MEASURING STRATEGIC SPONSORSHIP
VALUE MATRIX™
by Rose G. Blair
Smart corporations measure return on investment for their strategic sponsorships and report these results internally and externally. Measurement data is also used to inform decisions and keep the process aligned with the strategy.
It is challenging to collect data, produce user-friendly reports and manage the partnership process at the same time.
Many corporate sponsors are overwhelmed by the strategic sponsorship process and as a result, sponsorships are not fully leveraged. Typically, a small team is given responsibility for reviewing sponsorship requests, negotiating benefits, managing agreements and activation as well as logistics and on-site support.
The urgent priorities of booth staffing, event tickets, registrations, ads and short time lines prevent these professionals from focusing on the bigger picture. Their resources are exhausted before they effectively address key strategies like: relationship building, message delivery, employee engagement and measurement.
Sound familiar?
Howland PR clients have responsibility for all diversity categories: suppliers diversity, corporate diversity, corporate social responsibility, human resources, media and corporate communications. Strategic partnerships are a key element of their diversity communications strategies because, when leveraged effectively, these relationships deliver important benefits. They are high stakes relationships with the potential to impact the bottom line.
Sponsors can’t afford to miss key opportunities to build their brands and secure the best possible benefits to enhance their business objectives. They need to invest their time in building strong relationships with national organizations and thought leaders. Howland PR’s onsite support services give our clients the freedom to work on relationships and actually participate in conference programming. The results are amazing.
Howland PR’s value proposition is more than event planning expertise, we also have a unique focus on measurement. We have helped clients to measure diversity communications results for many years. We take pride in negotiating strategic sponsorship packages for our clients, activating the benefits, collecting the data and reporting the results. Our process adds value for the sponsor and the organization.
When we began to investigate measurement systems, there were some tools available. However, we did not find a comprehensive tool for our clients and their diversity communications needs.
In early 2005, Howland PR took on the awesome challenge of elevating our in-house measurement system to a new level. Our goal was to collect and analyze data on strategic sponsorships.
Howland PR worked with a data base programmer to custom design an information model that allows us to track data. We call our proprietary data base system VALUE MATRIX™. Our team of public relations professionals is now able to create and analyze reports and make strategic recommendations to our clients. VALUE MATRIX™ data answers questions, identifies trends and measures return on investment or return on event.
VALUE MATRIX™ customizes over 50 different best practice reports based on client needs. To view sample VALUE MATRIX™ reports, click here
Corporations demand more accountability and VALUE MARTIX™ helps track the planning process. measure investments and results. Although many national organizations offer sponsor reports, they are not provided in a consistent format that allow our clients to compare apples to apples.
VALUE MATRIX reports are well organized and consistent from year to year. We designed the system to address four key components for our clients:
1. BENCHMARKING
What is the status of our strategic partnership program? What are our criteria for participation with external partners?
How do we know when the program is successful? How does our position rank against our peers and competitors?
2. PLANNING AND BUDGETING
What are we trying to accomplish and how do we get there? Are we negotiating the best sponsor benefits for our goals?
When it’s time to make budget decisions for next year or report on this year’s results, will we have the data?
3. MEASURING RESULTS
Are the results in line with our strategic goals for each audience? Are opportunities being fully leveraged? What are the per person costs vs. communications value of each partnership.
4. COMMUNICATING
Are we all working from the same sheet of music? How do we communicate logistics and results to internal stakeholders?
How do we share challenges and opportunities with our external partners in order to have continuous improvement and increased value?
The unique consulting services offered by Howland PR are designed to help our clients to fully leverage their sponsorships and give them the freedom to do what they do best: build their reputations with diversity audiences.
About the Author
Rose Blair is vice president at Howland PR, Inc. Before joining the Howland PR team, Ms. Blair served as the Sponsorship and Leasing Manager for the MGM Grand Hotel and Resort in Las Vegas, NV.
|
