Daily Archives: September 27, 2014

Barbados Tourism businesses must get serious about sponsorships!

“2013 ended with the lowest number of stay over visitors for 11 consecutive years. We must do something!”

Adrian Loveridge - tourism expert, hotel owner

Adrian Loveridge – tourism expert, hotel owner

When you are working with miniscule marketing budgets, securing sponsorship is absolutely critical to the overall success of most promotions. The secret is to ensure that any sponsor ‘investing’ in a bigger picture project achieves a cost effective return.

That cannot be done without a careful evaluation of potential linkages and mutual benefits.

Quoting from a well known business publication,

“Sponsorship should not be confused with advertising. Advertising is considered a quantitative medium, whereas sponsorship is considered a qualitative medium.”

Beneficial partnerships can add tremendous value and credibility, especially if increased sales and market share can be directly measured to the strategic alliance. It also makes it far more likely that the sponsor would be willing to support future ventures.  Continue reading

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Filed under Barbados, Barbados Tourism, Economy