Your browser how To Invest Wisely In South Africa redirect to your requested content shortly. Opinions expressed by Entrepreneur contributors are their own. In the business world, it so common to get calls from local organizations — think service clubs and professional groups — asking for sponsorships, as these groups rely on this kind of support to make ends meet. Association trade shows and exhibitions also turn to sponsors to get their program off the ground. In addition, sponsoring an event for someone on your word-of-mouth marketing team enhances the relationship, because you are helping that person meet a goal. So when you are considering sponsoring an event, choose carefully.
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Make sure it is a good investment of your time and money. What is the target market for this event? What kind of exposure do I get for my investment? Can I get this kind of exposure without this investment?
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Do I get direct access to the audience? Does it make sense for me to be there? Which business or networking goal does it help me complete? How does this enhance my credibility with the person I’m helping? All of these questions help you determine the value of a sponsorship opportunity. If you choose to invest your time and resources, here are a few things to consider.
By offering the gift of support and lending a helping hand, you are making a tidy “deposit” in your relationship bank account. This act of generosity will come back in time, but for now, it simply nurtures the relationship by helping someone in your network meet her goals. Have you sponsored an event in the past? If so, take a moment to think about your experience and how it impacted your relationship with the person in charge of the event. Who do you know that is planning an event and how can you help.