If you have ever tried to build, deliver or defend a sponsorship, you know that the Sponsorship Recaps are how its success, failure and renewal is often determined.
And it is amazing that after four decades of sponsorship how often companies (agencies, brands and rights holders) are ill prepared to build them.
Even more amazing that there is no “industry standard” for what they should be included in these critical assessments where multiple thousands or even millions of marketing dollars have been invested. When you compare it to how we measure something like our digital marketing investment, it is much more transparent.
This guide represents the best practices that we have shared with our entire portfolio of clients.
There is a single caveat that we must accept:
Sponsorship is same as any other marketing tool. If you don’t believe me, ask your client or anyone you are trying to convince to invest in sponsorship.
We have tried to hide behind the illusion that sponsorship is somehow different than advertising, public relations, social media or digital ads. It is NOT.
Sponsorship is the best way to leverage & integrate everything that is great about all those tools.
And Sponsorship Recaps are the best way to demonstrate to the world that you have proven your ability to maximize everything that sponsorship can deliver for companies.
Sponsorship Recap Rule #1: Objectives and Results
· Reinforce objectives, strategies & tactics
· Identify & create a sponsorship plan
· Reinforce achievements for ROI & ROO
RESULTS, RESULTS, RESULTS. It's important to reinforce the targets and quickly convey the results. Think of it like an executive summary to start the recap.
Sponsorship Recap Rule #2: Every Detail Matters
· Measure, Document, Archive, Challenge
· Every Activation must be measured
· Use both internal and external resources
You might not presentation this section, but you need an asset breakdown for the audience that wants to dive deeper than the summary
Sponsorship Recap #3: The Audience connection
· Identify Your Intent & Dominate the Intersection
· Corporate Citizen / Charitable/ Philanthropy
· Fan to Brand. Brand to Fan
The connection between the assets, your audience and the prospects targeted demographic. What does it look like? Do you have examples from the data?
Sponsorship Recap #4: Start, Stop and Reporting
· Identify Stops, Starts & Continues
· Build out custom reporting & performance updates for bosses
Outline what to do next. What to stop doing. What should our next iteration of the partnership look like and how can we "dial-in" the reporting to do better next time.
Those are the 4 key ingredients that you need in EVERY recap.
How Trak Helps:
Space Trak Software provides the opportunity for you to share with the entire team recommendations in areas of improvement, and since it can also carry an archive of results you not only have it for the current year, but years prior as well to judge performance in an ongoing way.
Since Trak Software, integrates and accounts for all the inputs, that’s happening around your sponsorship of both on an individual and a portfolio basis, it is easily able to deliver a highly optimize wrap up report aware every activity is accounted for measured and presented in a way that creates transparency of how your company is doing based against your objectives.