Sponsorship, once a symbol of corporate excess and indulgence, is resurgent as marketers find a new place for it within the marketing mix. As sports fans will be all too aware, many leading companies and brands are pulling out of their sponsorship deals with major sporting events, high-profile teams and sports stars as they look to shore up their marketing budgets. Prominent sponsorship deals such as Honda’s Formula 1 racing team, Vodafone’s long relationship with the English Cricket Board and the Derby, and GM’s endorsement deal with Tiger Woods are just a few of the notable examples of the lucrative
Sponsorship is growing rapidly in professional associations. No matter the prime objective of the particular trade body, whether they represent shipping companies or small digital businesses, they all share in common the predicament of shrinking revenue streams from membership fees. Professional associations used to be key in growing and developing brands. However, with the ever present flow of information, documents, best practice guides, white papers, and social networks available for free, membership benefits are now less vital to business success. This puts professional associations in a very difficult situation. They
