Should Your Business Sponsor An Event?

We’ve worked with several non-profit events–usually in the role of encouraging businesses to be sponsors. Depending on the event, it can be a really great opportunity to not only do a great thing for your community, but also enhance your company’s image.

Sponsorship—whether by a donation of time or money—promotes a company to a specific target market, while also contributing to the community. It’s important to make sure a sponsorship opportunity is compatible with the company’s overall marketing strategy and core values.

“We’re a local business, and this community has been fantastic to us, so [sponsoring the Jacksonville Open is] an opportunity to give back, particularly given the economic times we are in and that not everyone can do this,” McLauchlan said.

via When Should A Small Business Sponsor An Event – Resources – Portfolio.com.

The key is “make sure a sponsorship opportunity is compatible with the company’s overall marketing strategy and core values.” In other words:

• If you own a liquor store, sponsoring a marathon might not be to your advantage.
• An “Air Sex” competition (Google it) at a local bar might not be a great fit if your business caters to families.
• It’s usually a good idea to chip in as a sponsor of your city’s biggest July 4th event if you want to establish or maintain your hometown bona fides.
• Pick one or two reputable community organizations or causes to sponsor. Quality, not quantity, will be better for your budget and overall image.

You get the idea.

Just be sure when you sponsor an event you get a little bang for your buck. Of course, you’re not going to get exact, dollar for dollar equivalencies like you would buying ads, but make sure you do get links on websites, logo placement on collateral and of course, free tickets for your key staff if possible.

If you do sponsor–show up. If your company buys a table at a dinner or auction party, be there. While your sponsorship is appreciated, an empty table with a sign reading  “Sponsored by ACME” can make the sponsorship seem a little hollow–and you’re cutting your sponsorship’s PR value in half. Seal the deal by being present at the event. If you can’t go, send staff who will represent your company well. If you sponsor a festival, ask employees to wear company shirts to the event.

We think it’s important as a “corporate citizen” to sponsor or volunteer at community events. Besides the PR bonus, it just feels good to do good. Give it a shot.