2021 is on the horizon and there is no better time than now to make sponsorship plans. COVID-19 has affected the event landscape in a major way. Events are changing, and so should the way sponsorships are planned and executed.
Every business in the market wants to create an image of success and authority. But it’s not very easy when you are competing with the large, already established, companies. Through event sponsorship you can leverage the power of credibility.
If you are thinking of stretching your marketing budget, here are 10 reasons why you should sponsor an event.
Brand Visibility
Sponsoring an event brings your business in the limelight. The event you sponsor puts your business in front of a global audience and gets you a lot of mention in the social media and press. The bigger the event, the bigger the reach.
And in an era of virtual and online-hosted events, reach is actually increasing. More people are open to the idea of attending an event from the comfort of their couch. You don’t have to rely on only reaching the people who enjoy public outings. Under COVID lockdown measures, both audiences are engaging in virtual events.
Lead Generation
With event sponsorship you reach a huge population at one place. You get to meet your target audience and approach them all under one roof. The event organizers also provide a list of attendees which you can use for email marketing.
Business Relationships
Event sponsorship is an opportunity to meet non-competitive companies from your industry and in your area. Sponsorship is a way to collaborate, rather than compete. You can learn more about other businesses that share your target audience and likely hold the same values, which could help plan future partnerships.
Increase Sales of Products
With event sponsorship you get to increase your sales. You can put your products in the hands of your target audience and let them experience it. You can also pass on some free samples which will lead to increase in sales. In the virtual space, you can give product or service demonstrations. You can even have an easy way for the viewers to click through and sign up to learn more, opt in to email messaging or just make a purchase!
Show Social Responsibility
Event sponsorship is a way to show that your business supports a cause or mission about which your customers are passionate about. It helps you to build an image in the society and connect with customers on an emotional front.
Enhance Content & Social Media Marketing
Sponsoring an event gives you a lot of content for ramping up your strategies. Events can put your brand name in every possible social media platform including the event’s official website boosting your reach on social media.
Improve Your Company’s Image
When your business sponsors a big event with a wide enough base, the public perception of your business is as big as the host of the event. People see you as big professional and reputable business.
Learn More About Your Target Audience
Event sponsorships are an opportunity to meet your target audience, though not always in person. Virtual events will continue to be popular even after we start returning to in-person gatherings. But both types of events allow you to interact with your audience.
As a sponsor, you can work with the event host to hold an interactive Q&A segment as a part of a virtual event. Get the audience engaged and learn what they’re interested in, and ideally tie it back to what your business does.
Sponsorships are Affordable
Radio, television and print ads continue to work well and even work together. However, these take a great deal of your time and could potentially be out of your budget. Event sponsorships save you the time and money of having to target an audience. Let the audience choose to come to you through the event.
Get a Strong ROI
All in all, event sponsorships get you a solid return on investment. You get to approach your target audience, increase your sales and you get a list of leads to follow up with afterwards.
Event sponsorship is a deal with a lot of benefits. So start planning how this could fit into your 2021 budget now, before sponsorship slots fill up. Events often live or die based on sponsors, so showing that you have interest and can help support live and local events can help everyone involved.