Chances are, as a small business owner, you’ve been approached by people, charities, institutions or groups about sponsoring something. Maybe it’s a youth sports team, a concert in the park, or an online event.
The groups assume that small businesses have the built-in audience and financial resources to help underwrite the event.
Even though they want you, do you want them?
You should consider saying yes for six very good reasons, including good karma in your community and increasing your visibility. More importantly, sponsorships can generate leads, partnerships and sales.
1. Sponsorship creates goodwill
Good will is important – vital, even – but somewhat amorphous. To see also : The owner of a local business is asking for help after his computer is stolen. Basically, it is the reputation your business has in the community in general and among customers in particular.
People love and appreciate a business that can sponsor an event. Sponsorship will co-brand your business with the event and, in most cases, improve your business’s reputation.
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2. Sponsorship can lead directly to sales
Consumers are more likely to purchase a product after being exposed to a business through a branded marketing event. On the same subject : UM Stephens College of Business Computer Informatics program changes name to Data Analytics.
Here’s some anecdotal evidence: I went to an event. One of the sponsors had a great food truck there. We still eat at the sponsor’s restaurant 20 years later.
Continuing with the restaurant example, let’s say you own a restaurant and have the opportunity to sponsor a youth or adult sports team. When players are hungry and looking for a place to eat after a practice or competition, they are more likely to come to you if you have a relationship with them.
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3. Increased visibility is always good
. Especially in these days of theater with short attention spans, EXPOSURE is more important – albeit more difficult than ever. On the same subject : Pioneering NASA aerospace industry official: ‘Bro culture’ is bad for business. Sponsoring an event helps you get noticed.
Most people have never heard of your business. But they will if you sponsor an event, and even better: if their first exposure to your business is because you’re a sponsor, that first impression will be a lasting, positive one.
4. It can help you hit your target market
When thinking about sponsoring something, think about whether the team or event fits your demographic.
If so, your sponsorship puts your business directly in the line of sight of your target market. How awesome is that?
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5. It can generate great leads
Ideally, sponsorship should consist of more than putting your name on a program or website. A good sponsorship package should include some sort of lead generation mechanism. This could be an email sign-up form or a special networking event.
In any case, sponsorship can and should lead to warm leads.
6. Partnership opportunities
By being out in your community – whether online or offline – you expose your business to more potential customers – and put yourself in front of other businesses and professionals. Who knows what opportunities may arise from that? Probably some very good ones.
The bottom line is that event sponsorship doesn’t cost money, it pays off.
For even more marketing tips, check out my new site, PlanetSmall Business!
