Sponsorships can really energize a brand. Look at how F1 has energized the Redbull brand. Redbull also sponsors extreme sports throughout the world, associating it with high energy and extremities. A sponsorship allows for clearer branding through associations with the events sponsored.
The easiest way to get started is to study your existing and potential customers. What kind of activities interest them on a regular basis? Then study various events to see if they fit your brand identity and image. For long term optimization, go beyond just superficial sponsorship, but fully immerse with the event sponsored, such as setting up linked websites, behind the scenes, and regular newsletter updates.
Endorsers are usually celebrities that you want to link with your brands. This is similar to event sponsorships, where the endorser’s quality and image will be linked with the brand. There is danger of this though, as celebrities can have negative reputations quickly, just like the recent Tiger Woods scandal surrounding his many kept women.
Again, study your consumers. Choose a celebrity that they know and like, and is fresh, not overexposed to too many brands. Like sponsorships, ensure that your endorser has similar image and public qualities to your brand’s identity and image. Go for long term relationships wherever possible, instead of constantly changing your endorsers. Finally, ensure that your brand can comfortably afford to pay the endorser fees for the long term.