Event sponsorship is a form of marketing strategy where a company provides financial or other types of support for events like concerts, conferences, or sports events. In exchange, the company gets exposure to a large audience, increases brand awareness, and has the opportunity to engage directly with potential customers.
One of the most popular forms of event sponsorship is sports sponsorship. Companies sponsor sports teams or individual athletes to increase brand visibility and recognition among sports fans. It's an effective way to reach a large and passionate audience.
Product placement involves integrating branded products into the event in a way that's natural and unobtrusive. This strategy works well for televised events like award shows or reality TV shows that have a wide audience.
Brand activation is a type of event marketing strategy that aims to engage consumers directly with the brand. It can take many forms such as experiential marketing or social media campaigns. An example is Red Bull's Stratos jump that allowed them to connect with their audience by sponsoring Felix Baumgartner's record-breaking skydive.
Experiential marketing creates an immersive experience for consumers, allowing them to interact with the brand in a unique way. An example of this type of event sponsorship is Samsung's "SOS Island Challenge" where contestants were required to use only their Samsung devices for survival tasks.
Event marketing strategy refers to using events as part of your overall marketing plan. It can include things like hosting your own events or sponsoring events that align with your target audience. For example, Coca-Cola sponsors music festivals and events around the world.
Event sponsorship provides numerous benefits such as increased brand awareness, exposure to a large audience, and direct engagement with potential customers. It can also lead to increased sales, brand loyalty, and a stronger brand image.
You can measure the success of your event sponsorship by tracking metrics like social media engagement, website traffic, and sales. You can also conduct surveys or focus groups to gather feedback from attendees.
The cost of event sponsorship varies depending on the event and the level of sponsorship. In general, larger events and higher levels of sponsorship come with higher price tags. It's important to determine your budget beforehand and carefully consider the ROI before committing to an event.
Choose an event that aligns with your brand values and target audience. Consider the size and reach of the event, as well as the level of competition for sponsorships.
Some common mistakes include not defining clear objectives, failing to negotiate terms upfront, not adequately promoting your involvement in the event, and not following up with attendees after the event.
Create an engaging experience for attendees that aligns with your brand values. Offer unique experiences like photo booths or interactive displays, provide giveaways or contests that encourage social media engagement, and offer special promotions or discounts to attendees.
Yes! Small businesses can benefit from sponsoring events by getting exposure to a new audience, building relationships within their local community, and creating networking opportunities. Smaller businesses may consider sponsoring local charities or events that align with their niche market.
