From sporting events to the music stage, the right sponsorship choice can really put your brand on the map. The ways we think about sponsorship are changing, as brands explore unexpected properties and reimagine the reasons for sponsoring and how to go about it.
A strong association from a natural relationship can take time to establish, which is why the choices you make around sponsorship are so important. Here are what other companies are trying out and keeping in mind.
1. Sponsorships may surprise you…
…so keep your eyes open for the right opportunities. Unlikely partnerships are not always effective but done correctly they can help consumers see your brand in a different light.
Know your objectives and seek out a sponsorship situation that will help you reach them. Where can you let your brand shine and reach your intended audience?
Perhaps you find a property that isn’t in the spotlight yet or isn’t an obvious fit. Don’t let this deter you if you see a creative way to get involved.
2. It doesn’t have to be expensive.
Instead of trying to outbid other companies or brands for a chance with the big league players, take a chance and go your own way.
Local brands can sponsor local properties and still leave a strong impression and achieve their goals.
3. Just be sure the fit is authentic.
If you can’t make people see the connection, you’re not pursuing the right sponsorship. It’s great to get creative (and important, if you want to succeed), but you still have to remember to be realistic.
If you notice the sponsorship not working out with the results you’d hoped for, it may be time to pull the plug and try something different.
4. Cause sponsorships are invaluable.
People want to feel they are buying ethically because their purchases also reflect on them. They want to feel good when buying something, which is why cause marketing is so effective.
They also expect businesses to be involved in the community, doing visible good.
5. Shared purpose is the secret to success.
Similar to authenticity, the link of a brand to a cause must lie in their shared purpose. Especially in cause sponsorship, but really in any kind of sponsorship, avoid those links that are purely superficial.
A brand and property or cause that look similar won’t be effective if the share no strong purpose with each other.
6. Know your standards of success measurement.
This point goes two ways. It’s important to be able to measure your own success. You have to be able to see what the sponsorship is doing for your business.
This just involves some time at the start, to sit down and understand what you want and what success will look like.
It’s also important for people to be able to measure the impact your sponsorship has on the entity you’re sponsoring.
In cause sponsorships and other types, people will respond positively to seeing how their support of your brand is creating real influence on the entities your brand sponsors. Making this information available to them will help expand the reach of your brand.
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6 Brand Sponsorship Trends
Sponsorship is an important part of marketing and can create positive results for your brand. This post outlines some of the important ideas to keep in mind when sponsoring. With these, you can more surely reach the current market and achieve positive results.