When it comes to campaign ideation, there are numerous choices to consider to meet the respective campaign objectives and KPIs. From BTL to ATL activations, choosing the right list of activations have to ultimately meet the objectives of the campaign. Brands now have to tack on additional marketing touchpoints when they become a sponsor to connect with audiences. Based on the latest trends, there is a rising agenda with up to 31% increase of marketers saying that they expect to spend more on this category in 2022, according to a WARC article on “Global Advertising Trends: Where is the money going?”. This goes to show that more companies are considering putting in more budget on this platform.
Sponsorship marketing- what’s in it for you?
Sponsorship marketing works when a brand offers support such as resources or funding to another brand, an event or individual, in return for them to promote brand awareness and reputation indirectly. When it comes to evaluating sponsorships, it should go beyond just generating publicity for the brand but rather, a collaboration where both the sponsor and sponsee can gain synergy in achieving their respective objectives. This can help the sponsor to reach a more specific audience as they would associate them with the sponsee as reliable and relatable, increase visibility through its branding element and generate sales leads. Rather than viewing it as another channel to use, brands should leverage on sponsorships to replace traditional media marketing, such as print advertising and television commercials that lacks multiple touchpoints, as an alternative platform for digital and experiential marketing.
Which is better- in-Kind or financial event sponsorships?
From live events, webinars or as product sponsor, the opportunities are endless for a brand to leverage on a sponsorship as part of their marketing strategy. In-Kind Sponsorships are one of the best ways for a brand to grow your awareness and gain traction.
These forms of sponsorships value adds to your event by providing goods and services instead of physical currency. For your brand to stand out from the pack, brand elements or products have to be implemented strategically to captivate the eyes and attention of the audience, allowing it to gain exposure and recognition. This was how Mashwire integrated product sponsorship of their drinks to local fitness and Aerial Art studio, with social media marketing and on-ground trials in a campaign for H-TWO-O in order to spread awareness of their rebranding. Sponsorship activations can be easily integrated to such experiential marketing strategies for brands to gain visibility. Any creative ideas for sponsorships should synergise with each other in meeting the communication objective.
Measuring sponsorship performance
When it comes to measuring the effectiveness of this platform, we want to measure the impact of the sponsorship and whether the investment is justified. Knowing the analytics and metrics of your digital platforms used will help you to understand the success of the sponsor. Some metrics to look out for are:
- New and unique customer acquisition
- Traffic on website and landing pages
- Number of email sign-ups and click through rates
- Lead generation from online or offline sites
- Conversion rate
Overall, if you are looking for a new marketing strategy that gives your brand exposure, you may want to consider looking for a sponsorship to build goodwill and a positive image. It is important to define the level of sponsorship to maximise the value gained from the collaboration. Want to find out more about shortlisting the best fit sponsors for your next campaign? Reach out to us for a chat!
