Sports Sponsorship

Question 1

What are the important societally factors for Branding?

Answer 1

1. Accessibility
2. Familiarity
3. Competition

Question 2

What is a brand made up of?

Answer 2

1. Organizational actors
2. Personalities
3. Catchphrases
4. Promises/ agreements
5. Logos
6. Iconic names

Question 3

What questions should be answered for choosing a brand?

Answer 3

Serving a purpose?
Likable by the consumer?
Memorable to the consumer?
Adaptable in nature?
Unique?
Transferable?

Question 4

What are the four steps in the brand management process?

Answer 4

Creating the Brand.
Implementing the Brand.
Measuring brand performance.
Growing the brand.

Question 5

What are the steps to build a brand?

Answer 5

1. Identify the target audience,
2. create a brand mission statement;
3. research competing brands;
4. determine what benefits your brand will provide for the consumer;
5. design the creative aspects of the brand;
6. create your brand message and pitch;
7. highlight your brand;
8. implement your brand into business; and
9. be consistent and diligent with your brand.

Question 6

What is the best ability in business?

Answer 6

Availability = If you can’t reach the customer/cunsomer it doesn’t matter if you have the best product and price

Question 7

What are the 3 different ways to utilise partnerships?

Answer 7

branding partnerships, exclusive licensing agreements, and utilizing endorsements from icons.

Question 8

What are the 3 different forms of brand measurement

Answer 8

1. Behavioral Measurement
2. Perception Measurement
3. Performance Measurement

Question 9

What’s the formula for behavioral measurement?

Answer 9

100 employees * 200 interactions * 52 weeks = 1,040,000 branding opportunities

Question 10

What are the three ways of growing a brand?

Answer 10

1. New products in new markets
2. New extensions to products in the current market
3. Joint ventures/ acquisition of existing organizations

Question 11

What is the disadvantage for new products in new markets?

Answer 11

When the organisation has to invest too much time and money.

Question 12

What are the different phases within a sales process?

Answer 12

1. Discovering prospects and identifying leads,
2. qualifying prospects,
3. preparing for the sale,
4. presenting the proposal,
5. overcoming objections and negotiations,
6. closing the sale, and
7. maximizing and growing the relationship.

Question 13

Why is constant prospecting essential?

Answer 13

Some clients needs change as well as the market you are in.
Some clients are only short term
Sometimes the relationship sours

Question 14

What are the three prospecting methods?

Answer 14

1. Random Prospecting
2. Focused Prospecting
3. Prospecting through CRM

Question 15

What are the forms of Random Prospecting?

Answer 15

Cold calls.
Email blitz.
Direct mail blitz.
Traditional advertising.
Social media advertising.

Question 16

What are the forms of Focused Prospecting?

Answer 16

Current and former clients.
Industry partner information databases.
Networking organizations.
Government organizations.
Organizational surveys and feedback channels.
Associates and executives within the organization.
Professional services agencies and organizations.

Question 17

What are the four main benefits of your CRM when it comes to sports sponsorship and prospecting?

Answer 17

Efficiency.
Data accuracy.
Teamwork.
Accountability.

Question 18

Steps to establish and applying the prospecting plan?

Answer 18

Allocating time.
Establishing goals.
Tracking progress.
Evaluating progress.
Establishing consistency.

Question 19

What are SMART Goals?

Answer 19

S=Specific M=Measurable A=Attainable R=Realistic T=Time sensitive/Time based

Question 20

How much of the time should a client speak in a meeting?

Answer 20

80% of the time

Question 21

What are the three steps in preparing for a sale?

Answer 21

Investigation,
Engagement.
Cultivation.

Question 22

What are BANT metrics?

Answer 22

B=Budget A=Authority N= Need, T=Timeline

Question 23

What should be done before a meeting with a client?

Answer 23

Establish the agenda with the client beforehand
Prepare with a few personal contact points
The first meaning of this phrase is to meet at the earliest date possible

Question 24

What should be done at a meeting with a client?

Answer 24

1. Start with the personal touches and humor
2. Be Positive
3. Keep the client talking
4. Gather inquiries
5. Review and establish next steps

Question 25

What should be done to cultivate an existing client?

Answer 25

A meal at a favorite restaurant.
A sport match or event.
An industry-related event.
A community gala.

Question 26

What are the key things you need to include in a proposal for a client

Answer 26

Opportunity - it's like an executive summary
Objectives
Measures of success
Value to the sponsor
Personalized wow factors
Terms and agreements

Question 27

What should you do when presenting the proposal?

Answer 27

Lead with the vision
Be concise with your points
Cut the fat - Keep a Power Point as precise and short as possible 
Use data sparingly
Stick to the schedule
Be confident and stay positive
Ask questions

Question 28

How do you overcome objectives?

Answer 28

Listen and Gather information
Questions/ Clarify
Confirming your understanding
Address the problem
Check for an agrement

Question 29

What needs to happen to close the deal?

Answer 29

Make sure all documents are reviewed and signed by the appropriate parties.
Log all agreements electronically.
Immediately notify any impacted parties within your organization.