Why Sponsor? Sponsorship Benefits & Event Sponsorship Benefits
Sponsorship provides a great means of broadening your competitive edge by improving your company’s image, prestige and credibility by supporting events that your target market finds attractive. In recent years, sponsorship has become the fastest growing type of marketing India.
Part of this growth can be attributed to the increasing numbers of small and medium-sized businesses involved. Previously, only large businesses could afford to sponsor cause marketing, for instance, as a way of boosting profits as well as establishing goodwill. However, now smaller companies are sponsoring at City Level as an effective method of boosting their visibility in their community. Most of these sponsorships help these companies to enhance their public profile relatively cheaply.
Event Sponsorship Benefits
Sponsorship of events in particular “ Challenger Trophy” can be especially effective as a marketing tool because it can be a means of accessing a wide range of audiences such as decision makers in business, government entities, and of course customers. A growing number of marketers think that corporate sponsorship is better than other methods as it provides opportunities to gauge customer response to products immediately. Events allow business owners or executives relate directly with their customers, while they give customers the opportunity to try out the products of a company firsthand. Heightened visibility due to positive publicity through the media is another reason sponsorship of events – especially those that attract large numbers of people like popular sports events – can be the most effective marketing tool. Every sponsor seeks the widest exposure possible in both print and electronic media. This publicity increases the visibility of the company’s products and services. The various kinds of media that cover the event usually include the names, and even pictures, of the sponsors. This kind of mass coverage by the media that the sponsor gets is usually unaffordable, if the company were to purchase it.
In addition, the organizers should also provide you with details like the target audience that are expected, media coverage plans, and what obligations you have as a sponsor. It is also important to find out the kind of support the organizers will provide, and exactly what your sponsorship money is buying.