If you’re looking to stretch your marketing budget, here are 10 reasons to sponsor an event.
1. Brand Visibility
Brand recognition is the ability of a consumer to recognize one brand over other brands. Brand recognition will help people lean toward your product when given the choice between your product and one they have never heard of.
Sponsorships put your brand visuals in front of large audiences who haven’t heard of your business. The bigger the event, the more press and social media mentions you get before, during, and after the event day. With many sponsorships, you get inclusion on ads, posters, signs, or social media posts, t-shirts and more that boost brand recognition.
If you plan promotional giveaways, a huge number of people will be toting your branded swag. Quality matters, so choose giveaways that your customers will user or keep.
2. Targeted Marketing
Whether you’re involved with a local charity drive or craft fair, the right event attracts highly interested customers. Sponsored events often cater to niche audiences or member organizations. You gain opportunities to engage one on one with people looking for relevant product solutions. LEARN MORE ABOUT OUR AUDIENCE DEMOGRAPHICS
3. Block the Competition
One of the biggest intangible benefits, is the potential to “block” the competition. If your competitors haven’t started doing sponsoring events where your audience is, there’s a huge opportunity to be first in the space and get new eyes on your company that may have found their way to a competitor.
The last thing you want is to hold out on an event opportunity, have a competitor take your place, and miss out on a great chance to establish your presence there.
With Goosebump Events once a client commits to a sponsorship level investment we will not accept anyone else into the event in the same business category.
4. Consumer Perception
Customers form positive opinions when your business is tied to high-profile events. Customers will assume your business is reliable and reputable if you can sponsor other organizations.
In a 2016 survey, the Event Marketing Institute found that 74 percent of consumers are more likely to buy products after exposure to a branded event marketing experience. Use the clout you earn as a sponsor to grow your reputation in your community.
5. Efficient Lead Generation
Think about the amount of time you normally spend hunting for 10 qualified leads. How about 20, 50, or 100? Not only do events bring you a host of compatible customers, but they also show the human side of your business.
Forming an emotional connection is half the battle of building brand loyalty. By attending in person, you can learn about customers, promote your products, and build a mailing list.
6. Sales Goals
Along with leads, consumer events allow you to rack up sales on the spot. Picture a restaurant that sponsors a local music venue or sports team. Setting up a branded booth to feed hungry fans is an easy way to get new business. Events provide a captive audience looking for opportunities to engage in the event activities.
7. Community Goodwill
Strengthening your business image is one of the most valuable benefits of event sponsorship. Customers love brands that care about spreading positive messages and helping the community. Linking your business to a worthy cause can draw lasting support and media attention. All of the City of Avondale events are free to the public and rely heavily on community support, our attendees know these events are free because of your support.
Community involvement also sets you apart from larger brands. People have more incentive to support your business if you’re invested in the local community. Find out what matters to customers, and pick causes that align with their values to boost loyalty.
8. Content Strategy
Event sponsorships provide fresh material to expand your content strategy. By connecting with the event on social media, you can find relevant audiences to target. Popular events get a lot of engagement, which you can use to create content themes or promote your own hashtags.
Even better, event promotion doesn’t end with sponsors. The Event Marketing Institute reported that 98 percent of consumers create social content during events. When attendees share photos, quotes, videos, and blogs, you get exposure to much larger networks and for days and weeks after the event. Give them something at your booth to share about and gain even more. User-generated content has a greater impact on customers, so make it easy for people to tag your business on social media.
9. Return on Investment (ROI)
Whether you plan to sell or not, events are about starting quality relationships. The goal is to leave with a list of leads to follow up on afterward. You don’t necessarily need to make a huge profit on event day, as long as you have a long-term way to leverage your investment.
To make the most of your event sponsorship, decide what you want to achieve before you go. Come up with a metric to measure your efforts, so you know if an event is worth attending again.
10. Business Relationships
Are you in the market for new partnerships or supplier relationships? Events are great places to find non-competing businesses you can collaborate with in the future.
Small business owners are busy folks, so most are happy to share leads and cut their legwork in half. Find out what businesses are participating, and prepare pitches to introduce yourself to key players. Brand recognition is the ability of a consumer to recognize one brand over other brands.