Going global is the dream of almost every business that passes a specific size. The global market offers limitless potential in terms of bottom line and exposure to a new audience. Global sponsorship is an exciting thought, but approaching the decision lightly could cost a business more than it bargained for in the long run.
Being a large company in a national market means nothing on the international stage. When competing against other global sponsors, the stakes can become extremely high, and success is at a premium. To advise businesses that are planning on going global, 13 associates of Forbes Agency Council share the essential considerations a company should have before setting foot into the world of global sponsorship.
Members share some important considerations when you’re seeking a global sponsorship.
Photos courtesy of the individual members
1. Activation
There should be an expectation of a commercial return for every sponsorship so you should know how you are going to measure success. The true value lies in the activation of the sponsorship. You need to consider this additional cost on the front end to make sure you can allocate enough budget and resources to plan, organize and execute the activation opportunities. – Brian Sullivan, Sullivan Branding
2. Local Insights
Before pursuing a global sponsorship, businesses should always make sure they have a partner in every market who knows the local values. The main message should be global, the executions local. – Pascal De Decker, THE UNKNOWN
3. Brand Alignment
While global sponsorships can be very effective at reaching a massive customer base, you must ensure there’s nearly 100% alignment of company culture, corporate values, brand promise and perception. Focusing on these attributes will ensure not only increased awareness and market share, but also heightened brand resonance and perception. – Carey Kirkpatrick, CKP
4. Sponsor Awareness
One thing that is very important is ensuring that people know the global sponsors for the brands you are touting. That means that it is important to do your homework on the brands before adding them to the list of things people should be aware of. You need to know that the sponsors that you are using and adding are going to resonate with your clients. – Jon James, Ignited Results
5. Your Market Position
Understand that every brand is different. Over- or underestimating the consumer perception of your brand in advance of spending money on a global sponsorship will damage your ability to achieve ROI. Further, you need a clear goal. What will this achieve? If you can’t measure your goal it’s because you don’t understand it. – Christine Wetzler, Pietryla PR
6. Age Of The Target Audience
It is very important to know the age group that your sponsored event, organization or individual attracts. Many brands just go for huge numbers and that’s why they get low ROI. If you sell cars and your target age group is 25 to 65-year-olds, then sponsoring the EA eWorld Cup would be of no help for your brand, despite having 47 million viewers, because the average viewer age was below 15. – Vishal Jain, Sunshy Group Of Companies
7. Alignment Of Overall Objectives
Aligning with a partner which matches your objectives is important for the overall success of the sponsorship. Objectives can be different but there should be some overlap for a global sponsorship campaign. Setting the right plan in place from the start can make sure both businesses will benefit and working together will go smoothly. You can build key performance indicators into the contract. – Gina Michnowicz, The Craftsman Agency
8. Value Alignment
Michael Jordan enhanced Nike’s global value and sales because they shared the same values and because Jordan’s public image was carefully curated long before he joined up with Nike. Celebrity brands, which are often global, are subject to change. I advise looking for a history of carefully-curated public presentations of the brand and their match to your values. – Randy Shattuck, The Shattuck Group
9. Role Of Your Business As A Global Citizen
The climate emergency is a global concern, and a global sponsorship is a powerful message platform. The consideration is how your business will commit to lowering the environmental impact of its operations globally. The future of the planet is a concern to all, and the “business as usual” approach to environmental health and sustainability is outdated. – Serenity Thompson, A23 Advisors
10. Whether Your Product Is Global-Ready
Crawl before you walk, and walk before you run. Understanding if your product or service is “global-ready” would be the first step before pursuing a global sponsorship. Once you can use supporting metrics and determine if your product/service is global-ready, do the same to ensure you can actually meet the potential demand. – David Kley, Web Design and Company
11. Your Partner’s Audience And Social Presence
When looking for global talent to support a brand, two things are vital. First, determine if they have a social presence that matches their price tag. You will no doubt be paying for social posts, and if their reach is not high enough, you will be paying just for the person. Secondly, who is their audience and will they buy your product? For this, look for reports on their audience’s brand affinity. – Emilie Tabor, IMA – Influencer Marketing Agency
12. Trust And Reliability
A global sponsorship is a partnership and you need to be confident you trust the other partner to deliver. Have you done your homework with other sponsors on their reliability? Does the contract clearly define their deliverables? Does it feel right in your gut? Are you comfortable with the partner? – Jim Heininger, The Rebranding Experts
13. Crisis Preparedness
Companies do not intentionally choose to sponsor events or celebrities that may cause a crisis, but you must be aware of this possibility going into any contractual relationship. You need the ability to sever the relationship and distance your company from a crisis. Having a crisis communications plan in place is a first step. – Jim Caruso, M1PR, Inc. d/b/a MediaFirst PR – Atlanta
