What is the role of sponsors in sports event management?

1 Types of sponsors

Different types of sponsors can contribute to a sports event, depending on the level of involvement, commitment, and exposure. Title sponsors are the main sponsors with their name and logo associated with the event's name and branding. They usually pay the highest fee and have the most rights and benefits, such as exclusive advertising, media coverage, and VIP access. Co-sponsors are secondary sponsors that share some of the rights and benefits with the title sponsor, but have a lower fee and exposure. Official sponsors provide specific products or services to the event, such as food, drinks, equipment, or transportation. Supporting sponsors offer a lower fee or in-kind support to the event, such as donations, prizes, or volunteers. All of these sponsors have their name and logo displayed on various materials related to the event and may receive some recognition or appreciation.

2 Benefits of sponsorship

Sponsorship can bring many benefits to both the event organizers and the sponsors. For organizers, sponsorship can help cover costs, reduce financial risks, improve the quality of the event, and reach a larger audience. For sponsors, it can increase brand awareness and recognition, create positive associations and emotions, generate leads and sales, build customer loyalty and retention, and demonstrate social responsibility. Ultimately, sponsorship can help enhance the reputation and credibility of the event.

3 Challenges of sponsorship

Sponsorship can pose some challenges to both the event organizers and the sponsors. For organizers, it can require a lot of time and effort to research, contact, negotiate, and manage sponsors, create and deliver sponsorship packages, monitor and evaluate performance, and ensure sponsor satisfaction. It can also create conflicts of interest or ethical dilemmas if the sponsors' values or practices are incompatible with the event's goals or principles. For sponsors, it can involve a significant investment and risk, as they may not achieve desired outcomes or returns. It can also create competition or confusion if the sponsors' products or services are similar to those of other sponsors or the event itself, or if their messages or strategies are inconsistent or unclear.

4 Best practices for sponsorship

To overcome the challenges and maximize the benefits of sponsorship, both the event organizers and the sponsors need to adhere to certain best practices. For organizers, it is important to identify and understand their target sponsors, design attractive and customized sponsorship packages, communicate and collaborate with sponsors effectively, deliver and report on sponsorship activities and results, and acknowledge sponsors' contribution. For sponsors, they should select events that are relevant and suitable for their brand, negotiate and agree on fair terms, plan creative activation and promotion that enhance the event's theme, measure their sponsorship impact and return, and assess their performance.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?