How Sponsoring a Local Event Can Grow Your Business
There are more ways than ever to market to your audience. Businesses are overlooking some of the strategies available to them. According to an infographic from Zipsprout, sponsoring an event is one of the channels most businesses have yet to try.
The is titled, “Going Hyper-Local: How Sponsoring an Event (Like Goat Yoga or a Garlic Festival) Can Grow Your Business.”. It makes the case for why more businesses should look into events as a marketing tool to reach local audiences.
If you're a owner, sponsoring an event is a great way to introduce yourself to your neighbors. Not only does it build brand awareness. It shows potential customers you're doing your part to help the community you work or may even live in.
The Impact of Digital Marketing
The introduction of digital technology and marketing soon thereafter has changed the way businesses engage with their audience.
Unlike the cost and expertise needed for launching campaigns on TV, radio or print, all it takes is an internet connection and readily available free tools for digital marketing.
The infographic by Zipsprout says social media is the most used marketing channel by businesses, which accounts for 70%. This is followed by email at 44%, digital ads at 42%, SEO at 39%. Content marketing at 27%. Print ads and direct mail are used by 28% of businesses.
Even though they're used more, digital marketing strategies aren't the most effective, especially for local marketing.
When it comes to local marketing, hosting events was effective for 84% of businesses followed by 77% who used event booths. Television, text messaging, SEO. Sponsorship came in at 77, 76, 76. 69 percent respectively.
The Benefits of Sponsoring an Event
The infographic points out 71% of local businesses are satisfied with the results of community sponsorship. And participation doesn’t mean you've to spend money.
Donating your branded products as well as volunteering your time and free services can have the same impact. If these actions speak the values of your company, it's an important factor for many customers.
This is because Americans support or reject a company based on the positions they advocate, with 87% saying they'll make a purchase based on values and 76% doing the opposite or boycotting if they don’t agree.
If you're ready to sponsor an event or partner with another organization, Zipsprout makes the following recommendations.
Start by sponsoring the right event to get the most out of your investment and focusing on the quality of your brand impression.
Next, try to find a partner which shares your values and reflects a similar brand identity as the one you've. And finally, make sure your event runs without a hitch or with a few of them as possible because you don’t want your potential customers associating your brand with a bad time.
You can look at the rest of the data in the Zipsprout infographic below.
This article, “How Sponsoring a Local Event Can Grow Your Business”. Was first published on Small Business Trends