Sponsorship Sales Tips: Preparing For Pent-up Demand
Posted: 7/30/2009 10:28:31 AM by
William Chipps | with 0 comments
While sponsorship deal-making usually grinds to a halt during the dog days of summer—a situation that’s been exacerbated this year as a result of the economy—some veteran sellers are starting to see signs of looser budgets and more deals in 4Q ’09 and beyond.
While that’s good news for the sponsorship industry, properties need to be more strategic than ever to capture those dollars.
I recently spoke with Cary Chevat, president of sponsorship sales agency Sponsorship Resources, who shared some tips for securing deals during the 4Q decision-making time period.
One key takeaway: Properties that swap that trip to the beach for a few extra cold calls stand the best chance of securing new partners. Sponsorship is in many ways a numbers game, and those that put in that extra effort have the best chance of gaining new sponsors.
Below, Chevat shares five other tips for securing sponsors in today’s challenging sales environment.
- Network, network, network. While CMOs, marketing vps and other corporate decision-makers have kept new spending to a minimum, the economy has made them more accessible than ever. As a result, properties should do all they can to network with sponsorship decision-makers and gatekeepers, with the goal of building relations and planting seeds for future partnerships.
- Submit proposals by Labor Day. Companies will begin to evaluate ’09 sponsorship opportunities by the end of the third quarter, so properties need to act fast and get proposals out there. Properties that are first in line have a better chance of securing corporate dollars, assuming the opportunity matches up the prospect’s target audience and marketing objectives.
- Offer creative packages. While sponsors are gearing up for more deals, chances are they’ll only be interested in creative, breakthrough packages that attract attention and lift their brands above the marketing clutter.
Sponsors may also be interested in new types of properties, added Chevat, noting that companies that once sponsored sports may be interested in nonprofits, entertainment and other types of lifestyle events.
- Know your audience demographics. While most properties say they understand their audiences (age, HHI, etc.), many miss the boat by selling their events, not their audience. Properties have a better chance of making a sale by playing up experiential platforms with consumer touchpoints, not how great their property is.
- Hone your elevator pitch. Properties must be prepared to communicate a sponsorship offer in succinct, thirty-second pitch, a move that Chevat likens to the “high concept” when pitching a movie.
If a property can’t explain why the opportunity is relevant to a brand in an elevator pitch, chances are they won’t be able to explain it during a 30 minute PowerPoint presentation, he said.
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Filed under: entertainment, how to get sponsorship, negotiating, selling, spending, agency