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Why Sponsorship Marketing is a Win-Win
Many of you will immediately associate sponsorship with sports; your name on the team jersey, a display ad printed in the game programs, your logo emblazoned on a prominent banner waving in the wind. You may be pleasantly surprised to learn that sponsorship marketing is far from being exclusive to the sporting world and humanitarian causes. And, it may just be the answer to integrating your brand into the local community; creating a loyal following of believers in your product or services.
Sponsorship vs. Advertising: What’s the difference?
Sponsorship marketing is one of the most effective and affordable ways for a growing business to gain plenty of exposure. By showing your support for (or alliance with) small and local businesses, sponsorship allows you to get your message out in front of a highly desirable audience; your community, your industry niche. Sponsorship marketing also provides the opportunity of an ongoing relationship, giving you more time to really nurture potential customers and gain their loyalty (and referrals).
Advertising, on the other hand, is a huge expense (especially for a startup business). One simple placement in a popular industry magazine – or several 30 second radio spots a month on your local station – can run into the hundreds of dollars. Your return on investment (ROI) is minimal, because the few seconds you’ve got anyone’s attention is not likely to convert to sales. And, the trial and error you’ll experience while finding what works for your company – and doesn’t – can be painful and time consuming.
Advertising is about quantity. Sponsorship is about quality.
Putting Sponsorship Marketing to Work
Whether online or onsite, this method for getting out your message and building brand recognition is superior to many others. Don’t miss the many types of marketing available to sponsors:
- Reaching a Target Audience: Remember, with sponsorship marketing your ideal prospect is essentially already in place, and you have their attention. Make good use of it! Sponsoring the right company means you skip about 20 different task levels in narrowing down the right consumers for your products and services!
- Standing above competition: Customers take many things into consideration when choosing to spend their money. While the cost and quality of your services (or products) are key factors, your commitment to the economic development of their local community will definitely influence their decision.
- Extensive brand exposure: In most cases, sponsorship marketing involves more than just writing a check. You will be given varied ways to introduce yourself to an attentive audience – in person or online, or both. From speaking at group meetings, to brand placement on coveted group web pages; from vendor table opportunities to guest posting. It’s a class act.
- Business collateral is a must: Here’s a chance to display your logo and message (banners, table runners) at events and distribute your cards, brochures, giveaways like cups or pens, etc. This goes so much further than wasting hundreds of dollars a year with a neighborhood newspaper ad; thrown into driveways, only to be rained on, run over and tossed in the trash.
- Be generous and tasteful: Go the extra mile and have your gift or donation for drawings branded with your logo. Use subtle yet creative ways to make sure the recipient knows (as well as the audience) that it’s your company providing the gift. Thoughtful, useful items may be kept for many years.
Sponsorship marketing is an excellent means of making the most of your valuable time and hard earned dollars. It is a mutually beneficial strategy to achieving meaningful business goals. Hence, the win-win.