Companies have the opportunity to engage in a variety of different sponsorship opportunities. Some of them are philanthropic, some are industry-specific, and some are business development opportunities. For the sake of this post, we are going to focus on the business development sponsorships.
Sponsorships, like any initiative, should always be measured with a business development-specific ROI in mind. They are an investment in your brand and a way to encourage prospective clients to engage your services and/or product. That is why it is critical for owners and marketing personnel to map out strategies and policies at the beginning of their fiscal year so that there is no confusion from staff and a company is not throwing away precious resources. Here are a few tips to keep in mind: