No matter the name, partnerships, sponsorships and supporting roles create bigger and better experiences because of the relationship.
Pulling heartstrings.
Loyal customers are a valuable asset. The absence of tangible differences among products or services is an inescapable consequence in today’s marketplace where emotional logic has become the single most important business driver. Without emotional ties, a product or service is just like every other product or service. Affinity or cause marketing events and partnerships mean effective marketing is not tied to ears and eyeballs, but to heartstrings. Through sporting events, entertainment, the arts and nonprofits, smart companies can build brand and customer loyalty by affiliating their company, or its products and services to issues, events and organizations that current and potential customers care about.
Bigger pie.
Sponsored events create media opportunities. Whether through media partners or publicity, event sponsors gain big visibility because events typically generate wide media exposure. For many businesses, the cost of purchasing the same amount of media exposure that a sponsorship may garner through advertising or public relations is not affordable. In a challenging economy, sponsor affiliations can be very a valuable part of the marketing mix, expecially for smaller companies.
Seeing is believing.
Sponsorships can create, change and definitely reinforce the image of a brand. While images and brands can be projected through advertising, paid media can lack authenticity. Sponsorships create direct visual exposure to key audiences and the associated media attention creates credibility. The seeing part is big just from the courtside, trackside and on-the-field event banners and graphics.
Driving traffic.
When companies use the assets of their sponsorships they have many opportunities to create traffic-building promotions to event attendees. Sponsors can typically showcase products at events. Attractions, restaurants or service business may offer discounts. Media outlets can distribute premium items. Take a closer look at the logos printed on t-shirts worn at the gym, grocery store and at school.
Customers speak.
They are willing to reward, or even worse, punish with their wallets. Just think of the recent backlash following the BP oil spill when consumers started a campaign to boycott local gas stations. The spill was not caused by service station and store franchisees, but the oil disaster affected owners all over the U.S. Consumers say “social responsibility” is the number one factor that influences their impression of a company – more than brand quality or business essentials.
Hook ‘em and book ‘em.
Sponsorship are a great hook for driving sales. For example, the sponsorship of a retail product can be used to boost shelf space and increases co-op advertising. Sponsorships can be tied to in-store displays, coupons may be printed on partner bags, and for businesses such as banks new clients come directly from the sponsored teams and venues. This next month watch for the fast food restaurant that will partner with Universal Studios for the added value of luring hungry patrons also seeking discounted Halloween Horror Night event passes.
For more information on sponsorships or if you need help creating the right sponsorship plan for your company, product or service contact me today at 407-341-9866.
Posts
