Corporate sponsorship is beneficial to both the sponsor in attaining its marketing objectives and to the event organizer to make his event happen.
TO THE SPONSOR:
Audience awareness:
When people are relaxing they can imbibe information faster. This helps the brand message penetrate effectively into the consumer psyche.
Image:
Sponsorship leads to the brand’s image enhancement by virtue of association with a high profile event.
Segment targeting:
Sponsorship enables the marketers to target their consumers in an efficient & relevant manner. So if Mercedes Benz wants to reach CEOs, they can do so more efficiently by sponsoring a golf tournament than by advertising on TV.
Alternative:
Sometimes companies have no other avenue for reaching the masses due to governmental restrictions on advertising etc. (for example many tobacco & alcohol companies cannot directly advertise)
Emotional Touch:
Sponsoring an event, which is close to the hearts of your target audience, gives an emotional touch to the brand of the sponsor.
TO THE EVENT ORGANIZER:
Financial Support:
Corporate sponsorship gives a financial support to the event organizer, which makes the event possible. Without the aegis of sponsors most events including the mega events like FIFA’s FOOTBALL WORLD CUP would not take place.
Gives Credibility:
If an event is sponsored by a major and a well reputed Corporate house then it renders credibility to the Event.
Helps in Marketing the Event:
Event sponsors will go about promoting their association with the event. This will indirectly be of help in the marketing of an event.
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