Sponsoring charity events has great benefits for your business. Apart from increasing loyalty, it offers publicity and is great for growing your network. Would you sponsor a charity event?
Did you know generosity is the new marketing? Much of the latest marketing initiatives involve “giving” something back to the public rather than “getting” people to check out the new ad or buy your latest product. This is why you often see companies giving out stuff for free whether it’s through content marketing – offering helpful online resources – or even organising charity events.
Organising charity events helps businesses connect with their customers, and creates a sense of community. As such sponsoring an event can do a lot for a business in terms of promotion. Here’s how you can help your business by sponsoring a charity event according to Joanne Fritz, Nonprofit Charitable Orgs Expert:
- Increasing brand loyalty
- Brand differentiation
- Strengthening brand image
- Creating company/product awareness
- Targeting a niche market
- Building new community networks
- Free Publicity
These are some of the many business benefits of sponsorship. If you are considering sponsoring a charity event here's how to make the most of it.
1. Define Your Budget
First, you need to consider how much money you will need for the event. Joanne Fritz suggests that you begin by thinking about how much the venue will cost you, the advertising and other preparations including the physical setup. Apart from these, you should also calculate how you will gain from the event, how much you will charge for it and whether you are going to have your employees helping or not.
2. Decide on the Type of Event
The next thing you need to consider is what type of charity event is it going to be? This should help you secure more partnerships with people who care about the cause you are interested in – and as such are more likely to sponsor you. Also, it will effectively market the event to niche groups raising more awareness and potential participation.
Rob Hard, Event Planning Experts, says that there are many sponsorship categories to choose from and gives the many sponsorship deals you can get for the Taste of Chicago food festival as an example. But, this depends on what you are doing as a business and what you are trying to promote.
3. Focus on the Benefits
When looking for sponsorship, you need to make it clear to your partners and other businesses that they will receive benefits from sponsoring the event. This includes exposure to potential customers, media visibility and many more. Doing so will get more organisations interested in your charity event as well as customers. Also, it will help you build your own network of sponsors whom you can contact again for future events.
4. Use Your Network
One of the surefire ways to get sponsorship is to talk to employees, current partners and members of your board who might have connections in the local community. Depending how big your business is, by simply asking your employees to spread the word you will get introduced to people who can handle corporate sponsorships for any kind of business.
Sponsoring a charity event can be extremely useful for your business. It can help spread the word for a new product and increase the visibility of your business. Is there a valid reason not to do it? What do you think? Leave your thoughts in the comments section below…