Does your business receive numerous sponsorship requests from community organizations? The right sponsorship opportunity presents more than a chance for your company to be involved in ‘do good’ efforts. There is a strong business case for connecting with and supporting the communities that support your business.
Sponsoring a cause or event that aligns with your company’s commitments or mission strengthens your brand promise. Sponsorships can provide wide visibility with target consumers and decision-makers. They can help your company garner media coverage. And they can present opportunities for your employees to engage with the community in meaningful ways.
Here are five questions we recommend decision-makers keep in mind when considering sponsorship opportunities.
1) Does the organization’s mission align with the commitments of your company?
Supporting a cause or organization that has nothing to do with your company’s mission is not the way to go. Look to your company values and initiatives to guide your selections. Is your company committed to fostering the skills of the next generation in your industry? Is your company committed to a healthy community? These types of commitments can be your guides.
2) Do you have a clear idea of your company’s financial and time commitments if you become a sponsor?
Will you need to provide on-site staff for an event? Does your staff have the bandwidth and management support to be involved? Ensure expectations are established up front. The last thing you want is an unexpected obligation you have not planned for. Read contracts carefully.
3) What is the reach of the sponsorship?
Include online exposure, on-site presence and post-event coverage in your calculations.
4) Are the sponsorship coordinators organized and responsive?
You may spend a lot of time coordinating with contacts from the organization you’re sponsoring. This involvement makes their professionalism and personality important. Can you see yourself working smoothly with their team? Are they upfront with expectations, planning needs and deadlines? Do they answer your questions in a timely manner?
5) Is the commitment equitable with the expected ROI?
Good investments are critical. Make sure you can justify any staff time and use of company resources for sponsorship projects because of strong ROI data points that may be measured at the conclusion of the sponsorship.
CFM’s marketing public relations team can help companies vet these opportunities and identify community engagement activities that speak to mission-driven and business concerns.
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