Sponsor marketing is the fastest growing form of marketing. Consider using marketing techniques to increase your credibility, improve your image, and build prestige when you do sponsorships that attract your target market.
Sponsorships should not be confused with advertising. Advertising is considered a quantitative medium, whereas sponsorship is considered a qualitative medium. It promotes a company in association with the sponsor.
Sponsorship offers the possibility of achieving several goals at once:
Building brand awareness
You can spend a lot of dollars on print advertising or on audio and television commercials, but you’ll spend a lot less and perhaps achieve a better result if you can simply put your product in the hands of potential consumers.
Driving sales goes hand-in-hand with brand awareness. Sponsorship that’s geared to driving sales can be an extremely potent promotional tool.
Creating positive publicity and heightening visibility
Every sponsor seeks wide exposure in both electronic and print media, and positive publicity helps create heightened visibility of products and services. Various media can cover the sponsors’ names or photos. This kind of media coverage is often unaffordable if the company were to think of purchasing it—if it was even available at all.
Differentiating from competitors
The mere act of an exclusive sponsorship, is a significant way to create competitor differentiation. Your company name has the opportunity to stand out head and shoulders above the rest.
Enhancing business, consumer, and VIP relations
Sponsorships that offer hospitality opportunities are always attractive to companies. They can include special exclusive networking settings, such as VIP receptions or golf tournaments, which provide opportunities to meet key customers and solidify business relationships.