Sports Sponsorship

Marketing managers have different views on sports sponsorships.

First of all there is the definition of sponsorship. Numerous companies have adapted the use of sponsorship as one of their major promotional tools. But what exactly is this tool?

Sponsorship is a business agreement between two parties, wherein one provides support for the other. These parties may be an individual person, a group of people, or a whole organization.

The word ‘sponsor’ simply indicates a person or organization willing to represent and vouch for a certain thing, individual, or group. The sponsor’s support may be through providing funds, products, or services.

The sports organization, on the other hand, creates itself as the representative of the sponsor. Their main duty is to promote the name of the sponsor, be it a large company or individual. Their exposure would usually be through advertising and media avenues, and in turn promote the sponsor’s name and the product or service they provide.

This business relationship that is created is a partnership between the two parties. Sport organizations should get long-term sponsorship agreements, so you don’t need to get sponsorship every 6 months or year. The longer the business relationship lasts, the greater the benefits and value that can be acquired by both sponsor and sport organization.

Usually sponsors look for ‘returns’, be it commercial or personal.