What Is Sponsor? Definition of Sponsor, Sponsor Meaning and Concept
The sponsor is responsible for sponsoring a specific activity, project, or event with the aim of also giving visibility to your 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 is developed, promotion, or any type of collaboration previously agreed with the person in charge of the event, or draft.
A sponsor's objective when participating in this type of action is to publicize its brand, expand the number of clients and strengthen its presence.
Types of sponsor
These are the main ones:
- monetary sponsor. In this case, the brand contributes an amount to the event or project so that it can 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 football team in a charity match.
- media sponsorship.This time they are about the sponsorship of a media outlet, which has access to privileged information, and offers every detail of the event. This type of collaboration is characteristic of large events, or presentations of large-scale projects.
- Named sponsorship. This type of collaboration is very typical when it comes to sporting events. The brand gives an amount so that its name is the one that prays 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 the audience it is aimed at. This is necessary to know if it is interesting or not, since one of the objectives is to make the brand itself known. For example, if the company is physiotherapy, 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 some way, and reach agreements for it.
- Solidarity events are a way to offer support, and also build a good brand image, so it is advisable if you intend 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 achieve with this option? Notoriety? Customers? Visibility? Introducing a brand to a booming local society? A series of questions must be asked and answered in order 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 notable differences:
- The patron does not intend to achieve commercial benefits immediately, or directly. He is usually a person, or entity with great purchasing or social power, who is in charge of helping artists to sell their projects.
- The sponsor participates in events, or projects, but if he intends to make his brand more visible, or there is a favorable economic impact in the form of increased customers, or profits through recognition and participation.