Who says you can’t measure ROI on a sponsorship investment? People who think that are crazy! As long as you know why you invested in the sponsorship, and had goals and objectives, you can measure outcome.
Dow Chemical predicts that, through the use of its Olympic Sponsorship, it will gain access to government accounts, contracts and sales in Russia totalling $1.5 billion by 2012! In my book, a $90 million investment to yield $1.5 billion in a single market, not including other business development and opportunities that will spring from it, is a good investment. But more importantly, it is a measurable investment. In the same way, when you put money into an RSP, you expect it to grow. If you plan correctly, you know how much you need to put into that RSP annually between now and your planned retirement to ensure you have money to retire. If you do it right, there is a measureable outcome.
In June, I spoke at three conferences where the audiences were brands and sponsors, or people who represented them. As I noted earlier in a Tuesday Morning Commentary, many had their eyes opened. You don’t need to be Dow Chemical or Coca-Cola to measure ROI of sponsorship. You just need a plan and a goal. No matter the investment level, if you have a goal, it can be measured. That is what we do with our brand clients. They can have tangible outcomes and results against objectives. But they need to plan and that is how we assist them.
Whether the sponsorship investment is to increase government contracts like Dow, or get pouring rights and case lot sales like Coke, measurement of original goals is critical. But sometimes those goals are not so tangible. Perhaps the investment in a sponsorship is around employee engagement, retention or acquisition, or a product launch or brand awareness. It doesn’t matter. As long as you know what you want to achieve and can set goals, you can measure ROI. Some of our largest brand clients and also very small ones are doing this. It is critical to their renewals, bottom lines and long-term planning.
So remember…you can measure success. If you aren’t doing so now, what are you doing?
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