Profiting from sponsorship – as easy as 1-2-3
By Craig Richards, General Manager Commercial Operations

I’ve heard many complex theories trotted out about how to run a profitable sponsorship. Why not abandon the theories and imagine you’re the customer making the purchasing decision?

By stepping inside the mind of the customer, implementing a profitable sponsorship can be reduced to a simple 3 step process.

1. Create sponsorship awareness – in the 1990s a number of consultants convinced marketing managers that awareness wasn’t important. But if customers don’t know you are a sponsor what will make them even consider buying your product?

2. Generate interest – the exceptional experiences and themed merchandise that a sponsorship provides can lead the horse to water. For example, an AFL coach sponsor might run a competition where every person that receives a quote goes into the draw to meet their beloved coach.

3. Close the sale – to get the horse to drink the two corporate partners need to work together. The sponsor can provide an extraordinary sales incentive.
You’ll need to make sure your sales team are on the ball.