Sponsorship

More and more companies are realising the advantages of strategic sponsorship. Carefully targeted at relevant and suitable events or organisations, sponsorship can be used as an awareness tool, particularly in new markets; as an association tool, linking the organisation with the positive attributes of the sponsored event or organisation; or in a corporate hospitality capacity, to reinforce key partnerships or contracts.

It is essential to think very carefully about the actual benefits to your business before committing any money or time to sponsorship deals.

freshbaked™ PR will help you to evaluate how much a sponsorship is going to cost you and what benefit it will be to your business.

If you decide to sponsor your local football team in Cardiff, for example, make sure that there is a mutual agreement about the number of opportunities for branding, such as on shirts, in the stadium, on tickets, in programmes etc
 

Evaluation

Public relations shouldn't be thought of as a quick fix. It works better when it provides a long-term benefit to your business. However, at freshbaked(TM) PR we appreciate the importance of measuring how successful your public relations activities have been against how much it has cost.

The most tangible method of evaluating PR is to work out how much a piece of coverage would have cost had you paid for it via advertising. This is called the 'advertising value equivalent' (AVE). Due to the credibility attached to the editorial coverage over advertising, this amount is then multiplied by three.