Sponsorship is the fastest growing form of marketing in the U.S. It is still very much in its infancy, especially in the trade show arena. With this in mind, you can find unlimited opportunities to broaden your competitive advantage by increasing your credibility, image and prestige in sponsoring events attracting your target market.
Some trade show promotional opportunities include sponsorship of the press room, an international lounge, a speaker or VIP room, an awards reception, educational programs, banners, badge holders, audio visual equipment, display computers, tote bags, shuttle buses, napkins and drink cups.
So, why should your company be interested in sponsorship? When done well, it offers significant opportunities for distinct marketing and competitive advantages, as well as showing support of the event.
What is sponsorship?
Sponsorship is the financial or in-kind support of an activity, used primarily to reach specified business goals. According to IEG's Complete Guide to Sponsorship, "Sponsorship should not be confused with advertising. Advertising is considered a quantitative medium, whereas sponsorship is considered a qualitative medium. It promotes a company in association with the sponsee."
A large number of events these days use sponsorship support to offer more exciting programs and to help defray rising costs. Sponsorship allows you to reach specifically targeted niche markets without any waste. In addition, it is a powerful complement to other marketing programs, in addition to having a dramatic influence on customer relations.
Why sponsor?
Sponsorship offers the possibility of achieving several goals at once. According to Schmader and Jackson in their book, Special Events: Inside and Out, a company can benefit from sponsorship in many ways, such as:
1. Enhancing Image/Shaping Consumer Attitudes
Often companies are looking to improve how they are perceived by their target audience. Sponsoring events that appeal to their market are likely to shape buying attitudes and help generate a positive reaction. Coca Cola, for example is always looking to generate a positive influence of their products in the minds of their consumers and as such regularly support events they feel can influence consumer opinions.
2. Driving Sales
Sponsorship geared to driving sales can be an extremely potent promotional tool. This objective allows sponsors to showcase their product attributes. Food and beverage companies often use sponsorship to encourage samplings and sales.
IEG's Complete Guide to Sponsorship cites Visa's fund-raising effort around its sponsorship of the Olympic Games and the U.S. Olympic Team. They promoted their association by offering to make a donation to the team each time consumers charge a purchase to their card. American Express used a similar strategy by donating to needy causes with their "Charge Against Hunger" campaign. As a result, both companies experienced a significant rise in sales volume.
3. Creating positive publicity/heightening visibility
Every sponsor is seeking wide exposure in both electronic and print media. Positive publicity helps create heightened visibility of products/services. Various media covering the event may include sponsors names and/or photos. In addition, the kind of media coverage a sponsor may get is often unaffordable if the company were to think of purchasing it, and if it were available. To maximize this objective, it is important for the sponsoring company to have a comprehensive media campaign to augment the regular media coverage promoted by the organizers. Sponsorship can often generate media coverage that might otherwise not have been available.
4. Differentiating from competitors
The mere act of sponsoring an event, especially an exclusive sponsorship, is a significant way to create competitor differentiation. Your company name has the opportunity to stand out head and shoulders above the competition. This is particularly helpful if your company wants to combat a competitor with a larger ad budget. Sponsorship allows smaller companies to compete with their industry giants.
Target audiences often perceive sponsorship in a positive way. They see you as making a greater effort to support the event, often allowing more or better activities to take place as a result of your sponsorship.
5. Helping with good "Corporate Citizen" role
Another powerful sponsorship objective allows companies to be viewed as a "good neighbor." To be seen supporting the community and contributing to its economic development is extremely powerful and creates enormous goodwill.
6. Enhancing business, consumer and VIP relations
Sponsorship that offers hospitality opportunities is always very attractive to companies.
Perks may include special exclusive networking settings such as VIP receptions or golf tournaments ? opportunities to meet key customers and solidify business relationships.
It is important to evaluate each opportunity and look for ways it could tie into your marketing objectives.
