Sponsorship Management : What Is Sponsorship?

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What is sponsorship?
Sponsorships are cash or in kind fees paid to an event, in return for access to commercial potential. (Activenetwork.com.au, 2015) It is central to the revenue and resources of either new or continuing events. (Allen, 2011)
Sponsors play a major role in helping raise the cash required for the event to take place. (Swinburne, 2015)
Sponsorship stimulates goodwill, which in turn influences consumer relationships with the brand. (Allen, 2011)
Sponsorship Management
For sponsorship management to be successful they must show the sponsor that you value them, proving to them the value they get from the event and positioning the value for the same event next year (if required).
Sponsorship Manager
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(Sports Community, 2015)

A work breakdown structure is a chart in which the critical work elements of the project is illustrated to portray their relationship to each other and to the project as a whole. The project manager, in this case the sponsorship manager, defines the key objectives first and then identifies the tasks required to reach those goals. (SearchSoftwareQuality, 2015)

Sponsorship Management has close ties with other management areas including: marketing, promotion and branding; finance; event logistics; tourism and OHS management.
Key Tasks and Hurdles
1.1 – Identifying Potential Sponsors
• Must look for companies that have sponsored other events that are of a similar theme to your own
• Create a list of the potential candidates
• Do some research about the companies that you are looking at
• Anticipate any needs that the company might need during the event (Anon, 2015)

When the event/ sponsorship manager is doing research for the potential candidates for sponsorship, the managers should look at how the sponsor is going to fit within the event. Some questions needs to be considered in this preparation phase: Is the company relevant to the theme? Are they complementary to the cause? Are they
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