Sponsorship evaluation is built by pulling together the hard and soft assets a property owns. The “hard assets” are the media value equivalencies for every elements offered to a sponsor. These media values are adjusted to the specific nature of the benefits and visibilities sponsorship can provide. Intangible values, or “soft assets”, are measuring the qualitative aspects of a property. The resulting score will be multiplied by the value of tangible assets to determine the overall value of the sponsorship proposal. Today, we will deep dive into sponsorship intangibles and what goes on while evaluating the magic behind an event.
Intangible value: how to measure the un-measurable?
The first objective in a marketing communication is often gaining visibility, being known and eventually reach top of mind notoriety. The same goes for a sponsorship program. Sponsors are often looking to associate themselves with a well-known and established event with lots of influence in a given market. Our tool measures how far and how much your organization is renowned.
Emotions and engagement are one of the key drivers in measuring purchase intent. The way fans interact with an organization says a lot about the potential of a sponsorship. The greater the fan base and the number of interactions with a property, the greater the value.
This is a well-known fact of sponsorship: activation is key to delivering positive results. Sponsorship effectiveness will depend on the quantity and quality of assets that can be later used (activated) by the sponsor to achieve its marketing and communication objectives. Some of the highly valued rights that can be granted to sponsors are the promotional rights and the on-site presence.
Knowledge of sponsorship from both the sponsor and sponsee is proven to improve the effectiveness of a partnership. Sufficient human and financial resources will also have a positive influence on the outcome. For instance, a property with a suitable account management structure for sponsors greatly increases their satisfaction, thus results are perceived as more positive. What does that do to the sponsorship value? Yes, it goes up.
Last but not least, the way a sponsorship structure is organized will have an impact on effectiveness. For instance, if you have an event cluttered with company logos, the brands will be less perceived and remembered by the audience and that has a negative impact on value.
Did you know?
Recent sponsorship research showed that sporting events and social causes have more emotional impact on consumer, thus provide greater value to sponsors. Sponsorship evaluation is a science. A mix in which hard and soft assets blend together to create value for sponsors.
Assessing the value vs. spend associated with your sponsorship investment and calculating the overall return shouldn’t be cumbersome. Our proprietary software CakeMix is the only self-serve solution tool in the world that effortlessly and instantaneously values media, in-venue, sponsorship assets, activation, and owned assets. Gain a better understanding of the strategic sponsorship fit and value generators of incoming sponsorship requests by contacting us for a personalized tutorial today.