On the money

We are all aware that when money is tight, so is sponsorship, which can be extremely difficult to come by for many professional associations and sporting bodies. From experience as a publisher who has supported the industry over the years with sponsorship cash or kind, I would have to say that 90 per cent of the cash has been wasted. Moreover, need I say it, the gesture has not been appreciated by the recipient.
It’s the other 10 per cent that has proved to be worthwhile, mainly because the association or group seeking funds put together benefits that were recognisable. They followed up during the event and afterwards sought feedback in an effort to see that all was well – in other words that we had benefited from the sponsorship in some way.
Everyone in business these days looks for a return on investment; they have to, because otherwise they wouldn’t stay in business for long. We are no different, and as a result have become selective with our support.
Most associations, and some corporates, seek sponsorship in one degree or another and it would be wise to be able to show your prospective sponsor what reward is in it for them, not to simply put their hand out and expect financial help almost as a right. That attitude, which is shown by many, will not bring you the results expected.
Put yourself in your sponsor's shoes for a moment and you will see what I mean.