Companies large and small spent more than $20 billion on sponsorships in 2014 in the U.S. alone, with global figures surpassing $55 billion. The majority of sponsorships come from sports, where athletes team up with brands to turn an athlete’s followers onto the brand and expand visibility. Other sponsorship categories include: high-end electronics, television brands, entertainment, arts, social causes, festivals and international events.

Establishing a sponsorship is only the first step though. You need to know how to leverage that sponsorship and market it to get a boost in visibility online as well as through traditional marketing channels.