Handling corporate sponsorships is usually quite the difficult task as it includes various crucial moving parts in order for it to succeed. It entails convincing an individual or businesses to invest in an event that may or may not be successful.
In a company, the one who usually handles the corporate sponsorships of its events would be the corporate sponsorship manager. As such, handling sponsorships is a big task and must be done by someone who really knows what they are doing aside from the usual academic credentials. Someone who has had extensive experience in the industry and great grasp of the landscape. Therefore, it is important that a great corporate sponsorship manager possesses certain traits that will enable him or her to do the job properly and succeed in the process.
Let us take a look at some of the important traits common among good corporate sponsorship managers that enable them to perform and do great at their functions.
1. Must be able to think creatively and critically
The ability to think critically in acquiring and securing sponsorships is one of the most important traits a successful corporate sponsorship manager must possess. A corporate sponsorship must always cater to the sponsor and keep their key objectives in mind when tailoring proposals and especially when planning and executing the event. With this, acquiring sponsorships and convincing sponsors to tie up is about knowing what they want. The process involves thorough market research and segmentation. Also, having data-driven perspective when making of sales and social reports are important. Through all of these, opportunities must be found in the event that will appeal to the potential sponsor. Such task would entail a lot of critical thinking and analysis.
Other than that, the sponsorship manager must also think creatively. Creatively in a sense that his or her ideas must be different in order to appeal to sponsor. It also takes innovation in order to come up with a way to get the sponsor to tie up.
Having someone who possesses such traits is extremely important when it comes to handling the sponsorship program and lead its success. In companies that may require big departments, the whole team would need a balance of both creative and analytic people and not just one person who is good at everything or generalist. The team must also be able to work together through leverage and measurement in order to ensure the event’s success.
Leverage is another thing to consider since sponsorship leverage can be in several forms. However, one of the most common leverage for most sponsors are its marketing channels and budgeted activities. This type of leveraging would entail plenty of internal buying in from various departments and it requires someone both analytic and charismatic to pull it together.
2. Must be a born leader
In order to do this type of work, the manager must be a natural leader who has the ability to come up with novelty ideas that will appeal to the stakeholders and can also ensure that such idea that will come to life. This type of job will require quick thinking on the feet, strong analytical skills, creativity and natural leadership often required at some of the most challenging situations.
3. Must understand all key marketing functions
A corporate sponsorship manager needs to have a deep understanding of the marketing functions and other facets of marketing that may be required to make the sponsorship work. The sponsorship manager must know all aspects of marketing in order to be able to push the proposal for the event for the sponsor to consider tying up with other respective departments.
Some of the key marketing functions are the external key functions which are the guests or attendees, the internal functions which would include the team and the staff, and the intermediary functions which would include retailers, suppliers, and dealers etc.
It is also important to have someone who not only has traditional sales and promotions experience, but also have comprehensive 360 degrees of marketing experience. Other types of backgrounds that are needed for the job would be franchise management or VIP relationship management in order to fully integrate all the important moving parts of the sponsorship.
4. Must be a great negotiator
Sponsorship entails various stakeholders and since a bit of sales would be involved, then being a good negotiator is very important to be able to succeed in this role. It is important to remember that the partnership between the sponsor and the organizer is always a win-win situation. The collaboration between the two parties always start during the negotiations so a person who can find out what the sponsor wants to accomplish is needed. Also, a person who can negotiate for those needs are also needed for the success of the collaboration.
5. Must have some political knowledge
The reason why sponsorship can be very powerful is because people care about it and actually put so much effort and emphasis in joining such activities. Of course, people inside the company also do as well. However, people are inside the company don’t usually know much about sponsorship which means they don’t know about what is good practice or not.
Internally, it’s important to handle expectations of let’s say, the senior executive with regards to the sponsorship. This would require a little bit of political know-how in order to handle the high ranking guests and stakeholders involved.
6. Must be results-oriented
Being results oriented is also extremely important trait when it comes to being a corporate sponsorship manager. The result or the end-game of the sponsorship is always about making sure that one or more marketing objectives are met. These objectives may include changing the target market mindset and changing the perception of the participants so having someone who is not only goal-oriented, but most importantly someone who is able to track the success and optimize when needed is very important.
7. Must be passionate about the industry
Being passionate about sponsorship is very important because someone who is passionate about something will always do well when compared to others. Most people who get into this field are usually already fans about things that they sponsor. A sponsorship manager is someone who loves working a challenge for a brand and for the fans. It is also important to find someone who is enthusiastic about what they do.
8. Must always observe the best practices
Lastly, it is important for a good corporate sponsorship manager to always observe best practices. Do remember that even in the field of sponsorship,there are best observed practices that have to be followed. These best practices are to be followed because they are the proven and standard practices that would lead to successful sponsorship activities.
In getting the right candidate for the job, it is important to look at these great traits that will enable a sponsorship manager fully function and succeed in the job. In sponsorship acquisition, getting all the help will be good for successful and fruitful collaboration between sponsors and organizers.