Those two are important. Unfortunately, some sponsorship seekers don't do their due diligence or overlook the target audience so sponsors have to carefully inspect the proposal. Being open to cross-over audiences that may show up at a different than usual kind of event might be worth it. For example, if your store sells dye for women, you'll be prone to sponsor an event with women who uses dye. It would be worth the consideration to also sponsor an event with men who uses dye hence crossing over to men customers: different kind of event can equal different kind of customers. Naturally, the event has to match your brand's identity or company's culture.