Sponsorship Strategies Related to Business? Here's the Explanation

Maybe you've often wondered when you're at a music event, exhibition, or entertainment show with a big brand logo prominently displayed. Sometimes these logos appear on the main stage, ticket packaging, or festival ads. "Why are these logos there and what's the reason behind them?"

Well, those logos don't just appear for no reason, you know. The logos you see signify that a brand is sponsoring the event you're attending. How come?

In this article, we'll delve deeper into what sponsorship is all about, its types, benefits, and purposes, as well as tips for finding sponsors for your upcoming event. So, read on until the end!

What is sponsorship all about?

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Sponsorship is a form of support, either material or financial, provided by an individual or a company to an event, activity, or community. What's the aim? Well, to make a profit and maintain the brand image, of course. Sponsorship can also be a cool marketing trick to promote products or services while building a bond with consumers.

Sponsorship has become a trendy way for companies to promote their products or services, build connections with consumers, and increase brand visibility.

There are various forms of sponsorship support, ranging from financial support, provision of products or services, and provision of equipment or facilities, to other forms of assistance that help events or activities run smoothly.

Moreover, sponsorship can also help organizations or individuals obtain the necessary resources to organize events or activities successfully.

Therefore, sponsorship can be considered a mutually beneficial agreement for both the recipient and the sponsor.

These are the 7 types of sponsorship

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Now that you know the basics of sponsorship, it turns out sponsorship is divided into 7 types. Curious? Check them out below:

1. Sports Sponsorship

Sports sponsorship involves supporting athletes, teams, or sports events. For example, Nike supports top athletes like Cristiano Ronaldo and Serena Williams, or Coca-Cola sponsoring the Olympics.

2. Event Sponsorship

Event sponsorship involves companies supporting entertainment events. For example, there's a snack company sponsoring a food festival, or a cosmetics company supporting a fashion event.

3. Arts Sponsorship

Arts and cultural sponsorship involves companies supporting arts and culture. For example, sponsoring art exhibitions, music concerts, and theater performances.

4. Educational Sponsorship

This type of sponsorship supports education a lot. For example, providing scholarships, supporting educational events, or assisting skill development programs.

5. Cause-Related Sponsorship

Sponsorship related to social issues is really important! For example, supporting non-profit organizations focusing on health, environment, or human rights.

6. Celebrity Sponsorship

Sponsorship that supports celebrities to become brand ambassadors for a brand.

7. Product Sponsorship

Product sponsorship aims to make products more recognized. For example, technology products supporting technology conferences.

Those are the 7 types, and each type has different benefits and marketing strategies. So, it's really important to choose the one that fits your goals and target audience!

Benefits of sponsorship

With sponsorship, both parties involved can certainly reap benefits. But there are more benefits for you if you want to provide support for a particular event, such as:

1. Increasing Brand Awareness

Sponsorship can make your brand more recognized, visible, and memorable. By supporting cool events or activities, you can promote your brand even wider and create emotional connections with consumers.

2. Elevating Brand Image

Sponsorship can also help improve your brand's image by being part of positive and beneficial activities for society.

3. Strengthening ties with consumers

Sponsorship can help you build stronger relationships with consumers through your brand's involvement in events or activities that consumers like.

The Purpose of Sponsorship

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Quoted from kompas.com, according to Ridho Aldhily in the book 101 Amazing Public Relation Ideas (2020), the purpose of sponsorship is divided into three parts:

1. Giving a boost by including the company name and brand as much as possible in the supported event.
2. Assisting in marketing efforts.
3. Demonstrating the organization or company's commitment to fulfilling its social responsibilities.

Tips for finding sponsorship!

Now that you know the meaning, types, benefits, and objectives, you also need tips for finding sponsorship. Check out the tips below:

1. Create a proposal that's creative yet professional

The first thing you need to do when looking for sponsors is to make sure your proposal is well-prepared. This proposal is crucial because it's the main way to communicate with sponsors. Through this proposal, they will assess whether you are suitable for collaboration with them.

2. Find the Right and Suitable Sponsors

Don't waste the proposal you've worked hard on as the main basis for finding sponsors. The risk is high; the proposal may be rejected by the wrong party. You know how important sponsors are for the enthusiasm of participants in your event. So, make sure your choice is right because if you choose wrong, your event might flop.

3. Optimize Social Media

Finding sponsors is now easier thanks to social media. Not only the casual ones like Instagram, Facebook, TikTok, etc. Now there's also LinkedIn for more professional purposes. So, without having to meet directly, you can build relationships with potential sponsors for your event there.

4. Create an Interesting Body Email

When you're reaching out to sponsors online, don't forget to pay attention to the body of the email. Don't just attach the proposal without providing additional information in the email; it might come off as impolite. After all, the sponsor doesn't know you yet, right? So, the most important thing to write in the body email is to introduce yourself and the organization or institution you represent. Then, tell a bit about your event and why you're interested in having them as a sponsor.

5. Offer Highly Beneficial Benefits

When seeking sponsors, it's crucial to create an offer that will make them interested, such as:

• Displaying the sponsor's logo and name in many places at the event location and also in your digital promotions.
• Letting the sponsor obtain the participant database of who come to the event, and so on.

Before offering benefits, it's better tomresearch first about the companies you want to send proposals to. Find out their goals, what they do daily, and their experience in sponsoring other events.

So, those are the important points about sponsorship. By understanding what sponsorship is, its benefits, and its objectives, you're all set to explore the world of sponsorship. In essence, don't forget to stay enthusiastic and creative in collaborating with various parties.