Title sponsorship is the most prestigious type of sponsorship offered by event organizers, where a sponsor provides money, goods, or services in exchange for the exclusive right to have their name appear prominently before the event title. It is negotiated and agreed to hire, and the contract ensures that the sponsor makes the agreed investment.
A title sponsor is a sponsor of an event that provides money, goods, or services in exchange for the exclusive right to have the sponsor’s name appear prominently before the event title. The patron is usually a corporation or other type of business, but it can also be a famous person, a country, a public agency, or any other entity that has the ability to contract sponsorship rights. Title sponsorship is typically the most prestigious type of sponsorship offered by event organizers and requires the most significant investment in the event.
Special events present significant marketing opportunities for any business that wants to promote itself or its products. Featured Events are vehicles for companies to associate their names and products with something that has a certain prestige factor and a captured audience with recognizable demographics. Event organizers take advantage of this natural synergy by packaging opportunities to partner with particular aspects of the event. These affiliate opportunities are called sponsorships.
Sponsorships are marketing opportunities that event organizers sell to raise money. These opportunities are often presented by investment level. Each level of sponsorship requires a certain monetary or other contribution to the event and offers in return exclusive or non-exclusive recognition of company sponsorship. A title sponsor is often the highest level opportunity and provides a company with the exclusive right to have their name appear alongside the event title.
The title sponsor’s name must appear before the event name. For example, a title sponsorship might appear as “XYZ Battle of the Stars.” A Title Sponsor is sometimes also known as a Presenting Sponsor, in which case the event title might appear as “XYZ Presents Battle of the Stars.” In any case, obtaining a title sponsor is one of the most important initial tasks for event organizers because event marketing depends on knowing who to credit in the title. If an event starts its marketing program before a title sponsor is secured, the opportunity loses its appeal to investors.
Title sponsorship is a marketing opportunity that is negotiated and agreed to hire. There is usually a lot of money involved, especially with larger and more prestigious events. The contract ensures that the sponsor makes the agreed investment, even if the check arrives after the event. It also ensures that the sponsor can pull out if the event somehow gets out of hand and the company no longer wants their name associated with it. Since the title sponsor bestows its name and goodwill on the event, and the event often depends on the sponsor’s investment to break even, the contract that defines the rights and obligations is of paramount importance.
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