Why sponsorship is more of an egg than you might think…
Here’s one… I recently learnt that a traditional Chef’s hat had 100 pleats/folds, and was only given to a Chef who could ‘cook eggs 100 ways’. Go figure. These days it’s somewhat scaled back to around 50, but that’s still a lot of ways to get use out of the same perfectly formed egg.
It sparked a thought I’ve held for a while. A view I’ve shared with those who seemed interested at the time, but am now sharing with the wider world. “Sponsorship is like an egg”, and here’s why…
If I gave one of my clients $100k to spend on media, there’s one main department in the business who benefits; sales (sure, it can also give brand metrics a polish too). If I gave the same client $100k to spend on sponsorship, there are myriad outcomes and departments within the business who benefit. It’s the same amount of money, yet one application can go infinitely further than the other; even far enough to earn you a Chefs hat.
Think about it. $100k on media will have your brand, product or service reach as many in the TA as possible. It would work hard and be put to use in channels that provide pretty much real time results. We feel comfortable about this approach as we quickly get to see what happened for that $100k*. (*I won’t go into the cavernous hole of wasted digital spend…).
https://www.bandt.com.au/advertisers-wasting-42-of-digital-ad-spend-nextco-report/
Conversely, you take the $100k and invest through sponsorship. Doesn’t have to be a new property, but could be spent to bolster an existing contract, secure additional rights or even go into the leverage and activation fund. Either way, it’s spent on ‘sponsorship’...
Where the $100k in media hits eyeballs, the $100k in sponsorship hits people…
Let’s break it down. Here’s a laundry list of how $100k could support various business priorities:
It can support a sales campaign through digital and social rights; sponsorship sells too…
It can support HR in the development of new staff engagement and learning opportunities.
It can support operations with the development of new thinking, systems or ways of working.
It can enable CSR or ESG initiatives (post to come on this)
It can support BD through third-party and vertical integration opportunities.
It can drive customer engagement through shared experiences or co-op activities.
It can improve performance of existing marketing through powerful IP integration.
It can open up NPD initiatives through shared IP and capabilities.
It can support the expansion into new markets, categories or territories.
It can make your kids love you more and your neighbours want to be your friends.
I promise you this list isn’t exhaustive, but you get the point. Sponsorship is like an Egg! Get cooking!
