Sponsoring is an affordable and easy way for your small business to get more exposure. Not only is it a great advertising opportunity, but your business is also making a positive impact on its community. The best thing about sponsorship marketing is that it does not have to be a big-budget project to make a significant impact. Whether you have the big bucks to spend or just your time, sponsoring can propel your business ahead of the competition.
What does "sponsor" mean exactly? It means, “a person or an organization that pays for or plans and carries out a project or activity.” Many small businesses don’t consider sponsorship marketing an option, which is why it’s widely overlooked. There are many avenues smaller businesses can take, including organizing community events, supporting local non-profits, and donating company time and effort to help in the community. For example, think about hosting a local 5k to raise money for a good cause, donate money to local sports teams, or volunteer at a community arts festival.
Small Business Success
Trying new marketing techniques can be intimidating, but this advertising opportunity is worth it. Raising brand awareness and gaining positive publicity are the main goals of this type of promotion. Check out this success story for inspiration:
While quite popular now, Red Bull didn’t always have this much success. Energy drinks were not very popular with consumers when they were first introduced. However, when Red Bull decided to give away their energy drinks at VIP and sporting events, they began to see more and more consumers interested in their products. Now, Red Bull is one of the most popular energy drinks around the world.
Start incorporating sponsorships into your marketing strategy. Not only will you see a rise in brand awareness, but you’ll be giving back to the people in your community.