Occasionally we recommend specific products or services and we may receive a commission if you click those links.
Advertising is great — and, when done well, works. But there are a few other tools you can use to get your name out there, and today’s is sponsorships. Simply put, sponsorships attach your brand to an organization or cause that matter to your customers. When executed thoughtfully, sponsorships can enhance your company’s visibility, build its credibility, and foster deeper connections with your customers.
Why Sponsorships?
Sponsorships are not just for mega corporations; small businesses can reap significant benefits, as well. Sponsoring events, teams, or even influencers, can achieve increased brand awareness, credibility/trust, and customer engagement for your company.
Selecting Relevant Sponsorships
This is the key bullet point. Choosing the right sponsorship is crucial for maximizing impact. It’s not about sponsoring anything available but rather finding opportunities that resonate with your target customers (it’s so important we italicized it!). Here are some key considerations:
1. Understand Your Customers. We’ve spent a lot of time (here, and here, to highlight a couple) discussing the importance of knowing your target customers, what they need, want, and care about. Sponsorships are no different than any other customer interaction. If you haven’t already, start with a deep dive into your customers and what they care about (both from the standpoint of what your company offers, as well as causes they are passionate about). For instance, if you own an organic food store, sponsoring a local farmers’ market or a health and wellness expo could align perfectly with your audience’s interests. It also tells you a little about how your value proposition should align with their needs.
2. Align with Brand Values. Your sponsorships should reflect your (and your business’ core values). It makes no sense to sponsor something your customers care about if you don’t agree with it. So, for example, if sustainability is a pillar of your brand, look for events or organizations that promote environmental causes. If you don’t believe in sustainability (most do, which is why we picked this particular example, but let’s pretend for a moment that you don’t) then it’s insincere to sponsor events and organizations that you don’t personally believe in. This not only attracts like-minded customers but also reinforces your brand’s sincere commitment to shared values.
3. Local Relevance. Most of us are small, local businesses. So for us, local events and organizations often provide the best opportunities for sponsorships that overlap with our target audience. Supporting a local youth sports team, community festival, or charity event can enhance your presence in the community and strengthen (or build) your customers’ loyalty.
4. Scale and Scope. Consider the size and scope of the sponsorship. A smaller, more intimate event might offer deeper engagement with attendees, while larger events provide broader exposure. Evaluate which aligns better with your marketing goals and, most importantly, your budget (who wants their business to go belly-up because of a marketing expense?).
Measuring Return on Investment (ROI)
Our clients know that one of the first questions we ask in an initial introduction is where they found us. For ads and search optimization, this tells us what is working (and what isn’t) and, when sponsoring an event, asking your customers how they heard of you can help highlight the positive impact that expense had on your bottom line. If you use CRM software for your customer interactions, we strongly recommend adding something that lets you identify how your customers are discovering your business (we always recommend Zoho CRM, but most platforms should have the capability). From this information, you can run reporting that allows you to correlate sales and customers who found you through specific channels. Don’t use a CRM? Some accounting softwares (yes, Zoho is one of them) allow you to do this from within the accounting customer file to achieve the same reporting insights.
Incorporating Sponsorships into Branding and Marketing Efforts
Sponsorships can’t exist in isolation from your broader marketing strategy — one of the tenants of integrated marketing communication is that everything should tie in and the messaging has to be unified. This is especially true when it comes to events and sponsorships. The type of sponsorship (organization or event) will determine how you promote it and what your role is at the event (i.e. do you bring a booth and items to give away, or will you stand up at a certain point to be recognized as a sponsor).
Tying It All Together
In a word, be thoughtful about it. Sponsorships can be a great tool to show that you are aligned with your customers and add personality to your business and its brand, but you have to be thoughtful and intentional about how you approach it. Not sure where to start? We can help.
One thought on “Getting your name out there: sponsorships”