How to use sponsorship to maximise your brand
Updated: Oct 19
The first, is that your own company could choose to be a sponsor, either in a sort of ‘mentor role, for a smaller business, or perhaps as an ambassador for a charitable cause, maybe even in a small way such as donating a prize to an online auction or raffle.
The second way, is to find a sponsor of your own. If you run a smaller business, you could look to work with a bigger brand in your peer group or another industry that is a good fit, essentially using their bigger, more established reputation to help build your own.
Whichever route is most appropriate to your business, the ‘rules’ or etiquette of sponsorship are the same, as are the benefits.
First and foremost, the details of a sponsorship deal must be fully discussed and agreed by both parties, obviously you should only enter into an agreement that you are comfortable with and that is mutually beneficial.
So what are the benefits of sponsorship?
Essentially, by entering into a sponsorship arrangement, you are agreeing to ‘share’ your brand’s network and communication channels with your new partner. You can work together to promote one another across your own social media and so on, effectively exposing both of your businesses to a wide range of potential new customers.
Sponsorship relationships work best when you work with a brand that compliments your own rather than competes with it. For example, if you’re selling art supplies, you’d look to work with independent artists and designers rather than rival retailers.
Sponsorship can help to grow your network, increase brand awareness, and potentially even introduce you to new networking avenues that you hadn’t previously considered.
Most importantly, sponsorship arrangements boost your brand’s credibility and reputation – if a potential new customer sees your company advertised by someone they have already worked with and trust, they are far more likely to take notice of your brand.
Do you have a sponsor? Or are you a sponsor to someone else? What are your top tips for successful sponsorship arrangements?