You’ve (hopefully) read my blog on Corporate Social Responsibility Marketing (CSR Marketing), and you’ve thought, “I need to do that”, but what do you do next and what do you need to think about before becoming a sponsor?
Before considering becoming a sponsor or donating to any good cause, you need to consider several factors about how your brand tallies up to the charity/CIC that you are choosing to work with; for example, a butcher sponsoring a vegan event isn’t going to tally all that well.
Below I’ve listed several questions you need to ask before deciding to become a sponsor and putting your hand in your pocket.
What’s my target market?
In the same way that you will always consider who your print and online marketing and advertising are aimed at, you should also think about what the event or charity/CIC that you are sponsoring is aiming towards too. Do your homework and think about the kinds of people that will be attending the event/organisation. Do they fit your current or potential customer base? Will they be interested in what you do? Ask the organisation about its supporters and see if it feels like a good fit. The last thing that you want to do is throw marketing capital at something that isn’t going to pay off.
When and where is the event being held? Where is the organisation based?
In the simplest terms, there is no point in sponsoring an event in Manchester if you are a plumber in Kent! Similarly, there is little value in putting your business’ name to an event that you can’t attend because you are on holiday. Think about where the charity/CIC is based, if it is geographically close to where your company operates and if you can attend any of the events connected with the sponsorship.
Don’t get me wrong; there is absolutely nothing wrong with donating to causes that are a long way from home; just don’t base your marketing strategy on doing so, if you rely on locally geographically based customers.
How much will it cost?
Can your business afford it? Yes, there are many amazing causes out there, all vying for sponsorship and support, but if you don’t have the money in the till, you can’t pay for it. Have a look at the packages that they have to offer and see which one fits best with you and your bank balance. Also, consider the time factor involved; the cost of time is often forgotten in the value calculations.
Who else is sponsoring the event/cause?
This is quite important. When you decide to sponsor an event or cause, your business name will be displayed alongside other businesses that are doing the same thing. So, be prepared to ask for a list of sponsors and donors. Why? Two reasons, firstly you don’t want to be pitched against a competitor, imagine two sets of solicitors sat next to each other on an advertising board or website. The second reason is that you need to ensure that the other donors also reflect your company’s ideals and ethos. The last thing you need is to be connected with another business that doesn’t do its job well! When you are offering to sponsor or be listed as a donor, it’s a good idea to ask for some kind of exclusivity in exchange for your donation.
What marketing does the cause do?
You’re handing over money for two reasons; to get warm fuzzies for your business and to receive extra marketing and coverage. Check to see exactly what marketing the cause that you are supporting does and whether it fits in with your company’s message. Does their marketing look professional? Do they have lots of activity on social media? How often do they make it into the local papers?
If you’re sponsoring an event/cause, is it well organised?
Whoever said that there is no such thing as bad publicity was wrong. Being connected to an event or cause that is poorly run could harm your business. Check to see if there are any resources that your business can donate to ensure that everything runs smoothly; remember, a donation doesn’t just have to be money, it can also be resources and services.
What fringe benefits will you receive?
Will you get access to a VIP area at an event or get your picture in the paper handing over an award? Will you be mentioned on a website with a valuable backlink? Can the trustees of the charity provide you with any useful networking opportunities? Could the charity/CIC actually use your business in the future?
These are all questions that need to be at the forefront of your mind; after all, sponsorship has to be a two-way street.
If you are sponsoring an event, how many people will be attending?
You’ve agreed to the sponsorship package, the event looks perfectly planned, your company name is on the posters, and you’ve been provided with a stand at the event. How many people are going to attend? It would be embarrassing, and a waste of time and money, to turn up with enough publicity material for 200 people when 2000 are expected to attend.
CSR Marketing works well when it is utilised in the right way, so do your research and check that everything fits with your requirements before you sign on the dotted line.
NAMA has extensive experience in advising companies of all sizes about sponsorship and donations.
If you are considering sponsoring a charitable cause or event or want to shout about what your business has done already, give us a shout.
