Is there any Roi to sponsoring an event?
Sponsorship has been on my mind lately.
Of course with Super Zoo coming at us like a freight train and with our amazing sponsors on board, I began to wonder why they said yes to sponsoring the WIPIN reception and why others said no. What, exactly is the benefit of sponsoring something?
In full disclosure, we didn’t ask you, nor our members generally, it was more specific this year, but I’ll get to that.
The Better Business Bureau lists 5 main benefits of sponsoring an event…
The top reason is – To Increase Brand Awareness –
This makes sense when you think about it. We no longer see the COKE logo on things because it’s already sunk into our consciousness, and so, it’s familiar, normal, right. And it’s there, always there. We might not notice if it went away (for awhile) and then the brand would fade also.
How much is that worth? What do you think Coke thinks?
Here is where I ask you, Coach that I am, what are you thinking right now? If your answer is, “My brand is not Coke” you are missing a key point. It doesn’t matter how big or small you are, it’s being in front of YOUR audience.
Here is the info from The Better Business Bureau:
Raise brand awareness: This goes without saying. Businesses sponsor events because it puts their brand in the spotlight for the event. It may not mean a financial gain for the company but it certainly puts the brand in front of people. It creates positive PR and raises awareness of the organization as a whole and enhances brand credibility.
Notice that it states: This may not mean a financial gain. One thing I have learned is that when we equate everything with the idea that it must bring a financial gain, we miss out.
Rarely do you gain at the moment, even when you make a sale. The gain is in the long term, in the reputational capital you gain, in the relationships and relational capital and when someone decides to be loyal to you by continually doing business with you. This is the goal.
Here is another reason to sponsor from the BBB:
Emotional connection: People often spend with their heart. Making an emotional connection to purchases builds brand loyalty. Seeing your brand connected to nonprofit drives this connection for consumers. Quite simply, it shows your brand cares enough to get involved at the community level. Your brand becomes more appealing.
The Brands sponsoring the WIPIN reception this year all have a commitment to supporting women leaders in the pet industry. (So check them out!) They are stating with their sponsorship that what we are doing is important, that they want to make certain women are giving the same opportunities and they know doing things to help the pet space helps them.
Now on to why I didn’t ask you, or our members in general. Women in The Pet Industry Network is morphing. We have been at this awhile now and it’s time this network, and me, shifted the focus a bit. Play bigger, realize that to help you more we need to be different, better.
If you are curious or want to be a part of the metamorphosis, email me, this is an exciting time and though we’re not in a hurry, it is happening.
Please check out our sponsors, and if you are attending the reception, please thank them, spread the word about them and realize, it’s a smart and savvy business philosophy. So what will you sponsor?
Blessings,
Shawna Schuh, CSP
“Make It Magnificent!”
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