We have been asked over and over about how professional service firms approach sponsorships of events and non-profit organizations. Questions surrounded:
- How do you know if you are getting your money’s worth?
- Which activities are good bang for your buck?
- What criteria should be evaluated when sponsoring events?
- How do you maximize firm exposure, before, during and after it?
Overwhelmingly our experiences show that most firms approach sponsorships without a plan. They randomly select an event or organization to sponsor basically because someone asked them to, not because they strategically sought out the opportunity.
Here are our three recommendations that will help you!
1. What events are a fit with your firm’s culture, commitment to community or growth goals?
Let’s face it – there are a zillion wonderful events and organizations out there who do amazing work. From helping the homeless to fighting diseases to saving animals, but are they representative of your firm’s culture, community or growth?
When you decide on the budget for firm sponsorships, you need to consider the strategic vision and take the emotional connections out of the equation. Some questions for you to consider / share with your “sponsorship selection committee” include;
- What events are the firm’s clients / prospective clients attending?
- Where do employees focus their volunteer time? (and does this represent the true culture of your firm?)
- Does the sponsorship help expand our brand awareness in the community with the right individuals / companies?
- What events / organizations does the firm already support? Why? Is it a match for our needs?
2. Are you receiving the best bang for the buck?
Once the sponsorship decision has been made, take time to look through the sponsorship packages / benefits that have been outlined for your firm, and then ask:
- Are we really getting that much more out of being a gold level sponsor than a silver level?
- Is there industry exclusivity or can your competitor’s sponsor at the same level too?
- What else can our firm do to achieve greater return on our investment?
Over the years, we’ve learned to never take a sponsorship at the presented face value. If you want more, then discuss with your contact at the organization what other benefits you could add / adjust. If getting a list of attendees is the most important thing to you, then ask for it and don’t forget to be specific (if you want email addresses, ask for them). If having someone from your firm welcome the audience or introduce the guest speaker interests you, then ask for it. You won’t always get what you want, but it never hurts to ask.
3. What to do with that table of 10!
This could have, and probably should have, been our #1 recommendation. We can’t tell you how many times we’ve walked into an event and find a table of 10 filled will all colleagues from the same firm. Guess what? The person sitting next to you isn’t a client or a prospect. They know your story, so why would you feel the need to sit next to them?
If your sponsorship includes a table of 10, ask to get 10 tickets instead and sit throughout the room. This will help spread your messaging throughout the room and your word of mouth marketing throughout the event.
One rebuttal to this scenario is an event that is to honor / award someone from your organization – then you’ll want to keep all the support together! Makes a larger impact when your professional wins!
Remember, sponsorships can and should be part of your firm’s overall marketing plan. It is critical to support the community agencies, while developing a stronger brand for your firm. But don’t throw dollars at it willy-nilly; develop a plan to make the most of sponsorships – for you, your employees and your firm!
Brought to you by:
Jodie Binning, Three Point Marketing
Michelle Class, Marketing With Class
Posted by threepointmarketing 
Three Point Marketing 