Now that you, the team, have successfully brought on new sponsors and optimized your content campaigns to consistently drive more value, what’s next? It’s time to know the metrics for brand sponsorship that you’re being judged on and show your impact.
After spending valuable time and effort to run promotional campaigns for sponsors, it is important as a team to show the impact of those efforts, highlight accomplishments and prove the value generated for sponsors.
The first and most important step when preparing reports is to identify the audience for whom the report is prepared and what the goals are for that particular audience. Based on these criteria, a report can be generated for sponsors or an internal report presented to internal management.
- Sponsor reports — highlights and proves the value generated by the team for its sponsors. It provides details about how much value was generated by the team for its sponsors within a particular period, which posts, platforms & campaigns generated the most value and engagement, the team’s follower growth and reach, and more.
- Internal reports — shows the team’s progress within a particular period. These reports focus on the insights and key learnings that will help the team identify winning campaigns as well as ways to create more value moving forward.
Reports cannot be a one size fits all — they have to be personalized based on who the report is being presented to. Using Hookit’s Spontelligence dashboard, teams can generate a variety of reports that are unique to each sponsor and contain relevant metrics & data which are in line with sponsor goals. Teams can also create reports based on insights generated from the dashboard to drive their future strategy.
Once teams know the metrics for brand sponsorship they are being judged by, they are able to demonstrate their impact, making renewal discussions with sponsors much easier and more straightforward. With relevant data to prove the team’s worth, sponsors can easily justify renewing and increasing their sponsorship spend with the team.