Although not a particularly new marketing strategy, sponsorship is one of the fastest growing forms of marketing in the United States, with literally billions being pumped into events and charities. The world is currently enjoying one of the largest sports sponsorship events in the world, the Olympic Games in London, where massive multinationals like Coca Cola, Samsung, Visa and McDonalds all vied to have their brands emblazoned on this massive world stage. Of course, most companies are not large enough to host such mammoth sponsorship events, but it doesn’t mean that you can’t do a company sponsorship that is as effective for your brand. This article outlines the benefits of company sponsorship in order to help your company achieve its branding and marketing goals.
Benefits of Sponsorships
In short, company sponsorships can increase the credibility of your company within your specific target market, if you choose sponsorship for an appropriate event. Sponsorship events can vary depending on what kind of message you want to get across to your audience, although common examples include sports sponsorships, press rooms, international arrival and departure lounges, charity sponsorships, VIP rooms and music events. By showing your support of an event or organisation, you will gain a competitive advantage if your target market also values these events or organisations, creating significant sales opportunities and improved customer relations. Unlike advertising that is quantitative, sponsorship is qualitative and promotes your business in association with the sponsorship event or organisation.
Why Choose Sponsorship?
If executed correctly, company sponsorship can help shape consumer attitudes and change the way a company is perceived by their target audience. An excellent example is how the energy drink Monster primarily used company sponsorship to compete with dominant brand Red Bull, by sponsoring extreme sports events and sportsman that shape its brand image.
If a company can influence decisions they can also drive sales at events. For example Coca Cola often do music sponsorship events, and drive sales by selling their product at the event. A great charity sponsorship by American Express saw the company donating to charities in their “Charge Against Hunger” campaign each time a user swiped the card, thereby encouraging transactions.
Finally, company sponsorship can create positive publicity as well as heightened visibility for a brand. By sponsoring an event, it gives companies press release opportunities and other media rich marketing material such as video and images. News coverage of the sponsorship event will also broaden your reach to an even wider audience, and boost your company’s image within a community.
Penny Munroe is an avid writer in office related news and tips. Articles include selecting the correct sponsorship for your brand to tips to finding the ideal office space Paris offers.