How can you guarantee a return in investment on sponsorship?
by Natasha Christou Digital Marketing ConsultantThat said, one way of getting your brand
out there, without ramming it down the throat of the general public in a rather
tactless way, is to sponsor an event.
Why?
Regardless of the business or the sector,
chances are the main goal will be to attract new customers and generate further
revenue — this is the lifeblood of most companies across the globe.
Unfortunately, it is becoming continually
harder for businesses to be recognised thanks to overbearing market saturation.
With traditional forms of advertising, the product is placed in front of the
recipient in a direct or subliminal style message. It is then up to the
recipient to decide whether that fits the bill.
With event sponsorship however, unlike
simply offering up a catchy gambit or jingle, brands are able to create an
experience for the recipient.
The Experiential Marketing Content Report
produced by Event Marketing Institute reported that 72 per cent of consumers
hold brands who “provide a quality event experience” in a positive light.
Likewise, the same survey noted that 74 per cent of respondents suggested
engaging with said brand who have created such an experience is more likely to
make them offer their custom.
Moreover, not only can you directly target
your market and better your existing relationship, you can branch out into new,
completely untouched territory. For many brands this is an opportunity to make
themselves visibility in the wider community, perhaps creating an image of
social responsibility.
So, now we’ve delved into why businesses do
it, let’s take a look at two companies who do, examining the benefits it has.
Honda
It has become part and parcel of event
sponsorship over the years to see big automotive brands backing sports events,
perhaps due to a closely linked group of fans.
The issue with doing this, however, is that
it limits the sponsorship opportunity options and, similarly, negatively
impacts the potential audience the sponsorship is being placed in front of.
One such automotive company who have moved
beyond the boundaries of what is expected, however, is Honda. The Japanese
automotive brand stepped into the world of e-sports, tapping into an otherwise
untouched market, when they became the exclusive automotive partner of the
League of Legends Championship Series.
Having partnered up with Team Liquid, one
of the teams within the league in 2018, Honda announced its decision to join
forces with Riot Games in 2019, backing events in Los Angeles and then the
final in Detroit.
Honda went on to mention that it would
use the partnerships with Riot Games and Team Liquid “to engage with millennial
and Gen Z fans of League of Legends”.
When Team Liquid announced their
partnership, Honda provided them with team jerseys, a fleet of branded Honda Civics, and a
full range of merchandise.
This follows on from many years of Honda
successfully plugging the music scene across the world thanks to their popular
Honda Stage.
Robinsons
Nearly 200 years ago Mr Matthias Robinson
invented his infamous patent barley in powder form — a far away from what it
exists as now. In 1935, however, the world of Robinsons was to change forever.
Regarded by many as the oldest and most
prestigious tennis tournament in the world, founded in 1877, Wimbledon lawn
championships exists as the pinnacle of British sport.
While Fred Perry was delivering skill and
style on the court, Robinsons were beginning to deliver what would be a
long-standing relationship off it.
The fruit juice company created the
innovative Lemon Barley Water, to quench the thirst of all the players and to
start a sponsorship deal that would last indefinitely. Now, in 2020, 85 years
on, Robinsons is still the official drink of the championships.
Considering 9.6 million people tuned into
the men’s final on BBC1 in 2019, it couldn’t be considered an ill-partnership
for the brand owned by the Britvic company.
Wimbledon has, for its entirety, been
recognised as a family friendly, all-encompassing event, something that any
brand would be proud to be involved in, and one that would undoubtedly boost
their reputation.
Here we’ve drew upon examples of a long
lasting and rather infant event sponsorship campaign however, there are
limitless partnerships across the globe doing exactly the same thing. Whatever
way you look at it, this is a mutually beneficial relationship!
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Created on Feb 19th 2020 09:05. Viewed 525 times.