Written by Susan A. Friedmann,CSP, The Tradeshow Coach, Lake Placid, NY, author: "Meeting & Event Planning for Dummies," working with companies to improve their meeting and event success through coaching, consulting and training. Go to http://www.thetradeshowcoach.com to sign up for a free copy of ExhibitSmart Tips of the Week.
If you have been to expos and trade shows as... Read More
Traditional marketing and advertising assumes that all of your customers... Read More
If you want to reduce waste and grow your business... Read More
So you have been writing mortgages like crazy now for... Read More
It is my belief that if anyone is to suceed... Read More
I don't know about you, but I am still waiting... Read More
When commercials come on the television do you get up... Read More
Copywriters that try to be clever, humorous, abstract, or use... Read More
Once you have the attention of a business prospect, at... Read More
One of my associates sent me a promotional email she'd... Read More
One of the most powerful, yet over looked weapons in... Read More
I'd like to introduce you to someone. I don't actually... Read More
Building business relationships through networking is a great way to... Read More
Ten Crucial Questions for Your Business Future I'm... Read More
I had a telemarketer call me recently. Here's a rough... Read More
It has become fairly common place to see Id badges... Read More
Marketing is a business process about which much is written,... Read More
Ok, before we get down to the benefits of... Read More
Direct mail is a cost-effective way to make sales and... Read More
When marketing your practice, as well as designing yourbrochure, web... Read More
Most business owners get so involved in the work of... Read More
The Mail Order business is not a business of itself,... Read More
Direct Marketing works!Why? It works because it's personal. It carries... Read More
Positioning is a powerful concept in marketing. To illustrate, have... Read More
A great way to gain more local sales is to... Read More
Times are a changin'! More women today work outside the... Read More
Are your marketing messages to Realtors® guilty of these promises?-... Read More
The telephone enables a credit manager to make many contacts... Read More
A person or business that might buy from you is... Read More
Subtle adj. Showing or making, or capable of showing or... Read More
Apple Computer just announced that their earnings from the last... Read More
Today I've decided to share with you a new word... Read More
Many artists create art but when it comes to marketing... Read More
Last week I took our two boys on an all... Read More
The phone rings. Good news... it's a potential client. You... Read More
Starting to collect proper information to create a... Read More
First I want to welcome you to part two of... Read More
So, you´ve been around for a while, and maybe even... Read More
We all know the familiar adage "if it walks like... Read More
Telemarketers... ooohhh... I'll bet we've all got a nice story... Read More
If your members, parents or donors wear clothes, watch t.v.... Read More
It's almost a given that when I speak to a... Read More
Joint venture marketing is a lucrative way of leveraging the... Read More
Are you trying to promote your business with a tiny... Read More
Marketing is like rowing a boat. When you know how... Read More
With the arrival of Spring, I decided to get outside... Read More
Timing is everything. Hate to be late? The early bird... Read More
Nothing gets people buying products or programs like a special... Read More
Ahh, the mission statement. For some companies it simply describes... Read More
If there is one thing I can't say enough it... Read More
Small & Mid Sized Business owners, have you revisited your... Read More
The key to success in any business relies a large... Read More
These steps are taken from the Referral Flood Marketing Program.... Read More
We live in an unprecedented era of communication. Because of... Read More
Recent studies concerning the "new world of women" have been... Read More
So... you spend time and effort putting together a survey,... Read More
Imagine having at your disposal a means to immediately inform... Read More
Many business owners do not understand the authenticity and validation... Read More
Many service business owners these days are "giving away" their... Read More
Keeping in touch can dramatically increase business, when done properly.It's... Read More
If you are a mobile auto detailer or mobile car... Read More
In today's competitive (sometimes cutthroat) marketplace, savvy business owners need... Read More
The lowly postcard?it's more than just a "having fun, wish... Read More
Revolutionary ideas have always been the mark of mankind. It's... Read More
Have you thought about starting your own business? Have you... Read More
Are you planning an event or participating in a trade... Read More
Marketing |