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ASSIGNMENT INSTRUCTIONS:
In class this week, we talked about the Relationship and Network Approach to sponsorship
strategy. Effectively, this involves leveraging the complementary nature of the broader network
of partners in a property’s portfolio to allow all parties to better accomplish their objectives. We
talked about how this can manifest in a variety of forms. In this activity, I will ask you to focus
on either a sponsor cross-promotion or a media cross-promotion.
Develop a 1 – 2 page proposal (double-spaced, 12 pt font, 1” margins) for a leverage
extension using sponsors/media partners from a property of your choice. Within this
proposal be sure to address the following:
o All relevant parties [i.e., property, sponsor(s), media partner(s), etc.]
o How do the various parties complement one another?
o How will this cross-promotion be leveraged? That is, specifically and in
detail, how will this cross-promotion be brought to life?
o What are the primary objectives of this cross-promotion? How do the various
parties benefit, perhaps in ways they wouldn’t if done individually? Explain how
the approach to leveraging the sponsorship will allow for the attainment of these
objectives.
HOW TO WORK ON THIS ASSIGNMENT (EXAMPLE ESSAY / DRAFT)
Introduction: In today’s world, the relationship and network approach to sponsorship strategy has become crucial for the success of businesses. In this essay, we will focus on a sponsor cross-promotion or a media cross-promotion for a property of our choice. The goal is to leverage the complementary nature of the network of partners in the property’s portfolio to help all parties achieve their objectives.
Relevant Parties: For this proposal, we will focus on a property called “The Wellness Center.” The Wellness Center is a state-of-the-art facility that provides healthcare services, including medical treatments, fitness classes, and nutrition consultations. The relevant parties in this cross-promotion will be The Wellness Center, its sponsors, and its media partners.
Complementary Nature: The Wellness Center’s sponsors and media partners complement the center by providing additional resources that can enhance the experience for the center’s members. Sponsors provide financial support, while media partners offer additional exposure through marketing and advertising.
Cross-Promotion Leverage: To leverage the sponsor cross-promotion, The Wellness Center can partner with a company that provides nutritional supplements. The nutritional supplement company can provide discounts to The Wellness Center members, and in return, The Wellness Center can promote the supplement company’s products to its members. This cross-promotion can be brought to life through various channels, such as email newsletters, social media posts, and posters within the facility.
Primary Objectives: The primary objective of this cross-promotion is to increase membership retention and acquisition for both The Wellness Center and the nutritional supplement company. The supplement company can benefit from increased product sales, while The Wellness Center can benefit from enhanced member satisfaction and engagement. This approach to leveraging the sponsorship will allow for the attainment of these objectives by offering a win-win situation for all parties involved.
Conclusion: In conclusion, the relationship and network approach to sponsorship strategy can be a powerful tool in helping businesses achieve their objectives. By leveraging the complementary nature of the broader network of partners, businesses can create synergies and improve their overall performance. This sponsor cross-promotion for The Wellness Center is an example of how this approach can be effectively utilized to bring mutual benefits to all parties involved.
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