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.
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.