Sponsorship is fast becoming one of the most effective forms of marketing in the global markets. Marketing techniques that encompass associating your brand with local events can extend your competitive advantage immensely. Even though event sponsoring is becoming known among the marketing circles it is still in a very nascent stage and event organizers often face the daunting task of finding an appropriate sponsor. A massive portion of this ordeal is a direct result of the incapability of the local businesses to realize the fact that sponsorship is a key to local marketing.
Who Needs Brand Marketing?
It is a misconception that only large national businesses require branding and marketing. In today’s day and age, even a small business house is required to differentiate itself via an effective marketing strategy. However, branding for a small business owner can greatly vary from a branding done by a national business house. The most important result of marketing is the activity of generating trust among the prospective and current client bases. For a local business owner, the best way to achieve this is by being visible locally. Sponsoring local events is one of the most efficient ways of increasing your popularity among the local clientele.
Sponsoring events locally will surely help out your community. Additionally, your business can achieve a certain brand recognition at a much lesser cost. You need not spend any money at all to sponsor a local event. You can link your name with the event by supplying goods and services that boost your business and fulfill the requirements of the event. For instance, if you own a local printing shop, you can supply banners and pamphlets for the event that carries your name as a sponsor. Or, if you own a cafe, you can provide the space for hosting the event itself. This can help you gain more customers rather than giving money to the organizers as the attendees will get a first-hand experience of your business and brand.
As a key to local marketing, sponsoring local events can help your brand reach people who might not come across the same in their normal course of the day. Partnering with local community figures and teams can open more doors for your business as well. Sponsorship can be considered as a form of ‘pull’ marketing rather than a ‘push’ marketing. You are attracting clients to your business through indirect means that seem more subtle.
As a business owner, you are not just generating brand awareness but also brand recall by associating your products with a popular local community event. By raising the image of your brand within the community you are more likely to appear in online searches as well. People will talk about you and Google will hear the chatter. Sponsorships done rightly can also help you focus on the quality of impression that your brand is making among its targeted audiences.
Most event organizers offer free marketing services in return that can help increase your brand visibility. At some events, like local fairs, you can set up your stall or a small shop outlet and have a physical presence within the community event itself. At such events, you get a much better chance of showcasing and highlighting your brand and business that at most other avenues of marketing.
Most large scale community events are covered by local media like the community radio and newspaper. Think about all the free publicity your business will receive when it gets mentioned on these media channels as one of the main sponsors. Potential customers are likely to remember your name for a long time. It is also the best time to gain extra exposure to your existing customer base and reinvent your image if you are an old business house. Associating with events that attract the youth of the community can help you gain popularity among them and this can help you diversify your brand image.
Setting Up Base
Most marketing experts agree that sponsorship is key to local marketing as it can unlock the previously closed doors. This can be especially effective if you own a new business and are looking towards a more concrete standing in the local markets. Print media and TV adds can take quite a few dollars out of your business profits whereas, sponsorship demands come in more flexible sizes. You can sponsor an event partially if you don’t want to increase your marketing budget.
An exclusive sponsorship can be key to achieve positive local marketing. You can create a significant difference between your business and the competition. Be on the lookout for such an opportunity, especially if your competitor has larger finances allocated to marketing. Becoming a local sponsor can make you stand out among your competitors. Additionally, you are directly present at the event you are sponsoring and this gives you a unique opportunity to generate interest in your brand among those present. It can also help you get a real feel regarding your products and services and help you align the same with the expectations and requirements of the community.
The Good Samaritan
As mentioned earlier, finding the right sponsor can be a crucial task for any event organizer. Therefore, by agreeing to sponsor one, you are likely to be viewed as an asset to the community. You are considered as a local figure trying to help out the community. It can deepen your links to the community and make you more trusting among the potential customers. The goodwill that gets generated can provide you with a unique opportunity to engage your audience.
So how to unlock local marketing potential with sponsorship?
Follow some simple steps to begin sponsoring events locally,
Align partnerships with organizers and the community centers that host important community events. Make sure that you get in touch with those that resonate with what your business offers.
Sponsorship is a key to local marketing for which you are not required to spend any cash. Try to find ways to sponsor in kind. Your contributions can be in the form of your goods or services. Make them positively unique so that the community talks about it for some time to come.
Lastly, make sure that the sponsorship works in your favor as well. Try to negotiate the maximum possible benefits that your business can generate by associating with a particular community event.