Sponsorship Trends Going Up

While our economy has taken a battering in the last year or so and all companies have retrenched somewhat, sponsorship trends have slowed but are still moving forward. As we emerge from the recession companies will be looking for fresh perspectives and a way to try and reach their potential clients once again. Traditional forms of advertising may start to take a backseat and creative sponsorship approaches seem destined for much growth.

It’s important to remember that over-deliverers are likely to gain the most and this applies in the world of business generally and in sponsor relations specifically. While there is always room for a brand-new or even intricate approach to a potential sponsorship arrangement, companies are increasingly looking to provide extra value and will be looking for the sponsored party to position accordingly as well.

While sponsorship spending grew by only a few percentage points last year, it is projected to grow back to double digit increases as we emerge fully from the recession. This trend is particularly encouraging and underlines that companies are willing to think “outside of the box” when it comes to marketing their products and services.

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It is estimated that upwards of $17 billion was spent last year by companies in the USA to sponsor individuals, teams and organizations. This is a huge amount of money and while it backed off during the economic downturn, it still represents considerable opportunity. A company cannot exist without marketing in one form or the other and there is plenty of potential for growth as the recession ends.

To capitalize on sponsorship trends, the sponsor seeker must aim to provide a realistic valuation of the package sought. There is a tendency to calculate how much money is actually required, based on how much it costs to run the operation, team, program or property. This should not represent an approach unless it automatically equates to the value that the company might receive.

Whenever a campaign is being created, differentiation must be the focus. Creativity and an ability to think outside the box will likely bring results. It is never good enough to think traditionally, or to even copy the efforts of other successful dealmakers. Remember to create a unique selling position for your entity and position it correctly.

It is estimated that as much as 68% of all sponsorship dollars are spent in the field of sports. Our society in general will continue its love affair with sporting events, but every facet of commerce is likely to see growth in sponsorship involvement this year and beyond.

Sponsorship trends may be well on the rebound, but as an active sponsor seeker you should be keeping your finger on the pulse of trends in general. If you can tie your product or service to something that is becoming of increasing interest within society, then you’ll likely be of great interest to companies across the board.

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