Sponsorship is the financial or in-kind support of an activity. It is used to reach specified business goals and is considered a qualitative rather than quantitative medium, aligning a company with a person, activity or event. In the channel there are plenty of opportunities to sponsor awards and events and there are companies working with well-known sports people.
Enhancing brand image and customer relations
Many companies associate themselves with popular, well-established events, that appeal to their target audience. The objective is to shape buying habits and influence decision making, by creating a positive emotional connection with their target audience.
Building brand awareness
By sponsoring an event you have the chance to get your brand name in-front of your audience at an opportune time. You can often promote your attendance in advance and address your audience directly on the night. The objective is to influence decision makers, so that when they have a need for your services, they remember your brand name and can locate your contact details.
Increasing reach
A good sponsorship opportunity will enable you to reach targets you can’t easily contact through other channels. It can promote positive word of mouth, with potential for positive conversations long after the event. It can generate supporting press and brand coverage, before and after the event.
Competitor differentiator
By sponsoring a relevant event, it is possible to align your own strategy with that of your audience and differentiate yourself from the competition.
Enhancing relationships
With some sponsorships you receive additional perks, such attendance at exclusive pre-event activities, which you can invite partners to. This helps to cement existing relationships and encourage future business.
Downside
Often sponsorships are expensive when you factor in total costs including expenses. When measuring ROI, it can be difficult to build proposals for sponsorship activities, when results cannot easily be measured.
Jola is sponsoring the MSP of the Year category at the Comms Business Awards this year. We partner with MSPs, providing 4G solutions to corporate end users globally. Mobile Manager allows MSPs to set up private APNs, data pools and manage SIM assets internationally. To find out more, request our partner pack.
