This article examines sponsorships and advertising as methods for making cost breakthroughs and generating extra revenues. Let’s start with sponsorships.
What do I mean by a sponsorship? It is any way to combine recognition with providing access to desirable prospects and customers for someone who, or an organization that, makes a payment or otherwise subsidizes an activity. Sponsorships are more important than ever because they help marketers avoid being lost in advertising clutter by providing higher visibility and prestige to the sponsor. When a sponsor pays you, that’s income to offset costs you cannot otherwise reduce. The effect is similar to simply reducing costs.
As the primary benefit, sponsors are usually looking for access to attractive prospects for their offerings. In many cases, your prospects and customers are also highly appealing for other companies and nonprofit organizations, making them interested in sponsoring your activities.
You may have observed some