S LIKE SPORT SPONSORSHIP.
To understand sponsorship from a marketing perspective is to understand it as part of a full scale dynamic evolution taking place in communication. Let’s step back once to understand the basic principles by a contemporary definition.
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WHAT IS SPONSORSHIP?

The term ‘sponsorship’ refers to any commercial agreement by which a sponsor, for the mutual benefit of the sponsor and sponsored party, contractually provides financing or other support in order to establish an association between the sponsor’s image, brands, or products and a sponsorship property, in return for rights to promote this association and/or for the granting of certain direct or indirect benefits.

(The Consolidate ICC Code of Advertising and Marketing Communication Practice – 15th Sept 2011)

2019 Sponsorship global market sizes:

  • Global Sponsorship  62,3 bil€
  • European Sponsorship 30,1 bil€
  • European Sport Sponsorship 20,6 bil€
  • Italy Total Sponsorship Market Value 1,94 bil€
(Main sources: ESA London, 2020 and Nielsen Sport)
PROPERTIES
“Property is commonly used to describe “any organization, event or athlete with whom a sponsor formally aligns itself as a vital component of its communication strategy” – Farrelly & Quester 2005 –

At some point after drawing up a sponsorship consideration your company will commence the process of finding the sponsorship relationship to fit its business strategy and help satisfy the marketing objectives.

This journey might take a very short or a very long time. The complication and longevity of the process may depend on the way Motorsports and road racing territory is defined within your strategy.

‘GOOD FIT’

Matching sponsorship properties against strategic brand needs is a multi faceted process requiring considerable evaluation

Often at the head of reasons behind a sponsorship choice, despite the many available quantitative and qualitative methodologies, is a measure which simply involves ‘good fit’. This means there is a strong and logical connection between both the sponsor and the property. 

Studies have proved that the fit between an event and a sponsoring brand is enhanced where there is connection between the two, either:

1
funcional the brand or the product is actually used in the event
2
‘image based’ an abstract mutual perception of values and drivers for growth
(Gwinner & Eaton, 1999)
Good fit is often and entirely instinctive, emotional reflex taken by an experienced manager in conjunction with considerable knowledge and understanding of his company and brand. 
THE BEST SPONSORSHIP ARE RELATIONSHIPS
By touching the heart of those involved, great sponsorships create life-long bonds that define the culture of a brand.
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According to Anne-Marie Grey and Kim Skildum-Reid, authors of several studies about sponsorship dynamics and strategies, “Sponsorship is the most inclusive of marketing media (…) the most personal and emotionally relevant of all marketing”. By Sponsor’s toolkit the authors underline that the goal is not to get people to buy the brand, it is to get people to join the brand.

Getting people to join your brand involves more than merely impressions. It requires marketers, or the agency, to create the desire for customers to personally identify with your product and select it among alternatives, again and again. 

The job of the professional racer or the duty of a marketing agency like Sponsor Square is to help elevate the desire among the brand’s target market.

If you want to define your sponsorship policy or even if you already have it and are curious about to renew it or revise some point for evaluation write to info@sponsorsquare.com 
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