Updated: Mar 11
Unsure of whether a sponsorship is right for your business? Check out our three most important reasons why sponsoring an event can benefit your business.
Most businesses strive to generate revenue and acquire new customers. They continue to exhaust traditional marketing tactics without recognizing that their efforts become lost in the thousands of marketing messages consumers receive daily.
1. Branding and PR
If you’ve chosen to work with an organization that aligns with your business’s values, sponsoring an event can be a great branding and PR tactic. Choose an organization that shares your target market but offers different services. For example, it would make sense for a small physical therapy office to sponsor an event at a local gym or community center. Having your business's logo appear on apps, banners and event swag allows your brand to be front and center, even after that event has ended.
2. Target Exactly Who You Want
Unlike other forms of marketing, a sponsorship allow your business to personally connect with your target audience. One of the first questions to ask yourself should be, “Do the attendees of this event match my target audience?”. If they do, then its time to morph your sponsorship around the attendees. Use the space or booths provided at the event to create lead generation activities for guests and reach your event goals.
3. Track ROI
Whether the goal of your sponsorship is to generate leads, sales, or new customers, measuring your ROI from a sponsorship can be a powerful marketing tool for the future. Before investing in a sponsorship have a clear, measurable objective. If your business values lead generation over any other objective estimate the value of each lead (CPL) you could receive and factor that into you. Remember to be proactive and organized before you go into your event. Keeping track of your ROI can be tricky in the heat of the moment.
Sponsorships are a lucrative way to build B2B relationships and market to your target audience. By carefully selecting the event you choose to sponsor, an afternoon event can turn into a networking, recruiting, or lead generating opportunity for your business.