Determine the Benefits of Corporate Sponsorship
Ask any successful business what their secrets are and you can bet one of them is a good public relations department. With marketing being a key aspect in promoting your business or services, you can take it one step further and weigh the benefits of corporate sponsorship to see if this strategy is right for you.
Instructions
1. Know your current marketing approach. If you're not using corporate sponsorship presently, evaluate how your advertising is going and what revenues you're generating from those advertisements.
2. Ask about the use of your corporate sponsorship. Know if the advertisements will be on billboards, logos on cars, in magazines, corporate events and commercials.
3. Set a budget. Sponsorships can be minimal or great in monetary value, or service related. Choose an amount of sponsorship based on what you're expecting out of the promotions and advertisements.
4. Determine a time frame. In order to determine the benefit of your corporate sponsorship, you'll want to participate in a trial run for a predetermined period of time.
5. Keep track of your corporate sponsorship. Compare your advertisement responses from Step 1 to the responses after the trial run in Step 4. Make notes to determine if there's a true benefit from your corporate sponsorship.
6. Extend your sponsorship. If your trial run has proven successful so far, move forward to determine the long-term benefits. You can grow your sponsorship and increase the budget to improve your goals.
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