The value of sponsorship

The purpose of marketing is to generate awareness and commercial return for your business. A key tool in your marketing toolbox to help you achieve this outcome is sponsorship.

Sponsorship, done strategically, builds awareness and generates sales. It also generates enormous good will, as it allows you to communicate a strong message to your market of how your business is socially responsible, and how it contributes to the development of the wider community.

While the big end of the business sector actively invest 20% of their marketing budgets in sponsorship each year, it is often overlooked as an effective marketing strategy for small to medium sized businesses.

The key to successfully utilizing sponsorship in your marketing mix is to strategically plan your sponsorship investments. You can do this through ensuring the types of sponsorship arrangements you tie your business in with are relevant to the objectives set out in your business plan, and relevant to your target market.

Opportunities for sponsorship are endless and cross a diverse range of sectors within our community. Some examples include sporting teams and events, cultural and community events, schools, and churches.

As with all your marketing strategies, it is important to track your investment and the outcomes you achieve so you can evaluate the ongoing effectiveness of your sponsorship relationships. 

“This article was written by Tracy-Madonna Wylie, Business Manager, Nutbirdz Strategic Marketing, and printed in the My Marketing Companion column of the Fraser Coast Chronicle in 2007.”