Industry Insights

The value of sponsorship

Industry Insights

The value of sponsorship

When working to raise the profile of your business, there are lots of tools you can use to engage your target audience and reach out to potential new customers. From social media and online advertising to direct mail and promotional events, there’s a marketing tool to suit every company, situation and campaign.

If your business is looking for new and interesting ways to promote its products and services, and increase brand awareness, sponsorship can be a powerful and valuable tool in your marketing arsenal.

How will sponsorship benefit you?

Sponsorship can benefit your company in a number of ways. If your business is trying to demonstrate social responsibility, sponsoring a good cause could do wonders for your brand identity. Customers will automatically connect your business with your chosen cause, helping to give your brand a respectable, authoritative and responsible image.

Sponsorship can also help you to reach new audiences and raise your corporate profile, two things that can really help to boost your business.

Consider your target audience

When arranging a sponsorship deal, it’s important to consider your target audience. If your company is trying to attract a particular demographic, try to choose a charity or organisation that has a similar demographic or that is involved with causes your potential customers are interested in.

As @MarketingDonut says;

sponsorship can generate substantial publicity for a relatively small investment

So if you use your arrangement wisely, you should be able to increase brand awareness quickly and effectively.

Working within your budget

Though sponsorship is great for your corporate image and brand identity, it’s important that stick to the budget if you want to get the most out of your arrangement. Talk to the organisation you’re sponsoring to find out if a longer term deal would offer your business better value, and try to assess what level of sponsorship will strike the right balance between raising your profile and managing your marketing budget.

Think outside the box

Sponsorship can take many forms, from sponsoring an event or an awards scheme to sponsoring a TV programme or even a person. Think about which form of sponsorship would most benefit your company image and fit with your brand identity and campaign goals.

How to measure success

As with all marketing campaigns, it’s important to be able to measure the success of your sponsorship arrangement. Consider what you want to achieve from the deal, this could include increased sales, brand awareness or website hits, and then work out a way to monitor the impact of your campaign on your company’s success.

A powerful marketing tool, sponsorship can help to boost your business profile and help your company to achieve its goals. To find out more about sponsorship and other effective marketing techniques get in touch with a member of our team today.