Why Events and Sponsorships for Marketing?

There is a need to measure and improve to keep costs down, to compare strategies and to understand the true value of your events and sponsorships. Many often ask the question of, “Why?” Well, there are generally one of three reasons your organization decides to participate in or sponsors an event. Here they are!

Launch New Products.

Events provide an opportunity to test drive a product or otherwise bring people in direct contact with the brand.

Drive Affinity Between Customers and the Brand.

Sponsorship can demonstrate your brand’s support for something the customer or prospect is passionate about. Sponsorships can build strong ties that result in passionate loyalty.

Reach New Markets and Customers.

To a certain extent there are events and shows in which not showing up says so much about your brand that a company has little choice other than to participate. Your presence at some events can establish your brand in a marketplace.

Overall it is important to make sure that you are attending an event or having a sponsorship for one of these three reasons. If your brand isn’t obtaining one of the three goals then sponsorships and events may not be in the cards for your business now. It is important however to re-evaluate from time to time to make sure you aren’t missing any windows of opportunities. What are your thoughts? I would enjoy hearing about different events or sponsorships you have held or how you can see these potentially helping your brand in the future. Feel free to comment and share below!