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Sponsorship marketing is a chief marketing tool that must be included in any marketing plan. In an ever-evolving arena, sponsorships are financial, in-kind, promotional and media partnerships that support activities. Like other marketing efforts, patronage can help to maintain your relevance in your industry, increases your competitive edge and helps you to meet your business goals. But you can only have this if you’re investing right. Let’s talk a little more about this.
What can you sponsor? There are countless opportunities for you to explore. For instance, trunk shows, events, sporting activities, charity events, sports teams, and the list goes on. But I know what you’re thinking, the covid-19 pandemic has dampened the atmosphere, there’s not much going on. While there is some truth to this. It only means that you must think smarter.
However, don’t confuse sponsorship with advertising. They differ where sponsorship doesn’t directly promote your products and or services as advertising does. Instead, the backing that you provide will cause your customers, event attendees and even the media to associate your brand with an event, team, social cause etc.
Now let’s zoom in on the benefits of including sponsorship in your marketing plan.
First up is, differentiation. Don’t you just love being unique? Sponsoring an event, primarily through exclusive partnership can set you apart from your competitor and puts you ahead of the game. How so? It allows you to attach yourself to something impactful. And take it from us, this is pleasing to your customers. Plus, it’s a great tactic to explore if you perceive that your advertising budget is smaller than your competitor. Remember, if you get a chance to sponsor the next breast cancer awareness symposium, go right ahead and take it.
If Increasing awareness of your brand is a priority, sponsorship marketing one way to go. So, you have been asked to sponsor an award show paying respect to professional women excelling in their respective fields. Why not offer in-kind sponsorship? This your time to shine and get your brand out there through branded products. Your offerings, say branded planners and pen, are perfect elements to be included in goodie bags.
Who doesn’t appreciate the media? Getting the media’s attention is a big deal for businesses, especially for smallenterprises. But be careful, we’re talking only about positive coverage. Getting in the media is pricey, however, if you sponsor an event, which the media attends, you can capitalise on the media’s presence. Even if you already have a media plan in place, you can save big time through this opportunity. A quick interview is all you need to show off your products or services and you’ll be on your way to stardom, that’s increasing your reach and building awareness around your brand. Don’t forget how important it is for you to get your logo seen by the media.
You have to be strategic when it comes to supporting events or anything at all. That’s because sponsorship gives way to word-of-mouth marketing. Getting people to talk about your brand is just as significant as persuading them to make a purchase. Having positive interactions with the persons who attend an event that you sponsored is essential in driving in new sales and generate new leads. Consider sharing your business card with the attendees in the moment, too.
Customers often find corporate social responsibly as an attractive feature for the companies they buy from. Participating in and sponsoring beach clean-up activities, donating medical supplies to a nursing home or spending a day grooming children and helping around at a children’s home leaves a good taste in the mouths of current customers and prospects.
With all that has being said, are you ready to step up your game with sponsorship marketing? Get in touch with us below to get started.
