Sponsor

economic-dictionary

The sponsor is in charge of sponsoring a specific activity, project, or event in order to also give visibility to its brand.

The sponsor is a sponsor, and as such collaborates in the implementation of a project by contributing and providing money, material goods, food, a place where it takes place, promotion, or any type of collaboration previously agreed with the person in charge of the event, or draft.

When a sponsor participates in these types of actions, its objective is to publicize its brand, expand the number of clients and strengthen its presence.

Sponsor types

These are the main ones:

  • Monetary sponsor. In this case, the brand contributes an amount to the event, or project to be carried out, or distributed in the best way based on its needs. It is the most common way of collaborating in this type of action, especially if the big brands do it.
  • Material collaboration.The sponsor reserves its right to participate by providing materials, or places for it to take place. For example: the jerseys for a soccer team at a charity game.
  • Media sponsorship. On this occasion they are about the sponsorship of a communication medium, which has access to privileged information, and offers every detail of the event. This type of collaboration is characteristic of large events or large-scale project presentations.
  • Nominative sponsorship. This type of collaboration is very typical when it comes to sporting events. The brand gives an amount so that your name is the one that reads the stadium, or the event. In this way for years everyone will know that place by the name of that brand.

Phases to get a sponsor

The following must be taken into account:

  • You have to assess the type of event, and what audience it is aimed at. This is necessary to know if it is of interest, or not, since one of the objectives is to publicize the brand itself. For example, if the company is a physiotherapy company, a sporting event will be interesting, but if it is a gastronomic action, it may not make much sense. Therefore, it is necessary to assess the type of public that will attend.
  • It will be necessary to know what the creator of the event, event or project needs and if it is in the hands of that company to be able to collaborate in any way, and reach agreements for it.
  • Solidarity events are a way of offering support, and also building a good brand image, so it is advisable if you want to sponsor an action of this type, value them.
  • The objectives of the sponsorship must also be clear from the beginning. What is intended to be achieved with this option? Notoriety? Customers? Visibility? Presenting a brand to a booming local society? A series of questions must be asked and answered to participate as a sponsor and achieve the proposed objectives.

What is the difference between sponsor and patron?

Sometimes they can get confused. These are the most prominent differences:

  • The patron does not intend to achieve commercial benefits immediately, or directly. It is usually a person, or entity with great purchasing or social power, who is in charge of helping artists to launch their projects.
  • The sponsor participates in events, or projects, but if it intends to make its brand more visible, or there is a favorable economic impact in the form of increased customers, or profits through recognition and participation.

Tags:  history finance Argentina 

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