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Event Sponsorship 101: Thriving in a Competitive Market

Some marketing analysts are claiming that event sponsorship is broken or, worse still, dead, whilst others say that it’s merely evolved. In a world where social media is king and quantifiable marketing channels are favoured over the ambiguous effects of banners and logos, how can companies still sponsor events and make it worth their while?

Event Sponsorship 101

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Why Event Sponsorship is Broken

Traditional event sponsorship is a tough deal. It normally involves a lot of jostling to be seen and sharing a platform with a host of other companies all vying for the public’s attention. When more immediate and far cheaper methods of online marketing are available, why should companies pay in the thousands to have their name up at an event anymore?

Ways to Make Event Sponsorship Work

The good news is there are still ways to make the most from event sponsorship. One key method is to host your own event. The barriers to putting on events are far easier to overcome these days, making it easier for companies to put on their own completely self-promotional events.

Whether you need venue hire in Taunton from a company like http://www.countygroundtaunton.co.uk/ or want to hire the Tate Modern for exclusive use, most venues these days are set up to deal with such events. The golden rule for hosting your own event, however, is to make sure you are giving those who attend something they actually want. Prime case studies include Innocent Smoothies, who for some years put on the Innocent Village Fete in central London. The emphasis was on good old fashioned fun, but as the smoothie company had no competition for exposure, they were free to market at will whilst ensuring attendees had a great time.

Another solid idea is to stick to sponsoring community events. In fact, this is an area where companies should truly be bidding for space. It shows a passion for community and for causes and gives your company a chance to get involved in truly grass roots events.

In a fast changing world, companies need to be forward-thinking when it comes to event sponsorship and adapting to changes. Thinking about hosting your own event will eliminate competition, whilst going down the less corporate, more community minded road is more likely to result in a positive brand image.

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