By Paul Birdwell (paul@roaringforkagency.com)
With the XXII Winter Olympic Games in Sochi, Russia now over a week into competition there is something that is never far from our minds here at the Roaring Fork Agency when we are talking to companies about becoming sponsors of the events we represent is the amount of investment required beyond the cost of sponsorship which is otherwise known in the sponsorship business as the….
Cost of Fulfilling the Sponsorship
IEG (www.sponsorship.com) has done some great work over the years clarifying and quantifying the amount that corporate sponsors spend on Fulfilling their Sponsorships in Events and this past week IEG put up a great presentation that details all that the largest Olympic Sponsors do in and around the Olympic Game to make their large sponsorship investments payoff which is worth anyone’s time that has an interest in the world of sponsorship.
Below is an example of one of the Sochi Sponsor Profiles that IEG has put together for the largest corporate Olympic Sponsors with this profile detailing Coca-Cola’s Sponsorship Fulfillment Efforts around the XXII Winter Olympic Games in Sochi:
As we recently detailed in the Roaring Fork Agency Blog…
….Olympic Sponsors will spend around…
$100 Million Dollars
….to be a major sponsor of the Olympic Games and then spend…
$300 to $400 Million Dollars
….to make that sponsorship really pay off for their companies which is a ratio of…
Sponsorship Cost to Fulfillment of Sponsorship Cost
….that companies now sponsoring events or that are considering sponsoring events in the future should keep in mind if they really want their sponsorship investments to payoff in more customers, revenues and profits which in the end if the bottom-line of any marketing/advertising expenditure.
For sponsorships less than $1 Million Dollars we here at the Roaring Fork Agency usually tell companies sponsoring events we represent that they should expect to invest….
1 Times
….the cost of the underlying sponsorship if they really want the most bang-for-the-buck from their sponsorship efforts which for example means that a company spending….
$100,000
….on a sponsorship should expect to invest another…
$100,000
….fulfilling that sponsorship investment to really make it payoff for the company, for the event and in the marketplace.
IEG – www.sponsorship.com
XXII Olympic Winter Games – www.sochi2014.com
Coca Cola – Olympic Games – www.theolympics.coca-cola.com
NBC Olympics – www.nbcolympics.com
International Olympic Committee – www.olympic.org
If you have any questions about event sponsorship or venue naming rights contact the Roaring Fork Agency at:
info@roaringforkagency.com
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