With the many different forms of media and advertisement getting saturated so quickly, it is time for new kinds of innovations in the world of advertising. For this reason, an increasing number of companies are turning to new kinds of marketing tools like organizing events and also sponsoring events. Event sponsorship has proved to be a very successful marketing tool with a larger number of organizations and brands embracing it nowadays. Sponsoring an event means funding an event that will benefit you on an economic level later on.
What happens when a brand sponsors an event?
When a brand sponsors an event, what happens is that the brand or the product is advertised widely, but in a way that is more subtle than a television ad or radio ad. This is because the extent of your advertising is usually a banner or an announcement of sponsors. However, this still reaches a rather large audience. They are going to see it.
In the meantime, you can try something such as do a display at that event of your brand. For example, you may be a beverage company, so you can allow those attending the event to sample your beverage. This will help you build up a positive reputation and individuals are going to associate your brand with the event. You've probably noticed this when you have attended a sporting event. You'll see that a certain beverage company is a sponsor and they may be selling that beverage out in the hallway. Now this isn't as subtle as simply having a banner splashed across somewhere at the event or a mere mention of who the sponsors are.
Why should the brand sponsor an event?
There are a number of benefits that a brand gets out of sponsoring an event. They are:
1. Recognition - When sponsoring an event, the brand usually puts up a lot of placards, posters, distributed pamphlets, etc at the event. This way, all the attendees get to know about the brand and its presence there. If they see it in a store or another vendor, they will recognize it because they saw your brand at the event.
2. Sampling - An event is a great place to launch your product. If you have introduced a new product, get associated with an event where the product's target audience may be present. This way, you can directly reach out to the customers and make an impact. And everyone likes a free sample. And if the product is good, the customers will begin making purchases and will become loyal customers.
3. Building Brand Awareness - A lot of times a brand may not be enjoying the amount of publicity that it deserves. This can be due to a number of reasons such as the media being saturated with so many ads, an excess of competition, and marketing campaigns that can use a little imagination. In such a scenario, it is very important that a marketing plan breaks away from the regular routines. This is so event sponsorship will work wonderfully towards building brand awareness.
Keeping these factors in mind, it can be seen that event sponsorships can really work for a company. However, the events should and planned properly, keeping the requirements in mind at all times; the requirements of both the brand and the event. Only then can event sponsorship work effectively for the company.
How to make the brand sponsorship work?
In order to make promoting your brand through event sponsorship a success, you need to meticulously plan your proceedings. First and foremost, you need to get associated with the right kind of event. It must be an event from which you can derive benefits. Remember that you are not running a charity and cannot possibly go around sponsoring every event that is taking place. Select the event from which your brand will benefit. Then, make sure the budget does not exceed your capabilities. Negotiate with the organizers of the event and see to it that your money is not being wasted on miscellaneous activities outside the event. Once that it done, work toward creating a lot of hype for the event through heavy promotion. This buzz generation is important, as it will attract the people towards the event. As the sponsor, it is your duty to generate the buzz needed to bring people your way. Also, it would benefit you as well if the event were attended by a large number of people, who can come in and get acquainted with the brand you are trying to promote through the sponsorship. After ensuring good attendance, work towards promoting your brand as much as possible at the event. However, this has to be done in a way that you do not annoy those attending. Do not go over the top and attract all the attention towards the brand! You should have qualified salespeople available so that they can talk about the brand, if required. Have demonstration corners, free sampling counters, and facilities for other such promotional attractions.
Conclusion
In conclusion, it can be said that event sponsorship is a great tool in marketing. You need to make the event sponsorship work for your company in any way that you can. Generate the right kind of ideas and then see to it that they are executed. Rope in the best people and get associated with the biggest and most popular events. Even though event sponsorship can work wonders for your company, you must realize that sponsoring an event that is not well publicized will do little in helping your cause. Do a lot of research before releasing the funds to the company or the event that you are sponsoring.
Also keep in mind that, once associated with an event, your reputation will be at stake as well. So get associated with an event that will take your brand's name further ahead, not drag it into any controversy. If the event is a success, having sponsored the event, you will be in for many an accolade, both from the public and from the industry. Good luck!
Swati is a freelancer, a work from home mom, who loves to write. She is a postgraduate in English and an MBA. She has written on practically every niche on the web. She writes articles, blogs, web pages, reports, press releases, product descriptions, eBooks, sales letters and newsletters. Visit Swati's blog at http://swatibanerjee.wordpress.com now if you need content for your business or personal needs.
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