“It’s Not Worth It,” and Other Myths About Event Sponsorship
Have you been looking for creative ways to increase your business visibility and attract more customers? One option that can deliver great results is event sponsorships. However, there are plenty of misconceptions that people have about sponsoring events and how truly beneficial they can be for your business.
Explore these four myths about event sponsorship, and learn how this tactic yields a high return on your investment.
4 Event Sponsorship Myths
1. “It’s Not Worth It.”
You might think that while events are a fun time, there’s not as much measurable return on investment as other types of marketing. This is simply not true! Event sponsorships can pay off in both immediate sales and long-term lifts in brand awareness, as well as positive word of mouth. When a potential customer sees your name at an event, they’re more likely to remember it in the future when they need your services.
Coming up with a plan before the event on what your goals are and how you’re going to reach them is critical. Just showing up and giving away promo items can be fine for simple branding, but if you want to generate leads and walk away with a list of potential new customers, then it’s going to take some planning — but the return can be well worth the investment. This is because it’s one of the few ways that consumers and buyers can get that human experience with a brand. Everything is so digital and virtual these days that it’s rare someone can simply experience your brand and ask questions to a real human in a comfortable environment. This is the power of events and why ROI is not an issue for those with the right strategy in place.
2. “It’s a Lot of Work.”
This is a myth because, while it can be a lot of work, it doesn’t have to be. For well-produced events, like the ones we host at Hubbard Chicago, the actual event is very turn-key for sponsors. They are organized and there are always people to chip in and help make sure everything is running smoothly for you and your team.
There are also a variety of ways to make sure you’re not spread too thin during an event. This includes hiring outside help to work your booth, incorporating lots of employees into the space so nobody feels overwhelmed, and making your experience fun and interactive so the time flies for everyone involved.
There are also opportunities to focus your event sponsorship on more of the pre- and post-event marketing, including on-air spots, live reads, email, flyers, social media, and much more.
3. “Events are Just for Food and Beverage Brands.”
While event sponsorship is often associated with sampling, food and beverage isn’t the only industry that will benefit from event exposure. Food and beverage sampling is only one kind of sponsorship. Event sponsorships have proven to be beneficial for all kinds of brands that want to create an experience for their customers and connect in a fun, interactive, and engaging way. This includes, but isn’t limited to, auto dealers, hospitals, home improvement companies, healthcare clinics, retail stores, and more.
We pride ourselves on working with different industries to develop themed and customized sponsorships that will tie them into the event in a compelling way. This custom and strategic approach is what makes all the difference.
4. “The Big Names Will Always Dominate.”
If you own a small business, you might worry that you’ll be overshadowed by larger brands and sponsors at the event. Fortunately, our station events have proven time and time again that small and medium sized businesses can see very strong return on their investment at events of all sizes. This is because for the event-goer — they aren’t even aware of the hierarchy of sponsors. They simply are enjoying themselves and drawn to the sponsors that engage with them and appeal to them.
Event sponsorships can be not only incredibly effective and deliver a huge return on investment, but they can be fun, too! They’re a chance to meet your customers face-to-face in a laid back setting. Consider how successful events like The Drive’s Birthday Bash or the annual Bacon Bash have opened new doors for the sponsors and connected them directly to their target audience.