Some of the potential clients I am working with don't seem to understand that in order for sponsorship to really work they have to manage it.
It needs a hands on approach so that opportunities to add value can be quickly taken advantage of.
There are always possibilities that can solidify and reinforce your brand name together with the sport or endeavour that you choose to connect with. But the key is staying alert and watching developments especially in the media.
Simple things like adding a tasting (if food is your industry) or testing of your product. One of the marketing people I chatted with was astonished at how inventive and innovative I wanted to be with their sponsorship accounts.
The critical thing is to be opportunistic. Once the decision has been made about where the sponsorship budget is going then somebody has got to keep a watch over the baby.
Any sport that you get involved with would love to brainstorm ideas and have regular checkups to see which way the partnership is heading. We deal mostly with smaller sports and so the necessity for new ideas may be more important than it is in the bigger arenas but the principle remains the same.
Sponsorship money does not bring return on investment when left on a default setting. The approach has got to be constantly looked at and a measure of tender loving care would not go amiss while maintaining ownership of your brand.