Sponsorship is a tried-and-tested way for small businesses to raise their profile and attract new business. Sports sponsorship and charity sponsorship are common marketing strategies. Sponsorship is a subtle form of promotion that can provide the feel-good factor as your firm is seen to support a good cause or a community event.
Corporate sponsorship can position you as an expert in your field. If you exhibit at a trade show regularly, for instance, you could sponsor a seminar or an industry award in order to show your strength in that sector.
There are many sponsorship opportunities for small firms. Sponsorship does not have to cost the earth. Many small firms provide free goods and services in exchange for the exposure that being a sponsor brings. The chances are that there is something useful you could bring to the negotiating table when you are working out a sponsorship deal.
You must establish your objectives before you look for something to sponsor. Sponsorship can be used to spread the word about a new company as well as to consolidate the position of an established business. It can raise your profile in the long term or boost sales in the short term. It can build loyalty among your existing customers and introduce your name to a whole new raft of customers.
Above all, sponsorship can highlight what is good about your company and show it in a new light. Create the right partnership, and your business will see the benefits.
When you sponsor something, you are establishing an association with another organisation or event. That connection must make sense to your customers and enhance your reputation. Do your homework and make sure that what you sponsor is not going to bring you into disrepute.
Sponsoring a good cause can improve your standing in the community, whether you support a charity, a local sports team or community event. Sponsoring an industry event is a great way to get top billing at a trade show, helping you stand out from the crowd in a competitive market.
Above all, in choosing what to sponsor you must assess the type of audience you could reach and the numbers involved.
Once you've got a sponsorship deal, there are many ways to maximise the exposure it can give your business.
Develop a marketing plan with those you are sponsoring and make sure they have your logo and company information to include in their publicity material. At the same time, allow some budget of your own to publicise your involvement. Ensure you have the opportunity to check absolutely everything that is going to be printed with your name on it.
Spread the word about the sponsorship by sending out a press release. The emphasis should be on the sponsored organisation, but make sure your involvement is clearly spelled out. Promote the sponsorship as widely as you can in your literature, at your premises and by using every promotional trick of the trade, from t-shirts to pens.
If you are sponsoring an event, make sure you invite your customers and potential customers. Always follow up afterwards by contacting them while there is plenty of good will in the air. Finally, make sure your staff are fully involved. Their support and good will is vital.