October 5, 2020
5 Reasons Your Business Should Sponsor an Event
You’ve done the billboards, put the stamps on direct mailers and recorded your radio and TV spots. Your social media marketing is covered. But marketers often overlook the benefits of sponsorships.
All types of events need sponsors—we’re talking about fundraisers, conferences and sporting events just to name a few. And in today’s largely remote environment, events are still happening and in need of sponsors, whether that be socially distanced or virtually. Check out these five reasons your business should consider sponsoring an event and reap the rewards.
1. Brand Visibility
Studies say it takes seven to 11 times for somebody to see your message and actually remember it. One of the best reasons to sponsor an event is the number of people that will have eyes on your brand. This is an opportunity for your business to either solidify your presence in a market, or to start working on brand recall or introduction while tapping into a new market. Plus, many events will add sponsor logos to T-shirts, banners and other take-home goodies, so your brand visibility will live on long past the event.
2. Build Relationships
Rome wasn’t built in a day, and neither are business relationships. Sponsoring an event is yet another area where your business can build trust with potential customers. You’ll form relationships in your community with attendees, other event sponsors and the event production team. If business is a world of connections, this is your chance to expand your network. The more events you sponsor, the more recognition and loyalty your brand can gain.
3. Targeted Reach
Choose an event with attendees who would make the ideal customer for your small business. While the event doesn’t have to align exactly with what your business does, the event should hopefully have the same target demographic or a new market you are trying to reach. Event sponsorship is a great opportunity to get in front of an audience you may not otherwise have the chance to reach.
4. Generate Leads
With event sponsorship, attendees will be a mixture of potential customers who have already heard of your business and some new potential leads. The sponsorship will put your name top of mind for those prospects who are closer to making a purchasing decision.
If “out of sight, out of mind” is true, this puts your brand front and center. If the event is virtual, make sure to ask if you have permission to send a follow-up email to the participants. The more attendees, the more new potential leads for your business.
5. Positive Image
Sponsoring an event can help show what your business is all about, and that’s a good thing. Choose events that you feel positive about sponsoring, such as a cause near and dear to your heart. While creating positive public perception shouldn’t be the sole factor behind sponsoring an event, it’s definitely an added benefit. Pick a great cause and you’ll also feel good knowing that your business is having a positive impact in the community.
Now it’s time to get out there and get sponsoring. It doesn’t have to be a huge event to make a big impact on your business. Choose an event that makes the most sense for your brand, including size, location and causes you support. While in-person conferences may seem like a thing of the distant past, event sponsorship is still a great option to help your small business in a virtual world.
