WPP's Prism launches sponsorship tool into Europe

by Sam Matthews, Brand Republic 24-Nov-05, 14:00

LONDON - WPP Group's sports sponsorship arm Prism is launching the latest version of its Six Sigma sponsorship tool into Europe following its success in North America.

The strategy, outlined in the book 'Sponsorship's Holy Grail: Six Sigma Forges the Link Between Sponsorship & Business Goals', allows marketers and agencies to understand and evaluate sponsorship depending on specific business goals.

The book's author, Prism North and South America chief executive Raymond Bednar, said: "Sponsorship offers unparalleled marketing opportunities, but the price of admission is so high that you can't afford to make uninformed decisions."

By following the sponsorship tool's guidelines companies can bring the same rigor and vigilance they exercise over all other business decisions to this important marketing investment.

The tool has been taken up by high-profile companies including Ford, HSBC, Samsung, DuPont and Xerox and is applicable to any type of sponsorship.

Brian Greenwood, Prism UK chief executive, said the impact the book has had on US company's sponsorship prompted the decision to launch it into the European market.

He said: "The fact that our process has stood up to critical analysis by some of the best marketing strategy brains in several major blue chip companies and is now being actively used to manage some major global sponsorship investments leads us to believe that the time is now right to introduce the tool to the European market."

According to Prism, businesses around the world will spend an estimated $30bn in 2005 on corporate sponsorship activities.

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