What are the Benefits of Sponsorship?

Many businesses overlook sponsorship as a way to market to an audience. Sponsoring an event is a great way for local small businesses to introduce themselves to their community. Not only does it build brand awareness, but it shows potential customers that that particular business is doing their part to help the community that they are a part of.

When a business sponsors an event, it gives their business authority in their industry and boosts their credibility. Their brand gets seen throughout the duration of the event they sponsored, which then encourages the event’s attendees to find and work with that business when the need arises. Sponsoring an event can mean much more than displaying the logo of a business. Some event sponsorship packages include a speaking spot. This particular package is a great way to showcase what the business does and gets the audience informed.

90% of the time when a business sponsors an event, the decision is based on who will attend the event. This is a very logical decision, to make sure the audience they are trying to reach out to will actually be interested in what the business does. In the ideal case where a business reaches out to the right audience through a sponsorship, that business will have access to thousands of people in their target market, who they can then build relationships with.

Event sponsorship also gives a business brand the opportunity to create awareness, boost the image of the business, and gain media exposure. For example, a business can have naming rights for a component of the event. Chances are the media will use this name too. This is most popular in sporting and event stadiums, but the same can be seen in event dinners, awards or presentations. Familiarity is key when it comes to achieving great brand awareness. The more a brand is associated with positive experiences or emotions, the stronger the brand awareness will become.

Outreach campaigns are normally included when you sponsor an event. The event organizers promote the event in many different ways – social media, magazine and newspaper advertising, radio, emails, or possibly TV commercials. Becoming a sponsor can ensure that the brand name and logo will be on these promotions, depending on the sponsorship level. It may also be used when the event organizers are trying to get other businesses to sponsor, which increases the authority in the industry.

When a business sponsors an event, it can often be cheaper and have a higher return on investment (ROI) than doing a TV commercial or other advertising methods. This is because events usually have a specific target market. General advertising is usually less specific and is therefore less likely to have the concentration of a target audience. This isn’t always the case, but it makes it worth it to do an ROI analysis on what the business has achieved in the past through advertising compared to what they may expect from sponsoring an event.

In the end, sponsoring an event can be well worth the investment, if the business is clear about their goals. When a business has a well-planned event presence, it can generate an increase in brand reach and exposure, great ROI, and quality leads. It will also build a brand’s authority. It is very worth the money someone would put into sponsorship.

Kiara Poitra
Receptionist & Event Coordinator
Sturgis Area Chamber of Commerce & Visitors Bureau