The concept of marketing & sponsorship refers to the financial or in-kind support of activities. Businesses often sponsor events, trade shows, groups, or charity causes to increase their competitive advantage and reach specific business goals. Despite being a form of marketing, marketing & sponsorships are different from advertising, which attempts to persuade customers to make purchases by sharing specific messages about a company or product. On the other hand, sponsorships do not directly promote your company or products. Your company instead supports a specific event that is important to your customers. Customers, attendees, and media are then aware of your company’s involvement with the event. Sponsorship marketing is an underestimated marketing strategy. Consider sponsoring a local kids’ team, a charity event, or a non-profit organization. Because of the cost or scale, you might think only big corporations can benefit from sponsorships. Small and medium-sized businesses can also make good use of them in their marketing campaigns.
How Event Sponsorships Work
Marketing & sponsorship support are often used to offer more exciting programs and to help with costs during large community events. At trade shows, charity events, or business functions, promotional opportunities may include sponsorships of press rooms, an international lounge, a speaker’s or VIP’s room, an awards reception, educational programs, banners, badge holders, audiovisual equipment, display computers, shuttle buses, and branded swag. The branding and products you can use with local causes like sports teams or charity drives may be limited, but they also allow you to reach a specific local audience. Your logo will be seen fewer times on Little League uniforms than at a national trade show, for example. However, if all your customers live in the same area and their kids are Little Leaguers, that’s the best place to be seen by your target audience.
Marketing Benefits of Sponsorship
Shape consumer attitudes. Sponsorship&marketing activities that interest your customers can make them feel good about your brand. You are more likely to have a positive attitude toward your company if your customers feel you care about the same things they do.
Increase brand awareness. In-kind sponsorships are often less expensive than traditional advertising. If you choose carefully, you will reach an audience that needs your product, unlike traditional media ads, which can be seen by anyone. An owner of a pet store who provides branded leashes for a local kennel club’s annual dog show knows their brand’s name will be seen repeatedly by their target audience.
Increase sales. Driving sales goes hand-in-hand with brand awareness, and many sponsorship opportunities provide you with the opportunity to introduce consumers to your product in a way that encourages them to buy it. For example, at a trade show, food or cosmetic companies may offer samples for customers to try prior to purchasing full-size products. You can choose to link purchases to a specific cause, as American Express did with its “Charge Against Hunger” campaign, which made a donation for every purchase.
Increase reach. Marketing strategies and sponsorships encourage word-of-mouth marketing. Ideally, people who attend an event that you sponsor will have a positive interaction with your brand and continue to talk about your service or product. If your company’s name is on the event’s promotional materials, including emails and advertisements, you have an additional opportunity to reach more customers.
Marketing & Sponsorship Plan Addition
Sponsorships help you build credibility, improve your public image, and boost your business’s prestige. In order to reach your target customers, it must be used strategically. Build your marketing plan around events and causes that your ideal customers care about.