The Success of a Sponsorship in the eyes of the sponsor
The sponsor could consider a sponsorship successful based on the work input for the fulfillment, value beyond the physical events, a successful picture painted on by the recipients about the objective of the sponsorship, understood the message, the timing, ego or return on investment (ROI) and the numbers among other factors. A sponsor driven by ROI will consider sponsorship success differently from the one driven by ego. In the case of an ROI –driven sponsor, their definition will be noticeable in their initial intention to sponsor. The ego-driven sponsor often sponsors for associations such as sponsors of sporting events or cultural events. The ROI-driven sponsors measure the success of the sponsorship with the levels of success in the sponsorship's economic value. The basis of the whole process will be on budgets and financial outcomes of every activity or event. ROI-driven sponsor focuses on metrics and will consider success when the economic metrics are favorable to the sponsorship's financial objectives. On the other hand, the ego-driven sponsor will determine success depending on the sponsoring organization's imagery outcome. The sponsor wants to see the name of their firm look positive and get popular with the events, get more shouted from the rooftops, get more associated with the vents and elevate their brand in the eyes of peer firms and potential customers (Silva, 2020) . The ROI-driven sponsor will focus on the PR coverage equivalent of the advertising value, the number of prospects and clients entertained, returns on marketing campaigns, and awareness, understanding, or preference levels among potential clients.
KPIs used and tracked to determine Sponsorship Success
The primary key performance indicators used and tracked in the determination of sponsorships' success include the lift analysis of the transactions, customer counts, web traffic numbers during and after events, and the social traffic during and after the events. The bottom-line of the KPIs for the sponsor is to observe noticeable patterns, spur business growth, and engage in pivotal activities that directly contribute towards effecting changes that will lead to the achievement of the sponsorship objectives (Wakefield et al., 2020). The KPIs will be a measure under objective metrics of brand awareness, target market perception, brand exposure, target market attitudes, brand engagement, target market behaviors, brand affinity, sales growth, public relations, and sales growth and database acquisitions.
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Directly or Indirectly Measurable KPIs
Brand awareness is measured directly during and immediately after the event(s) using hashtags both before and after the campaign period to determine the sponsorship's success in reaching clients and potential customers through special media channels with online and offline promotion. The database acquisition numbers are direct measurements as they will be, measured after the events by checking the database numbers and the emails –cum-names provided by attendees of specific targeted market promotions for the sponsorship. Public relations is an indirect KPI measurement that relies on the number of attendees of sponsor events, which are based on planned schedules such as launch parties or event hospitality. Publicity will be an indirect KPI measurement since it counts the number of featured stories on media channels, with the stories' sizes and placement. Since these stories depended on generated media releases or photo opportunities of promoting in the sponsorship of events, they will be measured after the activities are done. Sales growth will be directly measured as the sales data can be acquired and posted to the sponsor in real-time. The system can be configured to share the number of total sales and sales per product with their conversion rates by applying special coupons or codes redeemed during the campaign periods. Santos et al., (2019) affirms that KPIs' metrics and mechanics are essential to continuously and regularly measure to determine the sponsorship progress and determine strategy changes whenever necessary and increase success chances.
References
Santos, D., Alonso, M., Moreno, F. C., & Franco, M. S. (2019). Congruence and placement in sponsorship: An eye-tracking application. Physiology & behavior, 200 , 159-165.https://doi.org/10.1016/j.physbeh.2018.05.032.
Silva, A. (2020). Fans identification: the bright side of football sponsorship effectiveness. Journal of Sport & Tourism , 1-17.https://doi.org/10.1080/14775085.2020.1824800.
Wakefield, L., Wakefield, K., & Keller, K. L. (2020). Understanding Sponsorship: A Consumer-Centric Model of Sponsorship Effects. Journal of Advertising , 1-24.https://doi.org/10.1080/00913367.2020.1751011.
