Is sponsorship in your marketing mix?
If not, why not? Sponsorships can enhance your marketing mix and create consumer connections that advertising just can’t do. So, here’s 10 reasons to consider sponsorship as part of your marketing mix.
HIGHLY TARGETED MARKETING
The property you buy into already has an audience. If these people are your targets as well then acquiring assets that allows your brand to reach them will be in your interest. The challenge is engaging them in a way that creates valuable and memorable connections.
CHANGE OR ENHANCE YOUR IMAGE
The property you invest in will have its own DNA, personality and set of values. It’ll have it’s own image and public perception. If these match your own brand’s or business’s, by aligning with the property, and telling people about it, you’ll enhance your image or, indeed, reposition it.
Many properties will allow product demonstration and trailing at a location where your targets are locked in. It’ll be important to work out the cost of the rights plus the cost of the activation and how you are going to measure success. Is it a question of the number of people you want to have a go at your product or is it about measuring the increase in sales as a result of the trialing?
Product trialing may generate new leads but are there other assets that allows you to reach more people more effectively? And once you bag some new data for your CRM, how are you going to continue the conversation?
Your agreement should provide category exclusivity and if you can sell your product at the property you’ll have no competition. But it’ll be important the property you choose attracts your consumers.
Acquiring a data base or mailing list will allow you to communicate with a new set of people. But don’t just think addresses - think emails, twitter handles and Facebook.
GENERATE NEW CORPORATE RELATIONSHIPS
If the property has a family of sponsors you’ll have at least one thing in common and probably a lot more. Buying into a property should allow you business to business communication opportunities but rather than the usual breakfasting networking sessions why not invent something a bit more…sexy.
Can the property provide money-can’t-buy experiences for you, your stakeholders or your contacts? Think appearances, think behind-closed doors, think brand ambassadors.
Hospitality provides the opportunity to get your message across one to one in comfortable surroundings while enjoying some form of entertainment. Maybe you’ll sign a deal but more likely you’ll be building relationships. The challenge comes when managing a season of hospitality so you’ll need to plan well.
Check with your accountant, but sponsorships of not-for-profit organisations may be tax deductible.