Many organizations view their corporate sponsorship programs as a static set of “benefits,” usually very low-level stuff, that they might update once a year.
A better way to regard your corporate sponsorship program is as a renewable resource, a constant source of ideas, innovation, visibility and, ultimately, revenue.
Four Sources for Sponsorship Innovation
Four sources fuel your ability to innovate your sponsorship program.
Current offerings. Your sponsorship opportunity — event, program, initiative, etc. — has inherent value and offerings presently, plus new easy-to-develop ideas you could offer now.
- Future offerings. Your organization has ideas for the future — ways that you’ll expand your event or initiative, plans to build your audiences and enhance visibility. Add these assets to the mix, and they provide new opportunities for existing sponsors and even new industry categories.
- Sponsor ideas. Your sponsors and prospects bring to your discussions ideas of their own. These ideas have either worked for them in the past, represent their current sponsorship priorities, or reflect needs and objectives that, when combined with your opportunity, generate new ideas that can be executed now.
- Sponsor’s future opportunities. Corporations are looking into the future, planning expansions, new strategies, new products/services, and new marketing strategies. These future needs will drive ideas that your leadership must help cultivate and co-mingle with your present and future offerings.
Your sponsorship team must juggle the present, the near future, and the distant future, paying attention to your organization and your sponsors’.
If your sponsorship offerings feel stale and static, explore these time horizons for your own and your sponsors’ business and marketing objectives. You’ll find new value, new revenue opportunities, and keep things fresh.