Five Reasons to Invest in Corporate Sponsorship

In the world of marketing today, businesses can now use different methods, ideas, platforms or strategies to promote their products and services. Sponsorship seems to be one of the best means with  huge potential and payoffs. It is an efficient way to promote brands and products in any environment. Sponsorship gives a wide opportunity for brands to easily and truly connect with their market audience and grow fast. In boosting visibility both online and through traditional channels, brands need to leverage on sponsorship marketing to reach quality audiences.

For reason of clarity, corporate sponsorship is when a business supports an event, individual or other businesses, either financially or by providing a service or product. Your audiences are actually looking forward to what event you support or businesses you work with. Your aim when taking up corporate sponsorship may not be tied directly to sales. It could be to gauge customer perception, for research, as a CSR tool or downright for lead generation.

It can be very difficult to get into some sponsorships for the just sake of it, but it’s a business strategy that can help boost brand visibility. A brand can also create a sponsorship event to partner with other brands that may be interested and are not competition.

Here are five ways a brand can benefit from corporate sponsorships:

1. Brand Awareness: Creating brand awareness is one key thing in promoting a product or service and increasing the rate of customer loyalty. Sponsoring an event can help create more awareness to a broader market and also keep the product or service in the minds of existing consumers. Corporate sponsorship on the other hand keeps the brand in the spotlight thereby enhancing credibility and boosting the image of the brand.
2. Competition: Being ethically compliant or committed to your environment gives a big opportunity for your brand in the faces of the target audience. This is because people tend to rely more on companies that care about them than other brands. Since Sponsorship helps to develop new relationships with current and new consumers, other brands might see it as a threat. As a brand in a more competitive market, sponsorship makes you stand out amongst your other competitors. This helps generate more sales and shifts the attention of your audience to your own brand.
3. Brand Image: A good reputation for your brand is what keeps you in the market. A brand without a good image will not portray well in the face of its consumers. The brand of any business is the perception it has created  to its consumers and how they carry along with the recall. Sponsorship goes a long way in maintaining a positive brand image for any business. In portraying a good brand, the organization will experience growth in its profit and favourable public opinion from its audience.
4. Not Expensive: Brand sponsorship is not as expensive as advertising. It is free publicity in another form. It is direct engagement and for a brand in an event or a show, it gives easy awareness and ways through which that product can be used. It makes it easy for an audience to connect with the brand without having to go through the regular advertising process that costs a lot in placing in publications.
5. Brand Recall: Sponsorship brings awareness, and should be able to stick in the minds of consumers. By sponsoring another brand or an event, everything about your brand or product is associated with that brand. Consumers will tend to remember your brand long after the event, since the brand was associated. And this can be as a result of promotional materials, giveaways or how well the brand was able to merge with the event.

Sponsorships can emotively appeal to consumers and they tend to trust such brand more so it sticks, the picture about that brand sticks.

If you have not tried it before, why not give it a shot. If you require PR ideas and support, feel free to get in touch.