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Sponsorship Trends Going Up

While our economy has taken a battering in the last year or so and all companies have retrenched somewhat, sponsorship trends have slowed but are still moving forward. As we emerge from the recession companies will be looking for fresh perspectives and a way to try and reach their potential clients once again. Traditional forms of advertising may start to take a backseat and creative sponsorship approaches seem destined for much growth.

It’s important to remember that over-deliverers are likely to gain the most and this applies in the world of business generally and in sponsor relations specifically. While there is always room for a brand-new or even intricate approach to a potential sponsorship arrangement, companies are increasingly looking to provide extra value and will be looking for the sponsored party to position accordingly as well.

While sponsorship spending grew by only a few percentage points last year, it is projected to grow back to double digit increases as we emerge fully from the recession. This trend is particularly encouraging and underlines that companies are willing to think “outside of the box” when it comes to marketing their products and services.

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In 2008, it is estimated that upwards of $17 billion was spent by companies in the USA to sponsor individuals, teams, and organizations. This is a huge amount of money and while it backed off during the economic downturn, it still represents a considerable opportunity. A company cannot exist without marketing in one form or the other and there is plenty of potential for growth as the recession ends.

To capitalize on sponsorship trends, the sponsor seeker must aim to provide a realistic valuation of the package sought. There is a tendency to calculate how much money is actually required, based on how much it costs to run the operation, team, program or property. This should not represent an approach unless it automatically equates to the value that the company might receive.

Whenever a campaign is being created, differentiation must be the focus. Creativity and an ability to think outside the box will likely bring results. It is never good enough to think traditionally, or to even copy the efforts of other successful dealmakers. Remember to create a unique selling position for your entity and position it correctly.

It is estimated that as much as 68% of all sponsorship dollars are spent in the field of sports. Our society in general will continue its love affair with sporting events, but every facet of commerce is likely to see growth in sponsorship involvement this year and beyond.

Sponsorship trends may be well on the rebound, but as an active sponsor seeker you should be keeping your finger on the pulse of trends in general. If you can tie your product or service to something that is becoming of increasing interest within society, then you’ll likely be of great interest to companies across the board.

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Filed Under: Corporate Sponsorship, Event Sponsorship, How To Get Sponsored, Sponsors, Sponsorship Tagged With: , , , ,
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Music Sponsorships Bring Us the Arts

Music is one of our most treasured arts and every one of us appreciates it in one form or genre, or another. It is something that we grow up with from an early age and often turn to it for relaxation, enjoyment or entertainment. Music, quite simply will never grow old and there are thus multiple opportunities for artists to come before us and to entertain our senses.

Music sponsorships can come in many different shapes and forms and are appropriate, no matter what your style. From classical to jazz, from hip-hop to soft rock, aspiring artists and groups find a willing audience in one sector of society or another. For those who really love music and have a skill for its production, working out how to “get in front” of the audience can sometimes be challenging. Music sponsorships offer a helping hand in this direction.

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Organizations that get involved with music sponsorships can benefit in many different ways. By sponsoring “the arts” they are seen as being philanthropic by some and gain considerable, positive public relations “points”, often subconsciously. They may benefit additionally when they are seen as helping to bring forward something which enhances our leisure time.

For an individual, tour, band or an event, getting music sponsorships can be critical to success or failure. One of the most popular ways for a music act to gain credibility and exposure is through a tour or a series of events. These can be costly to set up including the preparation, travel, promotion, on-site production and a host of other elements. Much of this money has to be spent in advance of ticket receipts.

Assuming that you have significant talent, ability or show and have enough feedback to convince you to go ahead, one are the first steps you must take is to craft an introductory letter to potential backers. Identify your target audience very carefully. Note the demographic makeup inside and out, ast this will give you an idea what company to approach and why.

When you are analyzing your target audience and preparing your presentation to try and attract music sponsorships, you should establish a profile for your listener. You should know what he or she likes to do away from the music scene, thereby identifying the type of product or services that they tend to purchase. When you have done this, make sure that you only consider approaching organizations that fit this profile to a “T.”

Remember that you must include all elements of production in your cost analysis before you are ready to move forward. If you are seeking music sponsorships for a tour of some kind, have you adequately identified all the cost areas, including funds that it would take for you to promote any new sponsors? Be very clear here as any information you put forward to a potential sponsor will be analyzed to see if you have counted correctly.

You will need evidence of your ability in many different areas. Not only will a potential sponsor want to confirm your talent and production abilities, the company will also want to know that you are adequately prepared and ready from a promotional, public relations, production and media point of view.

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Filed Under: Corporate Sponsorship, Event Sponsorship, Sponsors, Sponsorship Tagged With: , , , ,
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