Your company name is splashed everywhere. You’ve got a good customer base. People know who you are and what you do. So, why in the world would you spend your marketing dollars on annual sponsorship? How can you be sure you will get enough return on your investment if you do allocate money from your marketing budget? Solid questions. Consider for a moment these three factors, and you’ll see why it could be money well spent.
Factor One- Direct engagement. Slapping your company name on everything in sight has its benefits for sure, but what are you doing to get that face time with potential clients? The opportunity to chat with prospects is invaluable- not only does your logo stick with them, but so does your face! You have essentially become the brand they carry away from that contact and I think we all feel more welcomed by a service or product when there is an engaging human touch in the mix.
Annual Sponsorship = Human engagement.
Factor Two- Brand awareness. Brand awareness. Brand awareness. Maybe your brand is well known. But could it be better? Of course it could! By putting your brand in the hands of trusted partners, your company has the potential to reach an entirely new audience; preferably an audience outside of the normal day to day splash. A vast network to which you otherwise would struggle reaching on a warm level. The cold stamp of a brand is far less impactful than when it is delivered by a partner with your company’s best interest in mind. That said, it’s of course wise to partner with someone you have come to trust in the particular space where your message is best delivered. The social media reach alone can have drastic effects on brand awareness when stretched across a new vertical.
Annual Sponsorship = Branding Outside the Box.
Factor Three- Hit ‘em early and often. Yes, there is a quantifiable benefit to be drawn from sponsorship of a lunch, round table, event, or expo, but annual sponsorship draws from ALL avenues and resources a partner has to offer. This one is a no brainer- we see your company name exposed at many events as versus one, we know your face because you’ve been engaged…guess who comes immediately to mind when services are needed? You’re smartly branded company of course! Obviously applying your brand to just any event can be wasteful, therefore that trust and careful consideration as to your chosen partner is vital to ensure the greatest potential outcome and ROI.
Annual Sponsorship = Maximize Opportunity for New Relationships.
At the end of the day, how your company spends its resources is a choice best carefully considered. Both sides of the partnership matter and the relationship should be based in reciprocity to ensure the greatest return. Evaluating how the potential partner will use those dollars, and ensuring that steps are taken to be directly involved in the yearlong endeavor, are just as vital as the company you sponsor. I advocate annual sponsorship because I’ve seen the results. The metrics don’t lie when alignment is right, and to take advantage of every available sponsorship opportunity is to establish new business with the potential to last a lifetime.
Written by Jamie Falasz
Tags: brand awareness, business, Chicago Business Startups, Customer, engagement, entrepreneurship, knowledge, marketing, opportunity, partner, partnership, relationship, small business, sponsor, sponsorship, strategy, Venture Connects