Brand sponsorship can be effective marketing strategies that generate measurable and long-term results. Connecting companies with events of all genres, a successful branding strategy, (along with the right partner), can help you reach your target market. It can also drive sales both during the initiative and long after an event winds down. And finally, it can create lasting connections with your ideal audience.
But just like all varieties of experiential marketing strategies, there are a lot of factors that drive an effective branding strategy and sponsorship. From the events you partner with, to the marketing tools to stand out in a crowd, brand sponsorships are as unique as each specific company and event.
So how do branding sponsorships and ensuing branding strategies work? And what do you need to keep in mind to identify opportunities that not only share your brand with the world, but which end in ROI? It starts by understanding the basics.
The Basics of Sponsorship and Branding Strategies
What is a brand sponsorship?
Brand sponsorship is a distinctive experiential marketing strategy where a company connects with and supports an event, organization, activity. The goal for this connection and partnership is to build more recognition and foster new fans.
One of the alluring aspects of brand sponsorship is that it can be integrated with a wide variety of events:
- music concerts
- fitness activities
And it can be catered to fit your company’s size, budget, and ultimate goals.
For example, a smaller company in the food industry can sponsor a local food truck rodeo, farmer’s market, or other event that attracts fans with great taste. Meanwhile, a larger sportswear company might find their audience at football games, surf contests, or other outdoor competitions and adventures.
There are continually innumerable options and opportunities for sponsorships– both on a global level and close to home in your local community. Hence, it is why brand sponsorships can be an ideal way to reach your niche market.
What are the long-term benefits of a brand sponsorship?
Brand sponsorship opportunities can vary widely, but there are a few key benefits that all varieties of corporate sponsorships share.
These include the following:
- Increase brand awareness for your target market. Your visibility is automatically increased when you are partnered with an event, regardless of size or scope.
- Drive sales and find a bigger audience. Brand sponsorships are a great way to reach audiences who already have interests that align with your company’s products or services.
- Garner publicity. Outside of exposure at the event itself, your sponsorship can also generate press and media attention. This is because you are connected to an event or activity that the public is interested in.
- Stand out in a crowd. A brand sponsorship is a great way to differentiate yourself from the competition. If you are the only business, company, and product of your kind at the event, you get the advantage.
- Generate brand loyalty, and enhance your image. This is especially true for events that already have a dedicated fan base, (like a sports team), or for a charity event where being a sponsor generates a lot of good will in the community.
How can you make sure your branding sponsorship is a success?
The best way to ensure you make the most out of a potential branding sponsorship is to enlist the help of experiential marketing experts. The pros at MOGXP specialize in this corner of niche marketing, and we are happy to help you identify the best options for the highest ROI possible.
On a broader level, there are a few key guidelines to keep in mind when launching a sponsorship marketing campaign:
- Make sure there’s a connection! Sponsorships should not be random, and there should be a definitive tie-in to the event or activity you’re sponsoring, and your company. This is how you ensure that you reach your target market.
- Make your presence known. Don’t just attach your name to an event and walk away. Use it as an opportunity to create memorable encounters with your on-site audience, through experiential endeavors, product samplings, or other enticing incentives that will lure your audience to your company, and your presence at an event.
- Find your opportunities to form long term connections. Many events and / or organizations that offer sponsorship opportunities also offer ways to reach the attendees – through email lists, social media tie-ins, and in-person options for reaching costumers one-on-one, (like having a vendor booth at a trade show, or hosting a VIP activity before the main event.) Find out what these are, and take advantage!
We Can Help
And remember, if you’re new to brand sponsorships and strategies, we’re here to help! Contact our expert team at MOGXP today, and we’ll work together to find opportunities that can help your company stand out in the crowd.