The Marketing Value of Corporate Sponsorships
Corporate sponsorships might be the marketing solution you are looking for. They can help your business achieve wider visibility and name recognition in your local community. These sponsorships are often cost effective, while providing a win-win deal for the organizations involved. For a payment, your local business will gain exposure and trust, while an event, group, or nonprofit group gains the materials it needs to function. Corporate sponsorships can benefit businesses and non-profits of all sizes and levels of marketing.
Increase Visibility
Corporate sponsorships will help lesser known businesses become more visible to potential customers and clients. The first step to becoming a trustworthy name is to become a recognized name. Although some corporate sponsorships will carry a hefty price tag, there are many opportunities to cheaply sponsor a local group or event. These sponsorships will easily pay for themselves in exposure.
Community Involvement
Small businesses will benefit from showing they are involved in their local communities. Little League sports teams often accept corporate sponsorships. In return, your business’s name will usually appear on the players’ jerseys, and the team will usually be named after your corporation. Local involvement not only spreads the word about your services and products, but it helps the community to see you as a helpful and contributing member of their society.
Improved Reputation
Many corporate sponsorships are given in support of a non-profit cause or organization. Associating your business with a charitable event will show your community that you are a socially responsible and ethical business. Future customers will remember you as the corporation that supports literacy or breast cancer research.
Creating Partnerships
Corporate sponsorships can be targeted to events or organizations that complement your business and are most likely to attract your ideal customers. If you own a car dealership or a mechanic’s shop, consider sponsoring a local car race at the race track. Booksellers may choose to sponsor a local book drive or a fundraiser to support education in third world countries.
Targeting is an important part of corporate sponsorships. While you are not blatantly advertising, you are still trying to reach a particular audience. Sponsor events and organizations that your target audience identifies with and you will be well on your way to building a better, more trusting relationship with your core customers. Corporate responsibility does pay, by providing all of the above mentioned benefits that feed directly into positioning.
If you would like the opportunity to learn more about best practices in the marketing field, you may want to consider joining a professional organization. The American Marketing Association-Tampa Bay Chapter hosts myriad informative events. Come see what we are offering and join us at our next function.
Sources:
Related Posts: