Marketing is a vital part of business survival and success. The cost of traditional business advertising is growing significantly large and more companies are seeking alternative options to get their brand of business to the masses.
Events, fundraisers, and community affairs are great ways for businesses to gain exposure. Sponsorship appeals to the masses and is an effective way for businesses to express goodwill, demonstrate social responsibility, and connect with others within their communities.
What is Sponsorship?
Sponsorship is the state or practice of financially endorsing, supporting, or patronizing a cause, event, or initiative; sponsors co-host responsibility for the success of the event.
Ideas to Get Started
Exposure to potential clients and customers is accessible by sponsoring free items like t-shirts, banners, or other promotional merchandise at events, fundraisers, and community affairs. This type of arrangement is a two-for-one win for both the business and the event hosts. Businesses often advertise their business name or logo directly to participants.
Businesses can sponsor events like community and youth sports, middle, and high school sporting events. There are many communities, organizations, and schools in need of monetary support to further goals for their teams. Sponsorships help pay for operations like the building and maintenance of fields and stadiums, gyms, purchasing of uniforms, payment of fees and licensing, and payment for traveling expenses. Sponsors typically receive the privilege to advertise their business name or logo during the events. Some sponsors even receive free promotional announcements.
There are many opportunities for businesses to sponsor charitable and cause related events like walk-a-thons, marathons, and other fundraising activities. These are additional ways to get the business name and logo out to participants. The costs and expenses associated to hosting these types of events and fundraisers are significantly high and competitive; therefore, sponsored contributions are often welcomed and help reduce costs. In return, sponsors often receive free opportunities to get their business names and logos on promotional items, advertisements, commercials, t-shirts, and other marketing initiatives for the event.
Vendor booths are other ways businesses can participate at events, fundraisers, or community affairs. The businesses can host and sell promotional items in support of the event or activity. For example, if the event is a fundraiser to raise money for economically disadvantaged children, the business can youth related items like baseball caps for boys and men, tote bags for girls and women, or theme based t-shirts and posters for everyone. Business can donate contributions raised from the sales to the cause or event.
Sponsoring free giveaways, raffles, or prize drawings during events, fundraisers, and community affairs is another way to gain free exposure. This sponsorship provides opportunities for the business to be in the lime light of participants. Event participants, typically, enjoy free and fun activities, especially when there are opportunities to win free prizes.
What other sponsorship ideas have you seen or experienced?