One of my clients has just made the decision to spend £10,000 sponsoring a key industry event.
It’s a significant investment, particularly since it’s a membership organisation and it has to act responsibly with members’ funds.
The decision is a good one. It’s rooted in good commercial sense; it’s definitely not a vanity project.
The event will bring them into contact with their members’ customers. They will be able to show these companies how they and their members are driving up standards and help their members network.
They’ve also negotiated a good package.
Now the hard work really begins. A number of things come with the package – branding at the event, media coverage in key trade titles, content on the events’ website and free tickets.
If that’s all they do they’ll obviously get results. But if they want a really good return on their investment then they need to spend more. As a rule of thumb you need to spend the same amount of money exploiting the sponsorship as on the sponsorship itself.
We’re now plotting all sorts of activities to really make the most of the sponsorship and deliver value for our members.