Corporate sponsorship is a form of advertising or promotion in which organisation's pay to be associated with a particular event, often in exchange for publicity. This could range from sponsoring a charity event or cause, sporting or music event, festival, museum or group. Effective corporate sponsorship can raise awareness of your company, improve community relations and reach your target audience.
Corporate sponsorship can provide you with the opportunity to position your product or service in the marketplace. Consumers will often associate a sponsor with an event, you to need to ensure you choose an event that will fit well with your product or image. Sponsored events also provide the opportunity to meet with customers, while also allowing consumers to try out a product first hand. This can be done in the form of freebies, promotional items or goods given out at the event.
Corporate sponsorship can also be beneficial in regards to good community relations. A sponsored, pro-active and ongoing community relations program can help your business achieve visibility both in the community and in the marketplace. Sponsoring a public interest program or community project can be an excellent way of enhancing your corporate image.
Many charities and non-profit organizations would be unable to host events without corporate sponsorship and it is an excellent way to build goodwill. Logos and brand names will often be displayed alongside the name of the organization that is responsible for the program or event, and the corporation will be mentioned as having provided the funding.
Corporate sponsorship can be a fantastic marketing tool and an excellent way for an organization to interact with consumers, enhance your companies image and build links within the community.