What are the best ways to reduce risks in esports sponsorship?

1 Understand the esports landscape

The first step to reduce risks in esports sponsorship is to understand the esports landscape, which is diverse, dynamic, and complex. Esports is not a single industry, but a collection of different games, genres, leagues, tournaments, teams, players, and communities. Each of these has its own culture, values, preferences, and expectations. Therefore, you need to do your research and identify the best fit for your brand, goals, and budget. You also need to keep up with the trends and changes in the esports scene, as new games, platforms, and opportunities emerge constantly.

2 Align your brand values and objectives

The second step to reduce risks in esports sponsorship is to align your brand values and objectives with the esports entity you are sponsoring. This means that you need to have a clear and consistent message, tone, and image that resonates with the esports audience and matches the esports entity's identity and vision. You also need to have specific and measurable goals for your sponsorship, such as awareness, engagement, conversion, or loyalty. By aligning your brand values and objectives, you can avoid potential conflicts, misunderstandings, or backlash from the esports community, and also track and evaluate your sponsorship performance.

3 Negotiate a fair and flexible contract

The third step to reduce risks in esports sponsorship is to negotiate a fair and flexible contract with the esports entity you are sponsoring. This means that you need to have a clear and detailed agreement on the rights, obligations, benefits, and costs of the sponsorship, as well as the duration, termination, and renewal terms. You also need to have some room for adjustment and adaptation, as the esports landscape can change rapidly and unpredictably. By negotiating a fair and flexible contract, you can protect your legal and financial interests, and also have some leverage and control over your sponsorship.

4 Create engaging and authentic content

The fourth step to reduce risks in esports sponsorship is to create engaging and authentic content for your esports audience. This means that you need to provide value, entertainment, or education to the esports fans and gamers, and not just push your products or services. You also need to be respectful, transparent, and honest about your sponsorship, and not try to deceive or manipulate the esports community. By creating engaging and authentic content, you can build trust, loyalty, and advocacy among your esports audience, and also enhance your brand image and reputation.

5 Collaborate and communicate with your esports partner

The fifth step to reduce risks in esports sponsorship is to collaborate and communicate with your esports partner. This means that you need to establish a strong and positive relationship with the esports entity you are sponsoring, and work together to achieve your mutual goals. You also need to communicate regularly and effectively with your esports partner, and share feedback, insights, and ideas. By collaborating and communicating with your esports partner, you can optimize your sponsorship strategy, and also resolve any issues or challenges that may arise.

6 Evaluate and improve your sponsorship

The sixth and final step to reduce risks in esports sponsorship is to evaluate and improve your sponsorship. This means that you need to monitor and measure your sponsorship results, and compare them with your goals and expectations. You also need to analyze and learn from your sponsorship experience, and identify the strengths, weaknesses, opportunities, and threats of your sponsorship. By evaluating and improving your sponsorship, you can demonstrate your return on investment, and also find ways to enhance your sponsorship in the future.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?