Businesses are always looking for new ways to succeed. Since the mid-2000s, the most popular tactic has been a mixture of SEO and social media. In fact, both of these platforms are still effective to this day. Unfortunately, they aren’t as potent as they were in the past. Companies now understand the importance of modern marketing, and it’s diluting the impact. The only choice you have is to adapt and evolve. With that in mind, it’s time to find a new technique that hasn’t been done to death. The good news is that one exists: sponsoring an event.
Here are the reasons why your next marketing strategy should be to pay other firms to bear your name.
The Exposure Is Real
It’s easy for bosses to look at media exposure and think, ‘does it work?’ After all, it doesn’t seem like any hard facts exist to support the claim that it’s real. But, the experts say the stats don’t exist until you take the plunge. AMW Group is a PR firm that specialises in organising corporate events, and they believe revenue and sales increase as a result of the media. There is no way to tell the catalyst, but it isn’t a coincidence as customers directly link your brand to the event. So, if it’s a charitable thing that saves lives, it will reflect positively on your brand. There is a reason the industry broke the fifty million mark for sponsorship spending in 2013. Since then, spending has only been getting higher and higher.
Brand Recognition
Regular readers of the site understand the importance of brand recognition. Without a brand, you’re nothing. Sure, you might not go out of business, and you might even shift a few units. But, it’ll never be enough to grow and expand into a market leader. The biggest and baddest firms have an impeachable reputation, and they get it from their marketing campaign. As you know, people link the event and the business together. So, as long as the event is a success, you are also a success in the eyes of the guests. And, why wouldn’t you be successful? A legitimate cause asked you to be a sponsor, and that means something. Of course, there is no real link because you both have mutual resources – that’s all. Still, it doesn’t mean you can’t take advantage of the way consumers think.
The Perceived Image
In layman’s terms, the advantages above link with the way people perceive the company. What they think might not be true, but it doesn’t have to be true. Nine times out of ten, customers go with their gut, or they make a rash judgement and stick with it for the rest of their lives. As long as they think you’re a top-class firm with good intentions, they will remember you. And, if they remember you in a good light, they will use the company at every opportunity. Events are the best way to give off a certain image as you get to choose which one you sponsor. If the occasion fits with the company brand, the results can only be constructive. Sometimes, what people think is more important than the truth for businesses.
Cultivate Leads
Events are a fantastic opportunity for businesses to generate more leads thanks to the structure. You will find it difficult to locate an event that doesn’t play games or giveaway prizes. Pardon the pun, but it’s part and parcel of a corporate event because people want entertainment. Plus, a freebie never hurts. The savvy businessperson can see that this is an opportunity. If you’re sponsoring the occasion, it isn’t wrong for you to ask for a favour. For example, you might make a stipulation which states that everyone who wants to enter the prize draw has to write down their email address. It’s a small thing, yet it makes all the difference. The result is a plethora of free contact details which you can add to your email blast. Many people will ignore it because they aren’t interested. However, a percentage will make a conversion, and that is huge.
Network
When you talk to customers, it’s called generating a lead. When you talk to potential clients, it’s called networking. Making contacts within the industry is crucial to your success because you’ll never be able to ask for a favour with zero friends. The favour might be something as simple as a contact number, yet it can make all of the difference. The key, then, is to make friends, and to make friends, you have to brown nose. No one likes people that suck up to them unnecessarily, so don’t go overboard. You should talk about your shared interests and bond with them on another level. That way, the relationship is more than just business. A word of warning: you can only network with another firm if they are present. If you’re the sole sponsor, it won’t work.
Target The Right Market
There is no point in contacting a bunch of people if they don’t fit the criteria. What criteria? The ones which make them a perfect fit for the firm. It might be their age, or it might be their shopping habits, but, either way, it makes them more likely to choose you. So, once you have the leads, you can’t just fire away like a gunslinger at the O.K. Corral. No, you need to sort through the list and pick out the people that are most likely to respond. It sounds harder than it is because they are strangers and you don’t have much info. But, it gets easier with the help of the event organisers. They know things about the guests, and they should be willing to divulge the information. Or, you can do your research before you agree to any sponsorship. That way, you know all the leads are legit.
The jury is back, and they have come to a decision. That decision is to tell you to sponsor an event at the next opportunity. It could transform the business completely.
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