Mastering Value: Tips to Get the Most out of your Sponsorship Budget
- February 23, 2023
- SponsorPulse Staff
Top 3 Tips for Stretching your Sponsorship Budget Amid Cutbacks
Anchor your Decisions in Data
Are you one of the 32% of sponsorship professionals that has struggled to identify the right property to sponsor? In this tech-enabled marketing landscape, powerful brands anchor their decisions in data to yield better results.
Our robust consumer Insights Platform takes the guesswork out of sponsorship. Brands have access to competitive property data at the click of a button—allowing them to make informed decisions with ease. With our database in your back pocket, you can enter every budget meeting prepared with the insights necessary to ask for what you require to forge impactful sponsorships.
Refine your Target
The success of a sponsorship activation rests highly upon a brand's ability to understand their target consumer. Otherwise, you’re shooting blind. Who are you trying to reach? What do they do for fun? Where are they located? The answers to these key questions are instrumental in painting the demographic portrait necessary to run an optimized campaign.
In fact, 53% of consumers globally agree that they’ve made a purchase due to a brand sponsoring something that they care about. We’ll take those odds. Our Audience Network empowers brands to maximize in-market impact by pre-testing activations and maximizing media effectiveness by directing you toward your category consumer at the touchpoint they’re most likely to convert.
Measure your Impact
Are your marketing dollars well spent? Unfortunately, 69% of sponsorship professionals agree that demonstrating the value of sponsorship versus other marketing spends is the single greatest challenge for brands.
In order to protect your sponsorships from the looming recession, it’s imperative that you understand the value of what you’re currently doing. Fact is, an ineffective sponsorship strategy is akin to walking around with holes in your pockets.
Our Impact Reports empower sponsorship marketers to fine-tune their strategy by providing a detailed rundown of partnership performance. For instance, our recently published NFL End-of-Season Report examined how top brand sponsors, like Bud Light, Visa, and Subway fared across the US after partnering with the property.
Optimize your Sponsorship Efforts with SponsorPulse
By measuring and evaluating your current impact, you can set benchmarks with standardized metrics, and leverage objective data to head into budget meetings with a clear picture of what your sponsorship dollars are bringing to the table. Try SponsorPulse for free today!