A well-selected sponsorship agreement for an event, be it an exhibition or trade show, can bring in a bang for marketing bucks and an incredible return on investment.
According to research, 81 percent of attendees for trade shows possess buying power, and 67 percent of all attendees could be prospects for the exhibiting companies.
This would mean that event sponsors have a goldmine of an opportunity to showcase and sell their products to highly engaged target markets on the go. Around the world, more thousands and millions of dollars are being spent on sponsorship, thanks to technological advancements that give companies more data and insights to their target market.
Sponsoring an event gives your brand an opportunity to generate awareness and upheave the perceived image of the business. While gaining media exposure, such brands also have the
non-negotiable prerogative to naming, mentioning and collateral. From conference apps and to event maps, companies can choose where and how to display their logos and slogans to the glare of an engaged crowd.
If there is an element of the event, you can have naming rights to, it is likely that the media will use the same name for their publications. Familiarity is the bedrock upon which every venture is built, so the more significant experiences a brand is associated with, the more awareness it garners.
Most small brands take the mandate to sponsor large events in order to connect with the communities they serve.
Event sponsorship can be fashioned in a way that it will allow businesses involved to establish a strong connection with other business leaders, around-the-corner enterprises and the people that dwell in the communities. It is one of the best ways for a team to give back to the community while connecting with new markets and prospects at the background, most of which could luckily just be waiting to be tapped.
A business that bolsters a community is the one people are most likely to go out of their way to patronise rather than turning to its competitors.
Increased Brand Credibility
While creating awareness about a brand is something common, inspiring respect and admiration for the same business are usually neglected by most entrepreneurs. Well, the truth is, letting people know your business exists is not always enough, because there are other questions that need to be answered - such as: “Why should we buy from you?”
Sponsoring an event is a significant medium through which a brand can drive positive PR and build credibility. Not only can brands use the opportunity to get people talking about their products and services, but event sponsorship is also a way to position businesses in their respective niches accurately.
Sponsoring events is mostly all about planning ahead. By contributing to hosting great events, businesses are able to reach further into the grassroots and get the one thing virtually all of them are on the lookout for - customers.