When your company is reviewing its marketing campaign, it should be thinking about the huge benefits that sponsoring an organization can have. Sponsorship is still in its infancy in some countries, but it is growing fast because of the ways it can help not only the sponsoring company but also the organization you are supporting. There are many ways to sponsor something; it can be an event, a single campaign or a long-term relationship with a specific organization.
What is Sponsorship?
Sponsorship is the financial or in-kind support of an activity or organization which is used to achieve certain business goals. It is not the same as advertising because while that is more about promoting the company, sponsorship is about promoting a company along with an organization. Many events and societies seek sponsorship from companies to help raise its profile while helping to offset some of the costs involved. In return, the sponsor gets lots of advertising opportunity and a rise in credibility and status in the community.
Enhancing Image and Attitude
There are many ways a company can benefit from sponsorship, in fact, even just one event, can achieve several goals for a company. It can enhance the image and reputation of a company among its customers and target audience. It can have an even more profound effect if the event or organization links in with the products or services the company offers. For example, if a sportswear company supported a sports organization, then sports fans and their demographic would be exposed to the company, hopefully driving authority, visibility and sales.
Another area where sponsorship helps is driving sales for your company. Partly, this is due to the heightened profile your company will achieve, but it is also because of the brands associated with events and organizations. By sponsoring, they are creating loyalty among their customers and target market that will lead to increased sales.
Differentiating from Competitors
Your competitors may also be using sponsorship to help their company, though you will both be working with separate organizations. That means you will be getting access to different potential customers and different organization supporters. That could make a big difference in your long-term strategy with your competitors.
How Can Sponsors be Seen?
There are many ways that a sponsor can show their support for an event or organization. Apart from having banners and posters, you also want things that people can take away with them and keep after the event. You can have pens and leaflets made up, as well as customized pins. Lapel pins are hard wearing and will remain a reminder to those who wear them to the event and your company. These pins are ideal if you’re sponsoring a sports team, a university, school or even a fraternity and sorority.
By sponsoring an organization, whether it’s a local or global sports team, a school or even sponsoring the people who work within your company, you can increase visibility, authority, sales and interest. Be original in your sponsorship, think outside the box, and let your business seem creative. The more creative you are, the more interest you’ll generate.