The Secret to the Right Combination of Events and Sponsors

Partnering with the right event and making the best use of the on-ground market opportunity can increase returns manifold.
The Secret to the Right Combination of Events and Sponsors
Image credit: Shutterstock
Managing Director, Dome Entertainment Pvt Ltd
3 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Every event presents itself as an opportunity for a brand to grab and benefit from. From launching a product to communicating with the target audience, sponsoring an event helps a brand to gain from it in a myriad of ways. Brands tend to focus on events that attract their consumer group. For instance, a brand selling alcohol is driven to sponsor a music event in order to reach their target audience and create brand presence. Sometimes, brands are skeptical about the returns they will receive by sponsoring an event. However, partnering with the right event and making the best use of the on-ground market opportunity, can increase returns manifold.

Research

Before tying up with any event in particular, it is always advisable for the brand to do thorough and extensive research on the event they desire to partner with. It involves a detailed study at multiple levels in order to be sure before making any investment decision. Furthermore, brands should also focus on their on- ground placement during the event. If a brand is placed in a manner that makes it inaccessible for the audience, the entire effort could become useless. A well-placed brand not only attracts multitudes of consumers, but also ends up piquing the interest of several potential ones.

Creation of On-Ground Presence

A brand can do its research well and can get the hot spot at the event, but it may not succeed if it fails to create an on-ground presence, in terms of being noticed by the audience. If the event the brand is sponsoring is the best fit, it provides an opening to reach out to thousands of people at a single location. An event also provides a brand an opportunity to directly connect with its consumers and provide a personal touch along with the goods and services they offer. Further, brands should also inculcate engagement activities that help leave a lasting impression on the minds of the audience.

Collection of Data

Brands collect data throughout the event, and this data subsequently helps them in reconnecting with consumers, and maintain a long-term relationship. It also provides them with insights into their audience with regard to the feedback, thereby helping them understand what the consumer really desires. Event sponsorship is beneficial for both new and veteran businesses as it aids in learning how to stand out from competitors and attract more people.

Amplify Brand Efforts

Brands should advertise their efforts during the event on all digital media platforms to attract more traffic. A well-strategized digital programme can go a long way in making a brand an overnight sensation. The benefits can be reaped by a brand even after the event is over. They can create a video case study that talks about how well the brand blended at the event, as such case studies help create a top-of-the-mind presence, and also drive home potential consumers.

Combining Ground Sponsorship With On-Air Presence In Televised Events

Events, especially in India, are heavily dependent on sponsorship. It forms the main revenue stream for public events. When such events are on television, the deliverables to sponsors are often a mix of on ground and on air promotion. This method also gives the opportunity to maximum revenue angles that may be introduced with various perpetuations and competition.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur