Sponsoring a particular IP (intellectual property) is a great way for brands to connect with those who are passionate fans. Sponsorship opportunities exist from properties ranging from sports teams and leagues to music festivals, special events, art and theatre, venues, and more. But the sponsorship itself is just the beginning.

The real payoff comes when brands turn the negotiated sponsor assets into marketing campaigns that resonate with those passionate fans, leading them to becoming fans of the brand. In order to maximize that value, companies must spend at least as much on marketing the sponsorship as they do on the sponsorship itself. Companies sign sponsorship deals for many reasons: to support the core brand audience, or an important subset, such as a region, a segmented audience, or even a key retailer or distribution channel. VIP access is also a major draw, for corporate and hospitality purposes. Ideally the brand finds ways to use all available assets to meet multiple corporate goals across business units and departments.

Marketing partnerships give businesses a way to expand by tapping into the customer base of a like-minded brand. The resulting campaigns can range from a simple email campaign to one another’s list to a co-branded product bundle, or even co-branded product creation.