Computer software is a mainstay of modern business. Hardly anyone does business with legacy systems anymore. Even in sports marketing and sponsorships, software is a daily driver. The right software can make an enormous difference in sponsorship sales.
More often than not, sponsorships sales tools are built into comprehensive sponsorship management software. But it is possible to invest in a sponsorship sales and revenue reporting software package that doesn’t get into things like ticketing and fan engagement.
One way or the other, the whole point of investing in software is to have access to tools that help manage, track, and optimize sponsorship activities. Give sponsors what they want, and sales and revenue should go up.
Key Features Sponsors Expect
Savvy sponsors pay close attention to the software marketing teams use. They expect certain features. As far as KORE is concerned, the best way to go is to build all the features into a comprehensive sponsorship management platform that brings all stakeholders together in one place. Give them a shout to learn more about their platform.
In the meantime, here are some of the key features sponsors expect:
- Centralized Management – Being able to manage sponsorship deals through a centralized, cloud location makes life easier on everyone. Teams benefit because they can manage the entire sponsor journey in a single interface.
- Real-Time Data – Sponsors rely on real-time data to make decisions. They rely on it to accelerate the pipeline and capitalize on new opportunities.
- Performance Tracking – Performance tracking is critical to making quick decisions in a fast-paced environment. Sponsors want to know where they stand at all times.
- Reporting and Analytics – In the long term, sponsors want rock-solid analytics. They want it supported by comprehensive reporting that helps them understand the past while plotting the future.
Sponsorship sales and revenue reporting software benefits sales teams as well. A good software package offers sophisticated inventory tracking, customizable workflows, delivery management tools, and more.
How the Right Software Changes Things
Like any other form of sales, sponsorship sales are all about introducing sponsors to lucrative opportunities they simply cannot refuse. Make a sponsorship well worth the investment and a sponsor is more likely to get on board. This brings us back to software.
The data gleaned from a comprehensive software package improves decision making. Both sponsors and teams can rely on real-time data and analytics to guide them to the right choices. They don’t have to rely on guesswork and intuition. In addition, good sponsorship management software:
- Encourages Collaboration – Most platforms facilitate direct collaboration among sponsors, promoters, venues, and marketing teams.
- Increases Efficiency – Software with automation capabilities increases efficiency, thus saving both time and money.
- Maximizes Revenue – A software platform should provide a clear overview of both sold and available assets, thereby helping organizations maximize revenue potential.
- Proof of Performance – Sponsors are fond of seeing assets in action. When software provides such views, both retention and sponsorship renewals are easier to come by.
Sponsorship sales and revenue reporting software puts data at the core of the decision-making process. Sponsors are happy when they have relatable data to work with. Marketing teams can make better decisions when they have access to real-time data. When both parties make good decisions, they can engage with fans better to build loyalty and drive revenue.
Never underestimate the power of a good sponsorship management platform. If you plan to invest in one, look for a package that offers solid sales and revenue reporting capabilities. The data it offers could make a big difference in your long-term sponsorship sales.
