The question we all want the answer too – What do sponsors really want from their sponsorship?
We know that event sponsorship is and continues to be, an effective way of increasing the visibility of a brand. Partnering with the right event is the perfect way for brands to place themselves in front of new and existing audiences and increase their long-term value and growth, setting them apart from competitors. But, what do sponsors really want from their sponsorships?
A lot of organisations are utilising the ‘try before you buy’ approach, and scaling up events year by year. This is because they tend to lack the confidence in the events they want to be part of, they want to be sure they are on the right path, and by testing events year by year, they can eventually scale up to desired level of attendance and sponsorship input.
As we all know, the primary reason organisations sponsor events is linked to given brand awareness, brands will often sponsor your event so they can get in front of their target customer. This is especially relevant for businesses that are relatively new to the market. With this approach, they can have access to their target market in a much quicker manner as opposed to other methods, as they can sponsor events that align with their brand and their segment.
Enhancing Brand Image – Corporate Responsibility
Unlike organisations that are new to the market, well established brands are also a big fan of sponsorships, especially if they wish to enhance or reposition their brand. Currently, sustainability has been generating the most importance alongside inclusiveness. Being a part of such events naturally enhances the image of brands in the most positive way, especially if this is done through the engagement of communities, therefore sponsorships are an excellent way to enhance brand image for well known brands that already have a major presence in the market.
Brands are more recently wanting flexibility, and newly formed organisations expect to gain awareness through their sponsorships while well established brands want to enhance their image in terms of ‘corporate responsibility’.
In the current climate, sponsors are expecting more from their sponsorships, meaning you need to cover more needs for the organisation’s brand profile!
Are you looking for your brand to be placed at a variety of BIG events? Then you need Panoptic Events! Contact us today for more information.Or, head over to our LinkedIn page and contact a member of our team directly!