07/ 14/ 2008
by Maggie Flynn
In business, people talk about doing well by doing good. From employing environmentally sound business practices to giving a portion of proceeds to charities, there are countless ways for your business to give back. A prime example of an opportunity to boost your business by helping out your community can be found in event sponsorship. Read on to find out how to choose the right events and get the most out of your sponsorship.
Look for demographic matches
As a small business owner, you probably don't have to look too hard for sponsorship opportunities. If you've been around for awhile, you're probably fielding your share of requests from charities and community groups asking for your help with upcoming events. Since it's highly unlikely that you can give to everyone who asks, it's a good idea to consider which events could potentially benefit your business the most. One way to do this is through demographic matching.
Does your business primarily serve men, women, the youth market or the over 50 crowd? Choose events based on your target market's presence. If, for example, you sell condominiums to retirees, then it's not going to do your business a lot of good to sponsor a Little League team. If, on the other hand, you run a sandwich shop, having your name visible to hungry children and parents throughout the season could be an ideal marketing opportunity.
Choose the right season
Many community events are associated with a specific season. If your budget is such that you'll only be able to contribute sponsorship to one or two events a year, choose the season that is most beneficial. For example, if your community attracts tourists in the summer who may be unfamiliar with your business, getting your name attached to a Fourth of July event could be just the thing to send some new customers your way. If your business is primarily a seasonal one, then it probably doesn't make a lot of sense to sponsor an event during your off season. If the event promotes a cause you believe in and want to help out, then ask the association about later events that would better coincide with the times that you're drumming up business.
Sponsor events with built-in loyalty
If you have an opportunity to sponsor something that attracts a devoted following—sports teams are a good example of this—then you have the chance to build a positive association with your name, even for patrons who have never stepped foot into your business. Also look out for annual or monthly events that the people attend more than once, such an ongoing summer music series. While it doesn't hurt to get your name out in front of people once, establishing yourself more firmly in people's minds—which will happen if they see a banner with your name on it every time they take a seat in front of the band stand—will help you build customer relationships.
Be a presence at the event
Before you agree to sponsor an event, ask what kind of name placement is available. Banners, ads in the event program and your business' name on T-shirts or other promotional materials are standard and will likely be offered without your asking. You may also look into setting up a booth at the event, where you can offer additional information about your services and perhaps sell a sample of your products. While simply having your name involved in an event shows that you care about your community, your business will benefit more if you put in some face time at the event.
Even if you are regularly approached by organizations about event sponsorship, keep your eyes open for opportunities that might help put you in front of your desired customer base. Attend local street fairs and other community events and see what sort of sponsors they attract. Look in your paper for upcoming events and talk to organizers about getting involved. Like other marketing efforts, the more targeted and proactive you are about getting your name out, the more beneficial your event sponsorship will be.
