Even in a crummy economy, sponsorship remains strong. Why is this?
Well, there are several reasons. For one, sponsorship “bundles” media which means you can have a very rounded out, smart program with a single purchase, which means alot of the heavy marketing lifting (buying media, designing programs, etc.) is done for you. All that’s left for the sponsor to do is come up with a brilliant activation program (easier said than done).
Where I live (Oahu) there was an article in the PacBizNews about the strength of sponsorships in Hawaii. It specifically addressed the upcoming Sony Open and Hawaii University sponsorships. Despite the recent Tiger Woods hoopla, the Sony Open is holding its own with sponsorships. Mainlander’s reading that article will note the aggressive rates for sponsorship here, particularly for the Sony Open where there is national media exposure. If you buy sponsorships in golf, take a look at the Sony Open, talk about value! It is ironic because as several testimonials note, Hawaii businesses “get” the value of relationships that sponsorships offer, yet our sponsorship rates here are quite low. In general, businesses in Hawaii understand relationships in a way that mainland businesses miss. Sometimes, corporate America – especially in a recession – forgets the value of meet with people face-to-face, in a relaxed and fun environment. Shared experiences create relationships, period. A phone call does not create a relationship. An email does not create a relationship. Going to an event together does. Hawaii businesses don’t need lessons in creating relationships, for the most part, their business IS relationships. Which is one reason why sponsorship remains strong in this market.
Hopefully Hawaii’s smaller businesses (85% of the business community in Hawaii) will take note of some of these opportunities. Whether you choose to be affiliated with a highly visible national event or a highly targeted local event, there are sponsorship opportunities out there. There are some great Honolulu networking events and Hawaii is a destination for several other high profile sporting events that really make for some interesting niche market opportunities.
If you aren’t sure what a good sponsorship opportunity for your company would be, or how to pursue or negotiate a sponsorship, or if you are a mainlander and would like to sponsor events in Hawaii, call me. I’ve sold and packaged sponsorships so I know what to look for and how to negotiate them. I can help you find and activate a program that is suited to your budget and your objectives.