Understand how Sponsorship Marketing works and how to generate results with events – WAU
Sponsorship Marketing is a strategy that allows a brand to reach a large number of people at once and still reaffirm its position in the market, through association with another company. The investment may be high, but so is the return.
Event support is not always one of the priorities of a company’s communication. However, sponsorship marketing can bring different benefits to a business – from growing the fan base to increasing sales.
Sponsoring an event – or even an artist – is a possibility to affirm values, missions and even social commitments defended by the company. Investments are high, but so are returns. To guarantee this, however, it is necessary to choose the beneficiary of the sponsorship with attention and care.
Want to know more about the topic? So continue with us, stay on top of the concept of sponsorship marketing and also see the main advantages of investing in this type of communication.
What is sponsorship marketing?
Sponsorship marketing is the type of marketing in which a brand supports something or someone (artists, events or even a cause), usually in exchange for high visibility. The investment can be made through the direct transfer of funds or through other partnerships, such as dissemination in the media for example.
For this type of action to be successful, there must be some level of affinity between the consumers of the sponsoring company and the audience of the event or artist to be sponsored. In other words, we can say that offering a sponsorship is associate one brand with another. Therefore, the choice of where to invest should be very careful.
The study of public affinity is essential, in addition to the analysis of the counterpart. If your brand decides to sponsor a festival, for example, what does it get in return? Commonly, the reach is the main one of the deliveries, although it depends on the size of the sponsored event.
However, even so, it is necessary to align more specific details: will your business be able to take action on the spot? In which graphic pieces will your brand appear? These are some of the questions that must be answered to ensure a good return on your investment. The greater the sponsorship quota acquired, the greater the rewards obtained.
Why invest in events?
Now that you know what sponsorship marketing is and what the main precautions are when choosing this strategy, here are the three main reasons why investing in this type of action is worthwhile.
Increase brand awareness
More than bringing your brand to a large audience, sponsorship marketing allows you to take your brand to a specific audience. In this way, it is possible to add value and reinforce its market positioning.
If you want your brand to be seen as cool and aimed at a younger audience, it makes perfect sense to join a carnival block, for example.
This advantage is especially beneficial for newcomers and who see an opportunity to stand out through the association with another brand already more established.
But don’t think that only big brands can benefit from this strategy. As we speak, events usually offer different sponsorship fees and even a neighborhood event can be advantageous for a smaller brand.
Present new or specific products
In the end of the day, increase the number of sales is the main objective of each and every business. Sponsoring or supporting events is one way to do this. Large festivals, concert halls or even corporate events do not usually work with competing brands: from coffee to beer, the public must choose between the product mix of the same company.
So, in addition to the increase in sales being practically guaranteed, this is still a good strategy for those who want introduce new products to the market. Another possibility is to promote specific products to a specific niche of the public, the event goers.
Generate engagement beyond social media
Digital Marketing is already a reality for companies of different sizes and segments. One of the main advantages of this type of communication is precisely the proximity to customers and the possibility of engagement with the public.
Well know that taking this thought out of social networks is not only possible but a way of increase the consumer experience with your brand, which is possible through sponsorship marketing.
Commonly, sponsoring brands can promote differentiated actions at the events they support – always according to the quota acquired. Here, the ideal is to think strategically and create something attractive for that specific audience, during that particular event.
At WAU In Rio 2019, for example, Natura not only created an environment for participants to touch up their makeup, but also partnered with Heineken to recycle the glasses used at the festival. The brand managed to unite products, cause, reinforce its position on sustainability, in addition to really adding value to those who were in the city of rock.
Did you see how Sponsorship Marketing can be a good alternative to your business? With the right strategy, your brand can reach many more people, strengthen its position in the market and improve the relationship with the public through unique and remarkable experiences.
Certainly, this type of investment is not low, but it usually brings good returns. However, you may now be wondering how to identify a sponsorship success. If that’s the case, we have the answer! Continue on our blog and learn how to calculate the ROI of an event.