As a small business owner, you may have been asked to sponsor something by a person, charity, institution, or group. Youth sports teams, concerts in parks, online events, and more.
The group assumes small businesses have a built-in audience and financial means to help underwrite events.
They want you, but do you want them?
You should consider saying yes for six very good reasons, including good karma and increased visibility in your community. , can generate sales.
1. Sponsorship creates goodwill
Goodwill is important, even essential, but a bit amorphous. Essentially, it’s the reputation your business has with the community at large and especially with your customers.
People like and appreciate businesses that can sponsor an event. Sponsorships co-brand your business at the event and, in most cases, improve your business’ reputation.
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2. Sponsorship is directly linked to sales
Consumers are more likely to purchase a product after being exposed to a business through a brand’s marketing event.
Here’s some anecdotal evidence: I went to an event. One of the sponsors had a great food truck. After 20 years, I still eat at sponsored restaurants.
Continuing the restaurant example, suppose you own a restaurant and have the opportunity to sponsor a youth or adult sports team. When players are hungry after practice or a game and looking for a place to eat, they are more likely to come to you if you have a relationship with them.
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3. Better visibility is always a good thing
Especially in these days of short attention spans, standing out is more important than ever, if ever. Sponsoring an event can help you get noticed.
Most people have never heard of your business. But if you sponsor an event, they will. Even better, if their first contact with your business is because you’re a sponsor, that first impression will be a lasting and positive one.
4. Helps you reach your target market
When thinking about sponsoring something, consider whether that team or event caters to the intended demographic.
If so, your sponsorship puts your business directly in sight of your target market.
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5. You can generate great leads
Ideally, sponsorship is more than just getting your name on a program or website. A good sponsorship package should include some form of lead generation mechanism. This could be an email opt-in form or a special networking event.
Either way, sponsorship can and should lead to qualified leads.
6. Partnership Opportunities
Joining a community, whether online or offline, exposes your business to more potential customers and puts you in front of other businesses and professionals. Who knows what will be born? Probably some very good ones.
The bottom line is that event sponsorship costs nothing and is paid.
For even more marketing tips, check out my new site, PlanetSmall Business.
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