What is sponsorship or, more precisely, what is corporate sponsorship marketing? In short, corporate sponsorship is a form of marketing in which a corporation pays the right to be associated with a project.
Corporate as in a large company, sponsorship as in financial support received from a sponsor and marketing as in promoting specific products and services and receiving promotional benefits.
Simply said, sponsorship is the act of supporting an organization financially. Or, it can be a financial support received from a sponsor. Unlike advertising, sponsorship is a lot about improving a corporate recognition and reputation. Simply said, sponsorship is an exchange of money for services.
One way of doing profitable corporate sponsorship marketing is to start with the right sponsors and then to prepare a sponsorship marketing plan.
Sponsors as in corporate organizations and sponsorship as in the key to powerful marketing. On the one side, corporate organizations wish to increase their competitive advantage and, on the other, social media need to communicate and increase competitive advantages.
Sponsorship is a lot about affluent sponsors and about their respective goals and made to measure online visibility.
Corporate sponsors expect a detailed analysis of the exposure they receive. Measurements such as customer feedback, new leads, onsite purchases, social media interaction and website visits.
The benefits of sponsoring are many and include brand visibility, competitive advantage, positive reputation, return on investment and valuable insights. A cost-effective corporate exposure and a chance to connect with potential customers and generate sales leads.
Sponsorship helps create a connection between an organization, a brand and a target audience. By doing so, it automatically gains an advantage over its direct competitors.
Sponsorship requires a financial commitment but provides exposure and a return on investment. Sponsorship attracts media attention, sets and organization apart and triggers brand loyalty.
Sponsorship is negotiable and it can and it does offer opportunities for future collaboration. Sponsorship comes with valuable insights such as industry trends and interesting selling propositions and strategies.
Sponsorship is also a great source of new material and new content. Promoting of products and services drives traffic to a website and increases exposure. New social media connections are made and new target audiences are found.
Sponsorship is connected to a positive and reliable reputation. Consumers tend to have a higher likelihood of purchasing products and services associated with high-profile organizations. Sponsorship that attracts a specific audience and that creates high-quality leads.