It’s time to take advantage of the simplest and most affordable way to market in order to reach your target market. Stepping outside of the previous boundaries of marketing, it’s time to introduce sponsorship to your business. Sponsorship will help your business become an authority in your industry whilst being at a marketing and competitive advantage. Sponsorship will open you up to multiple new networks and opportunities, all of which are essential in the realm of business. Through using sponsorship you’ll be actively participating in the most efficient and effective way to reach the masses. Here are the top 5 ways sponsorship can help you market your business.
1. Generational Goldmines
There’s a multitude of places to positively gain exposure for your brand through sponsorship. According to Forbes article on using music festivals to reach millennials, “around 80% admitted that the best and most effective way for brands to connect with them is through a branded live music event” and those millennials who were attendees of a branded music experience “come away with a 37% better perception of the brand”. Essentially, sponsorship opens up doors in order to new clientele to participate in what your brand has to offer. If it’s associated positively, then you’ve generated a new client base. Bravo!
2. Save Your Breath
Instead of choosing to attend “networking events” where you’ll be amongst a sea of other entrepreneurs handing out their business cards with rapid fire, sponsorship will allow your business to speak for itself by being on display in front of the masses. You'll be able to play a key role in the event you sponsor instead of just being another face in the crowd.
3. People Love Free Stuff
Seriously. They really, really, love free stuff. People gladly give out their emails and phone numbers for sponsored raffles in order to win free prizes, samples and trials. Therefore, you’ll be able to use sponsorship to generate new leads for your business.
4. Get Out There
Every attendee of an event you’re sponsoring and/or being sponsored by is a potential new customer but so are the fellow vendors and sponsors! You’ll be able to use this time and space to meet like minded business people who work in complementary industries with the same target market. This will aid you in discovering new ways to reach your ideal demographic.
5. It Takes Two to Tango
Move. Produce. Deliver. Although the relationship is clearly beneficial for yourself, understand that just because you're sponsored it’s not all about you. This relationship is mutually beneficial so even if you aren’t directly monetarily paying it forward, work to make yourself worth your sponsors time. They’re investing in you in a multitude of ways, return the favor and word will spread that you’re a wise investee.