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5 Ways to Make the Most of Your Sponsorship Dollars

Several years ago, my husband asked why I always watched a particular local news broadcast. The one I watched was consistently No. 2 on the Nielsen charts, but my response was easy. The No. 2 station offered a quality newscast and supported the community with school supply drives, winter coat drives and as the media sponsor for nonprofit events. He couldn’t think of an argument against that!
This station’s community support made all the difference for me, and it’s been rewarded. Its network’s national morning show jumped to No. 1, and the local stations got credit for boosting local viewership. This same concept goes for other industries, too. According to a 2010 study by Cone Communications, 85 percent of consumers have a better outlook on businesses that give to a charity they care about.
But how can your company make the most of its charitable activities?
1.Choose the right cause.
Thousands of nonprofits welcome corporate supporters. Find one you care about and that aligns with your company’s values. For example, it makes sense for a restaurant to support a food bank or for a bank to support financial literacy. Also, don’t be afraid to do your research before making a decision.
2. Make sure your customers care.
If you own a retail store in Memphis, would you spend $2,000 to sponsor a fundraiser in Philadelphia? Probably not since the event won’t reach your customers.
Evaluate the demographics of a nonprofit’s supporters to ensure your support is mutually beneficial. And, ask your customers what they care about as another way to ensure you support what they support.
3. Don’t forget that this is a marketing opportunity.
It’s important to support the community, but there is no reason your company can’t benefit from its donation. Evaluate sponsorship levels, and don’t be afraid to ask for a benefit that may not be listed. Some tangible benefits look for include signage at the event; social posts or emails to supporters; opportunities to speak at the event; or logos on a T-shirt. In a nutshell, look for benefits you’d otherwise be willing to pay for.
4. Make your support a true partnership.

Your sponsorship should be more than writing a check; it should be a true partnership. Just as the organization promotes your organization for supporting its cause, you may consider promoting the cause with your customers. That makes it a true win-win.
5. Budget for sponsorships within your regular marketing plan.

Include sponsorships as part of your marketing budget so you’re always able to consider opportunities that come your way.
Kelli Brignac is a senior account manager at Obsidian Public Relations in Memphis. 

Posted: 11/16/2016 3:11:37 PM | with 0 comments
Filed under: Big, Business, Charity, Dollars, Ideas, Marketing, Obsidian, PR, Public, Relations, Small, Sponsorship, Sponsorships

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