Establishing Great Sponsorship Agreements
Lately, I have been working with clients on developing sponsorship agreements that rock!
What is a sponsorship agreement? To me, it is an agreement between two organizations in which both gain benefits and meet specific objectives.
Simply put, festivals of all kinds – including music, theatre and film – are prime examples of organizations that seek sponsorship. They are often looking for suppliers who can contribute money, sound equipment, printing, catering, beverages, advertising, prizes and media coverage.
I believe sponsorship works best when the audience of a festival gets to truly experience the sponsor’s product or service. One way to achieve this objective is through providing product samples to the audience.
Back in 2008, we wanted to increase ticket sales for the gala opening of Vancouver’s International Fringe Festival. One way in which we achieved this goal was by providing $25 goodie bags filled with cool stuff including a beer glass, handmade card, chocolate and tea.
If you are considering entering into a sponsorship agreement, ask yourself: “What is the best way to create an experience for the customers, patrons or audience that will provide a lasting impression?”
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Partnerships with other businesses or organizations can work similarly. Look to industries you want to be connected with and find out how you can each gain exposure and experiences with each other’s customers.