The 5 principles for effective sponsorship strategy and property selection are to start with understanding the brand's status and objectives, set detailed and measurable goals, analyze the property marketplace based on brand criteria, involve all stakeholders in developing the strategy, and utilize available internal and external resources to inform the strategy.

1. 5 principles for effective sponsorship strategy and property selectionAlways start with the brand - have a strong understanding of status, objectives and current competitive issuesSet detailed and realistic objectives and KPIs - increased sales is not a detailed or realistic objectiveAnalyse and assess the property market place - Do this based on criteria anchored in brand and sponsorship objectivesInvolve all key stakeholders - development of strategy should be a collaborative processUtilise all available resources - use internal and external data and insight to fuel your strategy and creativity