B2B or B2C as to understanding if you are missing out on sponsorship revenue. If your B2C audience is less than 100,000 then unfortunately it’s not going to make you millions; however, we’ve secured millions of pounds in sponsorship revenue for events with less than 100 people.
- You are unique. Although this is similar to your audience, the uniqueness is critical – the more unique you are, the higher value your audience becomes. Again, if you the only person in the world who can balance a pen on your nose and no one cares, this is not a sponsorship platform. But if you have a blog that speaks to young women who just bought a pug, then there is money in that.
- You currently generate advertising revenue and/or selling tickets. The fact you are making money through other means outlines that what you are doing is of interest, and more often than not, if it’s of interest, there is sponsorship value behind this.
- You have regular engagement. It is easier to justify sponsorship when you have multiple touchpoints for a sponsor to speak to your audience. So even though you might have an annual event, you have a high open rate with your weekly blog. These are the kinds of assets that help justify a sponsorship spend and create value for your sponsors.
We receive over 10 calls each week from events, charities, start-ups and sports teams enquiring whether they can generate more sponsorship (or new sponsorship) and almost 99% of the time we speak to them the answer is yes. To find out how we’ve helped our clients succeed, I’d encourage you to read some of our rights holder case studies outlining how quickly we’ve increased their bottom line. Then give us a call!