Corporate event sponsorship marketing has now become a very important means for brand presence, interacting with the audience, and achieving real business results. However, how does that actually work and why is it so valuable a strategy?
If event sponsorship marketing is something on your mind; this guide is meant to have all the answers. After reading this post, you will know what event sponsorship marketing actually is and why businesses need it. You will also discover how to go about building a successful sponsorship strategy.
What Is Event Sponsorship Marketing?
Event sponsorship marketing is a partnership between a brand and an event, where the brand provides support (usually financial or in-kind) in exchange for promotional opportunities. The sponsoring brand benefits from increased visibility, the ability to target specific audiences, and enhanced credibility by associating with established events.
Think of it as a strategic alliance between organizers and sponsors. While the event gains valuable resources to enhance its execution, the sponsor taps into the event’s reach, audience, and reputation to achieve its marketing objectives.
Examples of Event Sponsorship Marketing in Action:
- Coca-Cola and the Olympics: Coca-Cola’s long-standing partnership with the Olympics underscores the global reach and brand prestige it gains through sponsorship.
- Spotify at Music Festivals: Spotify frequently sponsors large-scale music festivals to directly engage with music lovers, a key segment of their audience.
- Marathon Sponsorships: Many running events feature fitness and sports brands like Nike, showcasing their products to health-conscious participants.
Now that we’ve defined it, let’s dig into why this strategy is integral for businesses.
Why Should Businesses Invest in Event Sponsorship Marketing?
1. Boosts Brand Awareness
Sponsoring an event places your brand in front of an engaged audience. From banners to promotional materials, your logo and messaging are prominently featured. Whether the event has an audience of hundreds or millions, the exposure can significantly amplify your brand’s reach.
2. Targeted Audience Access
Events typically attract specific demographics and audiences with shared interests. This allows businesses to directly connect with a highly relevant group. Whether you’re targeting runners at a marathon or executives at an industry conference, events give you the ability to reach niche groups.
3. Strengthened Brand Credibility
When your brand sponsors a reputable and well-loved event, the credibility of that event rubs off on you. Customers tend to associate your brand with the positive experiences they have at the event. For instance, sponsoring humanitarian campaigns or environmental events also positions your business as socially responsible.
4. Lead Generation
Sponsorships provide a golden opportunity to collect leads. This could be through setting up a booth, hosting a contest, or offering a freebie in exchange for contact information. By the end of the event, you have not only brand awareness but a list of potential customers to follow up with.
5. Higher ROI Compared to Traditional Ads
Direct engagement at events helps brands establish emotional connections, leading to improved customer loyalty. According to research, event sponsorships tend to yield higher returns on investment compared to traditional advertising because attendees can immerse themselves in your brand experience.
6. Access to the Event’s Marketing Assets
Event partnerships are one of those “win-win” kind of marketing events, advantageous both to the branding company and ay greater extent its hosts. This also in effect saves you the advertising bills. And of course it means your brand winds up seeing more, or at least as many people as it would do otherwise.
Obviously, investing in the marketing advantage associated with any sponsorship of an event is sure to bring benefits to businesses. But not all sponsorships are created equal-a more strategic approach needs to be developed in order to maximize your return on investment.
How To Create an Effective Event Sponsorship Marketing Strategy
Step 1: Define Your Goals
What do you want to achieve with your sponsorship? For some businesses, the priority might be increasing brand visibility; for others, it could be collecting leads or driving sales. Being clear about your goals will guide every decision you make.
Example Goals:
- Increase brand awareness by 25% in target regions.
- Collect 1,000 email subscribers at the event.
- Position yourself as a thought leader in your industry.
Step 2: Choose the Right Event
Not all events will serve your brand equally well. Identify events that align with your values, target audience, and goals. For example, if you’re targeting professionals in the tech industry, something like CES or Web Summit might be ideal. Whereas a family-oriented brand aligns better with festivals or kid-friendly events.
Ask these questions when evaluating events:
- What type of audience attends?
- Does the event align with our brand image?
- What sponsorship benefits are included (e.g., booth space, ad placements, social media mentions)?
Step 3: Decide on the Sponsorship Type
Event sponsorships can take different forms. Here are some examples to help you decide which one might work best:
- Financial Sponsorship: Contribute funding to the event in exchange for branding opportunities.
- Product/In-Kind Sponsorship: Offer products or services to support the event, such as catering, equipment, or transportation.
- Media Sponsorship: Provide advertising support for the event through your platform, such as a blog, podcast, or social media channels.
Step 4: Create an Activation Plan
Your sponsorship won’t accomplish much if attendees don’t notice it. Go beyond placing a logo on banners; think about how your brand will interact with the audience.
Some interactive ideas:
- Set up photo booths for fun, branded Instagram moments.
- Host a giveaway for participants who sign up for your email list.
- Create an immersive experience with games, VR, or product demos.
Step 5: Measure ROI
Set clear metrics to measure the success of your sponsorship. Did you meet your goal of brand mentions, leads collected, or social media impressions? Track these numbers to refine your strategy for future events.
Step 6: Follow Up
Don’t stop working once the event ends! Follow up with the leads you’ve collected or re-engage with participants on social media. Make your sponsorship a long-lasting impression rather than a fleeting one.
Event Sponsorship FAQs
- How much budget should I allocate to event sponsorship?
The budget will depend on the size and scope of the event. Local events may require smaller investments, whereas global conferences will need significantly more. Start small and scale up as you see roi.
- How do I know which events my competitors are involved in?
Look at press releases, online content, and event recaps from competing brands. Identifying their sponsorship patterns can give you an edge.
- What’s the ROI of sponsoring events?
ROI varies widely. Collect data on brand exposure, leads, and engagement metrics post-event to calculate the value delivered.
Unlock the Power of Event Sponsorship Marketing
With event sponsorship marketing, companies can interact and engage audiences in ways that can only be done in real life. It makes all the difference – from greater visibility and authenticity of information to more leads (and longer lasting relationships).This is a marketing opportunity! The next time there is a chance to sponsor an event that matches what you and your organization stands for, take part. With the right skill and technique on-board, event sponsorship marketing can produce results well beyond an internet banner or social media message. Combine ‘event sponsorship marketing’ with the amazing energy of the live event experience. Only then will it be possible to draw maximum advantage out of this strategy for your brand.
