As ROI becomes a more important evaluation tool for sponsor renewals, it is essentials to have measurement tools in place to effectively determine the success of the investment. So often the “failure” of a sponsorship lies with the sponsor, though the blame most often falls with the property. A sponsor who fails to have effective measurement tools in place can not truly evaluate their investment.
Was the sponsorship first brought forward by the marketing department? But was the plan to build brand loyalty, image, generate leads, build employee morale and also demonstrate community commitment? If so the evaluation methods need to be developed to determined and evaluate the success of each of these objectives, not just sales. If no leads were developed…was it then a failure? Not necessarily! Perhaps the community recognition was heightened extremely and brand loyalty sky rocketed as a result of the investment. As a result as well, employee moral rose. Then the program could be determined highly successful even though the sales objective component was not met.
The Partnership Group provides the metrics and measure tools for their clients to effectively and efficiently evaluate sponsorships. Based on the number of sponsorships that are being consulted on versus an entire program will determine the investment level which can range from a $35,000.00 to $95,000.00 or more + GST investment plus applicable travel expenses.