Performance Planning 8
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1. Sponsorship is when a person or organization provides funds for an event or activity carried out by another in return for advertising or promotional opportunities. Companies sponsor music shows to generate consumer goodwill, increase brand awareness and sales, and align their brand to a music lifestyle. 2. Sponsorship of music events has increased as a way for companies to offset rising touring costs and find new promotional avenues as advertising channels have proliferated. Successful sports sponsorships also demonstrated sponsorship's effectiveness to corporations. 3. Organizers seek sponsors to help cover increased event costs like security and venues, while sponsors want to access niche audiences and provide entertainment for clients through sponsorship.
Performance Planning 8
- 1. Performance Planning 8 Music Performance & Sponsorship www.musicstudentinfo.com Chris Baker
- 2. Sponsor Definition(s) Person or organization that provides funds for a project or activity carried out by another. An individual or organization that pays some or all of the costs involved in staging a sporting or artistic event in return for advertising.
- 3. Sponsors relationship with event Sponsorship is a promotional techniques used by businesses, both large and small, for purely commercial reasons. It is a commercial transaction that the sponsoring organization enters into because it believes that the gig or festival will offer a communication link to its target market that is more effective than or complimentary to other promotional opportunities.
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- 5. Why do companies sponsor music shows ? 1. Generate consumer goodwill 2. Increase sales of products 3. Increase brand awareness 4. Align a brand to a lifestyle 5. Access niche markets 6. To entertain clients 7. To demonstrate product capabilities 8. Create merchandising opportunities
- 6. Increase in music sponsorship • Increased emphasis on Touring to generate lost record sales revenues • Sponsorship used to offset Touring costs • Increase in media outlets make it difficult to ‘cut through’ • Increased cost of TV advertising • Increase in TV channels provide increased opportunities for televised live music events • Banning of direct TV advertising in some areas (tobacco & alcohol) provide opportunities in others. These companies seek access using alternative methods
- 7. Increase in music sponsorship cont. • Enormous success in sports sponsorship shows corporations how effective it can be. • Companies increasingly need to ‘secure’ relationships by offering entertainment and hospitality to clients. • Cost of staging events has increased (police, security, council venues) organizers seek sponsors to offset costs.
- 8. CEDAR EEE Screener process used by business when assessing sponsorship proposals 1.Customer audience 2.Exposure potential 3.Distribution channel audience 4.Advantage over competitors 5.Resource investment involved 6.Event/Show/Tour characteristics 7.Event/Show/Artist reputation 8.Entertainment & hospitality opportunities
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- 10. Contacting Sponsors 1. Sponsors may be identified at first informally. 2. This next stage is to identify their marketing strategies. 3. Next contact the organization to establish name, address to who the proposal should be sent. 4. Once this is done a formal written proposal should be sent. 5. This will be followed by a phone call. 6. Once a sponsor agrees to sponsoring the show a business plan outlining reciprocal responsibilities should be drawn up.
- 11. Once agreed sponsor servicing costs include the following: • Event programmes • Tickets for sponsors • Additional printing • VIP parking • Signage production • Cost of selling • Support advertising sponsorship • Hospitality food & • Legal costs beverages • Taxis & transport • Telephone & fax • Evaluation research • PR support • Media monitoring
- 12. Learning Checks • Define sponsorship • Name a Popular Music • Define philanthropy & Artist & select a explain why it is not demographically sponsorship appropriate brand as a • Why do governments sponsor sponsor events • Explain your choice • Why is sponsorship increasing ly important to 1. Artists 2. Organizers