BizTips from SCORE – Benefits of being an Event Sponsor

Nonprofits, associations, groups, event organizers all ask small businesses to support their initiatives in the way of sponsorships.  Ask yourself how this type of investment will help promote your brand, position you in the market or generate new opportunities for sales.  Ask if the sponsorship will do any of the following.  If YES, then do it.

Brand Visibility and Awareness: Sponsorship provides high visibility in front of a targeted audience, helping to increase brand recognition and awareness. The brand logo may appear on event materials, websites, and signage, offering multiple touchpoints with attendees.

Lead Generation: Conventions attract a concentrated group of industry professionals, potential clients, and decision-makers. Sponsoring a convention allows businesses to engage directly with these individuals, generating quality leads and expanding their customer base.

Networking Opportunities: Sponsorship often includes access to exclusive events, VIP areas, or networking sessions, providing valuable opportunities to connect with key industry players, partners, and influencers.

Thought Leadership: Sponsors often have opportunities to participate in panels, workshops, or speaking engagements. This allows the business to position itself as a thought leader in the industry, showcasing expertise and influencing industry discussions.

Product or Service Promotion: Conventions provide an ideal platform for businesses to showcase their products or services. This can include product demonstrations, booth exhibitions, or promotional giveaways, directly engaging the target audience.

Competitive Advantage: Sponsorship can provide a competitive edge by associating the business with a major industry event. This can help differentiate the company from competitors, reinforcing its industry presence and credibility.

Customer Engagement and Loyalty: Engaging with existing customers at conventions can strengthen relationships, increase customer loyalty, and provide insights into customer needs and preferences.

Market Research: Conventions offer businesses the chance to gather valuable market intelligence by observing industry trends, competitor activities, and customer feedback.

Corporate Social Responsibility (CSR): Some businesses sponsor conventions as part of their CSR strategy, supporting causes, industries, or communities that align with their values.

Overall, businesses seek a combination of brand exposure, direct engagement with potential clients, and strategic positioning within their industry when investing in convention sponsorships. 

Contributed by Marc L. Goldberg, SCORE Cape Cod & the Islands, www.score/capecod, 508/775-4884.  Free and confidential mentoring and educational webinars.