4 ways sponsorship builds your brand
Sponsoring a worthwhile event or cause is a great way to build awareness for a new brand, or strengthen an existing one.
As a result, sponsorship is the fastest-growing form of marketing in North America, according to IEG, a sponsorship consulting firm.
Here are four ways sponsorships can help build your corporate brand.
Grow brand awareness.
As an event sponsor, you gain valuable media exposure for your brand in the days, weeks or months leading up to the event. In addition to print and electronic media coverage, giveaways, gift bags and other sponsorship assets give your brand heightened visibility with an audience it might not otherwise reach.
If you want to be known as an authority in your industry or region, sponsor a high-profile event rather than just attending it. An event sponsorship puts your name, products and marketing materials front and center for attendees, giving your brand instant credibility and setting it apart from the competition.
Thirty-three percent of consumers choose to buy from brands they believe are doing social or environmental good, according to a 2017 Unilever study. Sponsoring a charitable event or cause your company views positively can generate goodwill and respect in the local community — and with potential customers.
Reach your target audience.
Sponsoring activities that are a match for your target audience gives you a new way to connect with those not familiar with your brand. Event organizers will handle marketing and the promotion of the event to get the right people; all you need to focus on is crafting your brand message for a ready-made audience.