Effectiveness of Sponsorship Events

Sponsorship is an effective medium to get customer attention. But in order for a company to fully utilize the potential of sponsoring an event rely on who is the participant/audience of that event. There has to be a match between company’s product and the event’s agenda or target audience. I remember from India, the company I worked for would sponsor various corporate meet and greets to attract HNI investments for the Bank. Had it been the case of sponsoring a social cause like education drive the company may have gotten some publicity but that is it. Whereas by sponsoring the events that its target customers attend the Bank saw substantial growth in the business. In my opinion, event sponsorship is one of the most targeted marketing options out there. However, there is a downside to this approach as well; there may not be short term return for these activities.

Companies all over the world heavily utilize this marketing tool in B2B community but some of the large cash-rich consumer goods conglomerates use this tool to build top of the mind recall and a positive association. Also, there are certain social causes that companies support from time to time for CSR activities.

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