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How can you build a diverse portfolio of sports sponsors and partners?

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Sports sponsorship and partnership development is a crucial skill for sports managers who want to create value for their organizations, athletes, and fans. However, finding and securing the right sponsors and partners can be challenging, especially in a competitive and dynamic market. How can you build a diverse portfolio of sports sponsors and partners that aligns with your goals, objectives, and values? Here are some tips to help you.

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1 Identify your target audience

Before you approach any potential sponsors or partners, you need to have a clear understanding of who your target audience is and what they want. This will help you tailor your pitch and offer to their needs, preferences, and expectations. You can use various methods to research your audience, such as surveys, interviews, focus groups, social media analytics, or data from existing partners. The more you know about your audience, the more you can demonstrate how your sponsorship or partnership can benefit them.

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Erin Wilson Uribe, MBA

Director of Marketing @ PearlX
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Sports sponsorships are very interesting because to sell the sponsorship you have to identify B2B opportunities that are either selling B2B or B2C themselves. I have found that sports work very well in the financial services industry because this typically appeals to everyone and can cast a wide advertising net to a wide demographic that can utilize a multitude of financial services that a business might offer.

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2 Define your value proposition

Your value proposition is the core message that communicates what you can offer to your sponsors or partners and why they should choose you over others. It should highlight your unique strengths, competitive advantages, and differentiation factors. Your value proposition should also align with your mission, vision, and values, as well as your sponsors' or partners' goals, objectives, and values. You can use a simple formula to craft your value proposition, such as: "We help [target audience] achieve [desired outcome] by [unique solution]."

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3 Diversify your sources and channels

One of the best ways to build a diverse portfolio of sports sponsors and partners is to diversify your sources and channels of finding and reaching them. You can use various platforms and networks to connect with potential sponsors or partners, such as online directories, databases, websites, social media, events, referrals, or cold calls. You can also use different types of sponsorship or partnership arrangements, such as cash, in-kind, media, or co-branding. The more options you have, the more chances you have to find the best fit for your organization.

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Drishti Bagla

Sports Enthusiast and Content Creator| Forensics - Deloitte | Sports Unplugged | Ex-KPMG | Young India Fellowship | York University - Canada
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Building a diverse portfolio of sports sponsors involves aligning with brands that resonate with various demographics and interests. For instance, in European football, FC Barcelona partnered with Rakuten, a global technology company, diversifying their sponsor portfolio beyond traditional sportswear brands. Understanding their fanbase, Barcelona leveraged Rakuten's tech appeal to attract a different audience segment. Additionally, conducting market research to identify brands that align with diverse fan interests, values, and demographics expands the sponsorship horizon. Collaborating with brands from different industries or geographical regions widens the portfolio, ensuring a diverse and inclusive sponsorship base in sports.

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4 Build long-term relationships

Another key factor for building a diverse portfolio of sports sponsors and partners is to build long-term relationships with them. This means that you need to maintain regular communication, provide feedback, deliver on your promises, and exceed their expectations. You also need to show appreciation, recognition, and gratitude for their support and involvement. By building long-term relationships, you can increase trust, loyalty, and satisfaction among your sponsors or partners, as well as create opportunities for renewal, expansion, or referrals.

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Vipul Londhe

Business Development Manager - Luscid | Sports & Entertainment Sponsorship | Brand Partnerships
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The best way to start off is by creating customised sponsorship packages that align with each sponsor's objectives. Offer diverse activation opportunities that go beyond logo placement. This could include event sponsorships, community engagement, social media features, and collaborative marketing campaigns. Implement mechanisms to measure the return on investment (ROI) for sponsors - including reach, engagement, and any tangible results achieved. Maintain open and regular communication with sponsors. Provide them with updates on team performance, upcoming events, and impact their sponsorship. Be flexible and adaptable to changing circumstances. It's important to adjust strategies according to trends and keep the partnership dynamic.

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5 Evaluate and improve your performance

Finally, you need to evaluate and improve your performance as a sports manager who manages sponsorship and partnership development. You need to measure the results and impact of your sponsorship or partnership activities, such as awareness, engagement, revenue, or retention. You also need to collect feedback from your sponsors or partners, as well as your audience, to identify what works well and what needs improvement. By evaluating and improving your performance, you can demonstrate your value, accountability, and professionalism to your sponsors or partners, as well as enhance your skills and reputation.

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6 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?

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Dr. Dan Kaufmann

Strategic Revenue Executive | Driving Growth Through Data-Driven Sales Cross-Functional Collaboration, and Customer-Centric Innovation | Scholar-Practioner
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To expand your sports sponsorship portfolio: Start by identifying open categories, then break these into subcategories to uncover niche markets. Instruct your sales team to target these specific areas for sponsorships. Concurrently, conduct an external market analysis, focusing on demographics, psychographics, behavioral trends, and geographical insights. Combining detailed market analysis with a segmented portfolio strategy, this dual approach enables you to attract a wide range of sponsors and partners. This method ensures a diverse, adaptable, and robust portfolio responsive to market shifts and varying consumer interests, growing your sponsorship portfolio.

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How can you build a diverse portfolio of sports sponsors and partners?

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4

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1 Identify your target audience

2 Define your value proposition

3 Diversify your sources and channels

4 Build long-term relationships

5 Evaluate and improve your performance

6 Here’s what else to consider

Sports Management

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How can you build a diverse portfolio of sports sponsors and partners?

1

2

3

4

5

6

1 Identify your target audience

2 Define your value proposition

3 Diversify your sources and channels

4 Build long-term relationships

5 Evaluate and improve your performance

6 Here’s what else to consider

Sports Management

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