The Success of Sponsorships as a Marketing Tactic
In the United States, the fastest growing form of marketing promotion is sponsorship. It has proved a revelation for many small businesses, significantly increasing their profiles, expanding their customer bases, and increasing their profits.
This begs the question of why domestic businesses aren’t following this example and turning to sponsorship themselves. The answer is simple: there is a misconception over how much sponsorship really costs. In fact, according to numerous studies, the total is little different to more traditional forms of marketing.
But is it effective in the UK? The answer is a resounding ‘yes’. Like other marketing tools, from brochures to fliers to social media and media releases, it can be used as a handy tool to achieve your business goals. Ideal for refining your image and getting your name into the big wide world, here are just three of the reasons that you might like to follow in the footsteps of companies like FxPro and give it a try…
#1: Sponsorship Can Be Used to Refine Your Image
One of the key ways that sponsorship can be utilised is as a means of improving your image. Attaching your name to industry-wide, community-wide, or charity events is a great way to showcase your benevolent brand values, and it doesn’t have to cost a fortune. Many event organisers will be happy to accept donated products, prizes for competitions, or even a team of volunteers in exchange for adding your company name to their list of sponsors. Thus, you’ve managed to do something altruistic and paint your company in a positive light, without breaking the bank.
#2: Sponsorship Can Increase Your Brand Profile
Another - rather obvious - boon of sponsorship programmes is that they help to get your name out into the public sphere. The more high-profile the brand or event you sponsor, the wider the audience you’ll be able to appeal to, but even those without the means to sponsor a sports team can still make their mark. If you don’t have the budget for total global domination, focus instead on utilising opportunities at your local level: approach a local newspaper publication, for example, or make a donation towards renovating a local sports venue.
#3: Sponsorship Can Help to Set Your Apart from Your Competitors
The world of marketing is competitive – we all know that this is the case. Every company tries to use the same tactics, so that consumers are faced with a myriad of identical appeals, none of them standing out from the crowd. Everyone is taking advantage of the airwaves and social media, so you need something to set you apart: sponsorship is ideal. Use it to rise above the usual marketing din, and mark yourself as distinct from your competitors.
Explore your sponsorship options today to give your business the boost it needs.