Sponsorship can be a scary word, right? For many people it conjures up thoughts of huge budgets, minimal return on investment, and difficulty in putting a real value on its success. Given the current global situation, sponsorship has perhaps become an even scarier word in the eyes of many with decreasing budgets and uncertainty around the future of many sponsorship properties.
The great thing is that there is no need to be scared, and the first step in removing any concern is by replacing the word ‘sponsorship’ with the word ‘partnership’, because ultimately that is what any great sponsorship should be. The best partnerships are those that are mutually beneficial and those where rightsholder and brand are actively seeking to work together to achieve their objectives.
It’s old-fashioned to think of sponsorships as two exclusive entities fighting their corners to achieve a fair deal and then once attained, going back into their corners to work separately. Sponsorships should be about rightsholders and brands working together on every aspect of the partnership, from negotiating the right deal through to successful activation, and from helping to build and tell the correct story through to both contributing in the evaluation of the sponsorship effectiveness.
Positive partnerships are there to create win-win-win scenarios, whereby the rightsholder, the brand and the audience all gain from the coming together of these entities. Engaged together in the same common goal, all the best partnerships in the world are built on trust, transparency and longevity.
At times of crisis or uncertainty (as we’re currently facing), cautious brands tend to shy away from unchartered waters, but those with more ambition have seen that the power of a partnership is never more relevant or potent than at times like these. However choppy the waters appear, a powerful partnership can steady the ship and help you steer a calmer course to your business goals.
sponsorships partnerships needn’t be so scary after all….
Whether you’re new to sponsorship, or want to reimagine your current strategy, feel free to contact us for a friendly chat.