In 2019, business spending on sports sponsorships alone is expected to reach £35bn globally. And there's a reason why businesses in sectors ranging from the automotive, financial, and soft drink industries invest in sponsorships.
Community event sponsorship is an effective marketing tool. While most businesses are too small to consider sponsoring a professional sports team, there are other events you can sponsor.
If you've been wondering why events are important for business reputation or even how to choose an event to sponsor, keep reading. We're sharing six reasons why event sponsorship will boost your business reputation.
1. Community Event Sponsorship Puts Your Business in the Spotlight
Sponsoring an event is a great way to gain respect and credibility. Your business stands apart from every other business.
It's a bit like handing out the biggest, most prominent business card at an event. And it's also a way to display your products and marketing materials.
Sponsor the right event and attendees end up seeking you out, rather than the other way around. The perception around sponsorship is that your business is doing well enough to start focusing on helping others.
2. Helps to Change Consumer Perception
Public perception is what makes or breaks your business. If you're struggling to change your reputation or build a reputation, one way to do that is through event sponsorship.
By selecting a high-profile event to sponsor, the public will automatically assume your business is reliable and reputable enough to be able to help out other organization.
The clout you earn by being a sponsor can help you grow your reputation and gain the trust of your community.
3. Build Community Goodwill
Why sponsor an event? The UK has an £81.3bn market for ethical products and services. Your customers now want to actively do business with companies they feel are doing good for this planet.
This is one way to strengthen your business image. When you choose the right cause to support, linking your business to the worthy cause draws lasting support and media attention.
This is also a way to help set you apart from your competition and even larger brands. Community events provide a new incentive for new and existing consumers to support your business.
4. Spreads Brand Awareness
It's hard to have a reputation when no one has heard for your company. While you can devote a lot of money towards marketing and advertising, it's often cheaper and more effective to sponsor an event.
That's because an event allows you to place your product directly into the hands of your potential customers. If you own a pet store, providing leashes with your company's name at the local animal shelter's fundraiser or walk-a-thon helps build visibility.
Promotional Products Act as Continuous Advertising
And it gives your business the opportunity to directly engage with your target market. It also gives your business the opportunity to hand out promotional items that your customers can continue using which helps remind them when it comes time to purchase another product.
5. Engaging With New People
While social media is one way to reach out and engage with new people, less than a quarter of the UK population (24%) actually trust social media. The reasons for that lack of trust includes doing little to stop cyberbullying, lack of transparency, and selling people's data.
You and your customers don't have to worry about any of these social media issues when you sponsor an event. It's a great way to interact with consumers when their guard is down.
Build Trust Face-to-Face
This way, you're directly in front of new clients and customers and possibly other sponsors and vendors.
You're face-to-face engaging with people. It's a great way to build trust, forge new business partnerships, and meet like-minded people. All you and your employees have to do is be yourselves.
6. Creating Positive Publicity
Not only does event sponsorship provide you with opportunities to engage with new customers and build business relationships, but you also often enjoy extra (and free) media exposure.
It's not unusual for the media to not only cover the event you're sponsoring, but they often include the names and photos of the sponsors. Purchasing this type of exposure is usually too expensive, especially for smaller companies.
And, buying exposure doesn't build as much brand loyalty and trust as organic exposure delivers. Also, it's not uncommon for the company you sponsor to already have a comprehensive media campaign in place.
All your business needs to do is enjoy the added exposure that aligning your company with a worthy cause brings.
How to Choose an Event to Sponsor
It's extremely important to do some homework before you choose an event to sponsor. Otherwise, you may either spend money that yields little or no results.
Or, you may end up sponsoring the wrong type of event which sends the wrong message to potential customers. Especially if it turns out they're aligned with a cause or political ideology your company doesn't agree with.
What to Look for
Find events that make sense for your company to sponsor. A pizza place sponsoring a health fair makes little sense.
There are tons of different types of events to sponsor. There is even a UK sponsorship database to help you find the perfect cause or event to get behind.
Ask About Attendee Numbers
Before you select an event to sponsor, find out how many attendees are expected to show up. A poorly attended event won't help your business out.
If possible, find out who the attendees are. See if you can't access demographic information. The more you know your target audience, the easier it is to deliver what they want.
Find Out About Other or Prior Sponsors
Find out if you can get the names of other sponsors who are also attending the event. And, find out what sponsors have been involved in prior events. But if you find an event where many sponsors return year after year, it's a great indication the event has provided a great ROI (return on investment) for them.
Get Help Building a Positive Reputation
Even with community event sponsorship, if your business's reputation is non-existent or in bad shape, you may need outside professional help. And we're just the ones to provide you with the help you need.
Positive reviews lift sales. Don't wait to build up your reputation and public perception today. Click here to get started.