Evaluating whether a sponsorship arrangement will benefit your organisation, it is necessary to firstly evaluate the opportunity against your strategic direction. Having considered that the proposal or potential sponsor does meet the objectives of your strategy, it is necessary to build the evaluation framework that proves or disproves that the partnership was of value. Assuming all your ducks are lined up and you agree to the partnership, set up your measurement framework, constructed your activation plan and PARTICIPATED in the transaction, the critical element to ensuring a successful partnership is to evaluate the outcomes and provide feedback and recommendations.
The key to great partnerships is what happens after you’ve crossed the finish line. You’ve trained hard, you’re ready to race, the gun has gone off and you’re running down the track, and winning! You cross the finish line and you come first, the hard work is over and you have succeeded. This is the process many people in this field take, but those that perform like top athletes, those that go over their performance and evaluate what they did right and what they can improve on, are the ones that will come back and win next time. They know what they’re measuring against, they implement a plan and then evaluate how to be better next time.