Understanding the motivations of sponsorship buyers is key to successful sales. Sponsors have different motivations than advertisers, so sales materials should be tailored accordingly. It’s important to determine the best person to approach for sponsorship sales and to offer multiple touch points to sponsors. Selling sponsorships in-house or outsourcing should also be considered.
Successful sponsorship sales begin with understanding the motivations of sponsorship buyers. This understanding provides the foundation for devising effective marketing tactics directed at specific prospects. It is also important to decide who will sell the sponsorships and what sales strategy will be used to market those opportunities.
The first tip is to recognize that sponsors don’t necessarily have the same motivations as advertisers. In addition to the obvious benefits of indirect marketing and promotion, sponsors can also take advantage of sponsorship opportunities to seek goodwill, thank fans, or as a way to further a community cause. Sponsorship sales materials should be crafted with every possible motivation in mind. These sponsorship sales materials must detail specific benefits for the sponsor.
The next tip is to determine which specific individual is the best person to approach for sponsorship sales. Often this information is available on a potential client’s website, or the local news of sponsored events can also provide clues as to who is the best person to contact. Getting closer to the real decision maker increases the chances of closing the sale. Another tip is to guess what the sponsor’s specific goals might be in sponsoring a particular event by researching this on the internet.
Accurately determining the perceived value of the sponsorship opportunity for a particular prospect increases the likelihood of closing a sale. For example, a car dealership may see sponsoring a high school baseball team as a good return on investment. Selling a car to a high school graduate can start a relationship that lasts many years, resulting in multiple car purchases. This sponsor may be more willing to sign up for a long-term sponsorship, because he has a long-term investment strategy in promotions.
Offering multiple touch points to a sponsor can be a very effective strategy. This means giving the sponsor opportunities to connect with the participants in countless ways. One scenario might be to offer the sponsor an opportunity to speak for five minutes, have a table or table, and distribute literature. Some sponsor packages include messages about the sponsor sent via event email notifications or posted on the event website. Each exhibition is a contact point.
When selling sponsorships, it is important to assess whether the sponsorships should be sold in-house or outsourced. Expecting volunteers to meet event sponsorship sales targets is generally unrealistic. Employees often have full-time duties and may resent the added burden of selling sponsorships.
Smart Asset.
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