As discussed in my previous posting, the use of automated online screening tools are a reaction to the increased number of requests many companies receive. While able to handle the routine, small dollar amount requests, they are not very good at encouraging potential high impact proposals to be submitted. And in fact likely require creative properties to dumb down their ideas or even avoid submitting them based on the inflexibility of the online process.
To encourage more creative and higher quality proposals it is necessary to add some steps to the proposal process. The goal is to encourage properties to refine their proposal and discourage those with a “throw it against the wall to see if it sticks” approach.
The process starts by requiring properties to submit a short written summary to highlight their concept. This can be online but should include:
- The purpose of the sponsorship – both for the sponsor and the property. A winning sponsorship agreement requires clear understanding of what both parties.
- A summary of how the sponsorship would meet one or more of sponsors’ business objectives.
- Expected results for the sponsor. These would be high level but force properties to understand sponsorship is not charity but needs to deliver measurable results.
- High level description of the opportunity – what, when, target audience, possible activation opportunities, and budget required.
The above requires more analysis on the part of the property and greater in-depth research of the sponsor’s business and objectives. It will discourage properties approaching sponsors where there isn’t a clear fit.
Based on the sponsorship team evaluation of this information, good ideas require a follow-up meeting to review key points, clarify elements of concept and provide feedback to the property. This can be handled in person, over the phone or through video conferencing.
Properties with ideas that are worth pursuing are then provided the opportunity to submit a formal proposal based on the discussion and feedback provided.
The result?
Many properties will avoid this intensive commitment of resources without a clear understanding of the value they offer. It would significantly increase the quality of their proposals and provide more insight on which sponsors are good candidates to approach. Sponsors in turn can focus more of their resources on high quality opportunities and help shape high potential proposals to better meet their needs.
This suggested approach will require realignment of internal resources. But it will also positively change the sponsorship results as Pareto’s Law will come into effect.
CF Marketing Group delivers retail and sponsorship promotions using unique, interactive products that integrate print with digital apps to increase the stickiness of promotional messages for auto, sports sponsors or consumer contests, events or sponsorship activation programs. Stickiness means your promotion will be noticed, have interactive elements and deliver measurable results.
Call 1.888.215.8315 or email volker@cfmarketinginc.com to discuss some ideas on how we can help create a customized multi- media solution that is both unique and generates better results for your next promotion or sponsorship activation program.
