There are many ways to reach out to your target audience. Sponsoring trade events is one of the best ways to market your brand and get an excellent return on your investment. This is a win-win situation. The event gets the funding and support it requires and your brand gets put in the spotlight.
There are many benefits of sponsoring an event. Still not sure, this is something you should get into? Here are a few reasons that could make you change your mind and take a step forward.
The first rule of marketing a brand is to make it visible. Nothing beats sponsorship at brand visibility. Being a sponsor puts your brand in the spotlight and makes sure everyone attending the event knows about you. Most events also give sponsors a spot to talk about their brand and products. Being a major sponsor of an event will make sure that you are given both online and offline visibility as part of the event’s marketing.
Target the Right Audience
When you put a print ad out, you don’t know how many of the readers are actually your target audience. For example, if your brand sells home insurance, how many of the readers actually need it? However, when you choose to sponsor an event, your brand will be made visible to an audience that is truly your target audience. For example, as a manufacturer of medical equipment, you would obviously only sponsor medical events. These in turn would be attended primarily by doctors and hospital workers who are part of your target audience.
Boost Your Image
When you see a brand sponsoring an event people tend to think of that brand as a leader in the field. You don’t expect newcomers to sponsor events and events don’t look at new comers in the industry as sponsors. Thus, by sponsoring an event you get the opportunity to boost your brand image. When you decide to sponsor an event, pay close attention to how the event is being named, where you will feature and what collateral your brand will be seen on.
Engage with the Audience
As a sponsor, you can be present at the event throughout the day without any questions being asked. This gives you a chance to talk to people attending the event who may need your services. You can also ask for a stand where people can view demonstrations and interact with your brand. Having a simple lucky draw at your booth can invite people to drop their visiting cards and help you expand your market. A word of advice: do not use your stall or personal interactions to promote your brand. Instead, focus on imparting useful knowledge. The marketing will happen automatically.
When you are the sponsor of an event, every time the event is marketed, your brand will be pushed as well. Whether it’s through print advertisements, radio, television or social media, your brand will be marketed without your having to put in any effort. There is a further benefit when your brand name is mentioned on collateral like bags and stationery. This way, it will continue to be marketed long after the event is over.
New Business Partnerships
When you sponsor an event your brand is visible not only to customers but also potential business partners. By being present at the event or exhibition, you also get a chance to meet these people and further your brand. This can introduce you to people you may want to work with in the future, people who might need to work with you for a project of theirs as well as people who have projects that would be perfect for you. Can you think of a better way to meet a number of like-minded people at once?
Set Yourself Apart
By putting your name on the event’s masthead, you are putting yourself above your competitors. This drives a very noticeable wedge between your brand and other brands in the same field. Even if your competitor has a larger advertisement budget, he will not be able to get the publicity and audience that you can get by sponsoring an event. This is also a good way for small firms to get themselves noticed.
To achieve all of this, you must ensure that as a sponsor, you can add value to the event and the people attending it. Invest your personal energy into the event and your efforts will surely be rewarded.