Finding ways to spend your law firm marketing budget with sponsorships is pretty easy. Sporting groups, charities, business associations, schools and publications of both dubious and genuine value regularly seek out law firms for “sponsorships”.
But are these sponsorships really providing genuine value to your law firm marketing efforts or are they just a feel good exercise? Or a bit of both?
John Gray Marketing coaches its clients to keep a clear distinction between the money they spend on genuine marketing sponsorships and the money they contribute to charitable or community organisations.
Why does it matter which type it is?
Mainly because the reasons you pay for a marketing sponsorship are very different from the reasons you give to a community or charitable group.
Both can provide significant benefits to your firm but in different ways. By understanding the difference you can assess the value more effectively and ensure you are getting the maximum benefit for your money.
What’s the difference?
There may be some areas of overlap but generally speaking a true marketing sponsorship provides clear, measurable benefits to your firm and will exactly match with your marketing objectives. Consider the audience being reached. If you would happily pay to get your message in front of this audience regardless of any related feel good aspect then it’s probably a genuine marketing sponsorship.
In contrast, a charitable or community contribution, while sometimes also providing some marketing benefit, is largely driven by an emotional desire to support the organisation or cause involved.
Your firm and the community
In a follow up article I’ll be providing a plan for you to manage your firm’s contribution to the community in a way that ensures your money does the most good for both you and the target organisations. In brief, this involves having a clear budget for your charitable contributions, becoming genuinely involved in the charity or community group in, avoiding a scattergun approach and documenting a clear policy so contributions are fair and manageable.
Maximising value from marketing sponsorships
Also keep an eye out for my tips on getting the maximum value from law firm marketing sponsorships. Critical issues to consider include:
- Who is the audience?
- Does it fit within our marketing plan?
- Is there an opportunity to engage deeply with the event or organisation?
- What benefits would the sponsorship bring to our firm, our clients and referral sources.