Definition Of Event sponsorship
Event sponsorship is the way in which organizations give support to an event by providing financial assistance, products or services. It is probably the most profitable form of sponsorship. By associating the image of the company with a major event (whether it’s sport, art, culture,…), event sponsorship enables a rise of awareness.
Breaking Down Event sponsorship
As a matter of fact, for a brand, there is nothing more attractive that being able to attend an event as a sponsor. Besides the chance to raise awareness, gain visibility and all so on, you have the chance to directly interact with your prospects and/or current customers. That is, getting them involved with your business by organizing activities or contest, thus generating buzz around you.
Nowadays, more and more companies are shifting their resources to sponsoring local events. More than the minor impact on your balance, these events allows your brand to be in touch with a very targeted and selective market as well as driving direct sales in a specific area.
Interacting through event sponsorship
In addition to awareness, the nature itself of the event enables a company to interact closely with an audience.
From the very begining of the event to the conclusion, discussion between a brand and its audience become close to a 1-to-1 basis. The content of campaigns, offers, and discussions can be tailored precisely to the nature and context of the event, which makes it a very different conversation than the usual advertising campaigns.
For a company sponsoring an event, there’s also a major benefit: key data. Through analytics, broadcasting and conversations, the company has access to key data to understand and segment an audience.