Sponsorship HQ promotes the use of sponsorship as an effective marketing tool.
What is sponsorship?
Sponsorship is a cash and/or value-in-kind (VIK) fee paid to a sport, arts, entertainment or community/cause property in return for exploitable commercial rights associated with that property.
Why is sponsorship such an important part of an effective marketing communications strategy?
Of all the promotional tools, sponsorship in particular helps to build image and brand equity at a time when traditional media platforms are cluttered with advertising. In a climate where it is difficult for brands to stand out, sponsorship provides real cut-through and an ability to connect and communicate on a personal and emotional level.
Sponsorship therefore provides the solution to a key marketing objective - a genuine connection between brand and consumer. As brands continually look for ways to reach their target markets in the environments in which they are most receptive, sponsorship provides the answers.
Recent research indicates that 'the community not only accepts sports sponsorship, but positively endorses it' (Sweeney Research, 2002). Agreement is strongest with the statement "sponsorship is a good idea" (96 per cent agree). This demonstrates the real power of effective and successful sponsorship marketing.
To maximise the impact of sponsorships, sponsors should ensure they:
- Find the right brand fit
- Focus on adding value for the target audience
- Integrate the sponsorship into the brand's overall communications strategy
- Effectively leverage and measure the sponsorship