Assume you work for an athletic department at a local high school. Because of recent budget cuts that have plagued interscholastic sport, you are looking to raise money for the department. Golf tournaments are a great way to secure funding from various sources, including sponsors. The local golf course has donated the use of the course for your event. You must now solicit your sponsors.
- You begin the process with goal setting. What are your goals for this event?
Hint: Goals should cover some of these categories: financial, event, participant, volunteers, facility, location for future events, specific sports, equipment, and athletic committee funds.
- How would you begin to identify potential sponsors? Are there any sponsors you should be leery of approaching? (Remember your product.)
Hint: First look to local businesses that have typically supported the school. Family members of each athlete are connected to businesses that might want to support high school athletics. Once you have exhausted the local and family list, look for independent franchisees who might want to promote multiple locations. Don’t overlook service industry companies―contractors, electricians, plumbers, insurance agents, dentists, and doctors.
- Identify the parties of the event triangle. What are the investments of each?
Hint: The event triangle consists of the event, the sponsors, and the fans. It represents the emotional connection between an event and the fans that turn emotion into a reaction that ultimately benefits the sponsor.
The relationships within the event triangle can be described in three distinct but related parts. First, the event provides the opportunity to attract fans and provide exposure for potential sponsors. Second, fans seek entertainment from the event and are exposed to the various promotional activities during an event. Third, sponsors exploit the opportunity to leverage fans through what we call borrowed equity, or marketing through sport.
- Categorize the levels of sponsorship you will use. (This may require you to research similar golf tournaments for ideas.)
Hint: Below is a list of typical sponsorship levels:
- Title or presenting
- Platinum, gold, silver, bronze (or some combination of these)
- Hole in one
- Closest to the hole
- Beverages and snacks
- Lunch
- Reception and awards
- Goody bags
- What benefits will you provide to sponsors (i.e., what differentiates the levels you have established)?
Hint: Some typical items would be the following:
- Company logo on specified items, banners, and cart signs
- Teams or a team in the tournament
- Tee box signs for hole sponsors
- Items included in the goodie bag
- How will you present the ROI and the ROO to the potential sponsor? How will you evaluate?
Hint: ROI and ROO refer to the effectiveness of the investment in either monetary terms (ROI) or in accomplishing the goals set for the sponsorship (ROO). ROI for the event can be determined by a simple equation:
[(total sales revenue – total cost of the event)\total cost of event] * 100 = ROI
ROO is not measured by a formula but rather is a comparison of the attainment of the goals that were established before the event.