How can you develop a sports strategy that attracts new sponsors?

The goal is to create and implement effective strategies that enhance the visibility and success of sports properties. Objectives include delivering compelling and measurable sponsorship opportunities, fostering positive relationships with sponsors and stakeholders, and ensuring the overall growth and sustainability of the sports entity.

Researching target sponsors involves understanding their brand, marketing goals, and target demographics. Identify companies that align with your sports property and share a target audience. Evaluate their past sponsorships, values, and market positioning to tailor your approach accordingly.

Developing a sponsorship package requires a comprehensive understanding of your sports property's strengths and unique selling points. Craft packages that offer a variety of benefits, including branding opportunities, audience engagement, and exclusivity. Ensure flexibility to accommodate different budget levels and objectives.

I would rephrase - develop your sponsorship assets, rather than your sponsorship packages. Rights holders developing a similar mindset as their brand partners - quality over quantity - will likely be more successful moving forward as creating bespoke and individualized deals catered to goals, not packages or subjective limitations, shows a willingness to work with brands in ways other rights holders may not, a flexibility of mindset indicating the org is open to new and never before seen activations, and is invested in making the partnership a success for both parties, not just getting the money for a pre-set package and come what may.

Building and maintaining relationships with sponsors is crucial for long-term success. Regular and transparent communication is key. Provide updates on the partnership's progress, deliver on agreed-upon benefits, and seek feedback. Establishing a positive and collaborative partnership fosters loyalty and increases the likelihood of continued sponsorship support.

Another strategy is to cultivate Purposeful Partnerships. Alongside traditional sponsorship packages, focus on aligning your sports platform with the mission of potential sponsors. Showcase how your strategy can contribute to their goals beyond mere exposure, such as community engagement or youth development. By emphasizing shared values, you offer sponsors meaningful engagement opportunities, fostering long-term partnerships built on mutual benefit and impact. This approach sets you apart in the market and attracts sponsors invested in making a difference through sports.

Always indicate the direct and indirect benefits for the sponsors. Do not spend too much time describing what will they get. Focus on how it will help their business grow, how they can quantitatively and qualitatively measure it.

Before you reach out to potential sponsors, it is crucial to understand what your audience values and clarify your sponsorship goals. Are you after financial backing, brand exposure, or both? Next, tailor sponsorship packages to suit various budgets and marketing objectives, including logo placement, digital ads, event signage, VIP perks, and social media promos. Find sponsors whose values align with your team or event, and make personal connections with decision-makers. Develop a solid plan to activate sponsorship assets before, during, and after events, leveraging social media, engaging content, exclusive sponsor events, and brand integration. With continuous refinement, you will attract new sponsors and build fruitful partnerships.