Your Guide to Corporate Sponsorship: Packages, Levels, and More
- April 5, 2024
- SponsorPulse Staff
In today’s marketing landscape, corporate sponsorships stand as a formidable strategy, capable of driving significant attitudinal and behavioral changes among consumers.
If you’re reading this, chances are that you’re looking to tap into your sponsorship marketing potential. Stick around as we explore the burgeoning state of the industry and provide a game plan for building sponsorship packages that meet the nuanced needs of the modern market.
Sponsorship Industry Pulsecheck
The sponsorship marketing industry is on a robust growth trajectory, with projections forecasting a valuation swell to $260B by 2032! This impressive expansion is rooted in the undeniable effectiveness of sponsorships in enhancing brand awareness and driving customer engagement. Among US residents aged 13-64, 27% agree that sponsorships increase brand awareness, 14% note that they drive purchase consideration, and 11% believe they view the brand as a better corporate citizen as a result of effective sponsorship marketing. That’s nothing to shrug at!
But where is this unprecedented growth stemming from? Recent years have witnessed various tailwinds accelerating industry maturation. From the globalization of sport and increased women's sports exposure, to the rise of influencer marketing and NIL rights, to the evolving content distribution formats that have expanded the reach of sponsorship as a whole—current market conditions have bred the perfect storm for a sponsorship gold rush.
5 Questions to Build Effective Sponsorship Tiers
Fact: 69% of sponsorship professionals struggle to prove sponsorship value. Furthermore, 59% agree that there’s a lack of trust between buyers and sellers. In order to bridge that gap, it’s never been more important to leverage insights to demonstrate your value. By creating strong sponsorship packages rooted in data, you can set benchmarks and ensure shared objectives from the jump.
Here are 5 questions to help formulate effective sponsorship levels:
1. How Strong is Your Offering?
Sponsorship professionals: Know thyself. When formulating sponsorship levels, understanding your market position is crucial. Whether you’re a legacy that’s been around for decades or brand-new on the scene, it’s important to size your reach and potential for impact relative to other opportunities in the market. SponsorPulse enables you to leverage relevant consumer insights to give you a clear picture of where you fit in the market, so you can proceed accordingly.
2. What Assets do you have Available?
What can you offer to potential sponsors? Get granular by identifying your assets across media, events, content, production and hospitality to paint a clear picture of where brands can connect with your audience. Are there select marquee assets, such as naming rights or title sponsorships, that you can offer to sweeten the deal? If you’re unsure of where to start, tools like PandoPartner can help you build out and categorize your inventory.
3. How many Partners can you Deliver Value to?
Once your assets and inventory are mapped out, it’s time to strategize on the optimal number of partners you’d like to do business with and get specific on what they’ll each have access to. Who will hold the major cards (think: marquee assets), and what will your smaller-scale partners receive? By strategizing partner tiers now, you ensure a balanced value exchange later.
4. What are your Assets Worth?
Placing value on sponsorship assets is a complex task, with no clear industry standard. Leverage tools like Relo Metrics for a fact-based approach to asset valuation. Trust us, it’ll boost your pitch credibility.
5. What are your Thresholds for Going to Market?
With a defined inventory, partner strategy, and asset valuation, it’s time to set spend thresholds for each tier and prepare to engage the market. That’s where we come in. At SponsorPulse, our robust database does the heavy lifting, helping you craft compelling narratives for potential partners with the rationale to back them up.
Craft the Perfect Package with SponsorPulse
Navigating the evolving landscape of corporate sponsorships requires a nuanced understanding of market trends, a clear assessment of your assets, and a strategic approach to partner engagement.
By leveraging SponsorPulse industry insights and tailoring your sponsorship packages to meet the needs of a diverse partner ecosystem, you’ll unlock your full potential to drive meaningful engagement. Create your free SponsorPulse account today to get started!
