Hundreds of professionals have paid to convene at a hotel resort for a few days. Their purpose: to gain new insights about their industry, network and make business connections. A conference is an investment, not only for those who attend, but for businesses whose logos appear on the signage, programs and booths.
Inc.com describes corporate sponsorship as a form of advertising in which companies pay to be associated with certain events. Conferences are a way for businesses to create intimate connections with their clients. In a time where public gatherings have mandatory sanctions and travel is down, is sponsorship a good choice for advertising dollars? Yes! Sponsorship still carries advantages. Below are six reasons why becoming a sponsor is still a good idea, even in a pandemic.
One of the first things that sticks out when reviewing any sponsorship package is the cost. However, becoming a sponsor can save money, this is one of the reasons why some corporations continue to be sponsors for industry events year after year. The Center for Exhibition Industry Research states that it costs 62% less to close a lead generated from a trade show than one coming from the field.
Increase Your Reach
Conference organizers utilize various channels such as social media, the organizers’ website, the conference’s website, radio, and television to promote the event. As a conference sponsor you gain access to not only the attendees, but the rest of the organizers’ following as well. As they advertise, your company name will more than likely be mentioned, which establishes credibility with consumers unfamiliar with your brand.
Conference sponsorship gives your company confidence with the consumer. Your presence establishes authority, which makes them comfortable with doing business with you. At a conference, you’re seen, which makes your presence strong, but not forceful. Attendees can learn more about your company in a more organic way. Perhaps part of your sponsorship package includes hosting a talk. This gives you the chance to showcase your company, further reiterating any messages you conveyed when networking. Continuing to sponsor the same conference provides you the opportunity to connect with clients face to face that are from a different region or country.
Harness Your Target Market
Conferences are niche events that cater to your target audience and customers. This gives you the opportunity to introduce yourself to new customers and get the jump on your competitors. A conference is a great venue to introduce new products and services thereby reintroducing yourself to existing customers who may think they know all there is to know about your company.
Heightened Brand Awareness
One of the biggest benefits of event sponsoring is brand awareness. The ability to stand out from your competitors and strengthen your brand’s visibility. This can elevate your brand to another level, placing it on the radar of companies you may want to partner with as well as creating indelible impressions with your target audience.
Perhaps your company is looking to reposition your brand, Well, a conference is a great place to start. You won’t be the only sponsor in attendance. By associating your company with certain brands, you can change the perception customers you’re looking to connect with have about your brand.
Meaningful Connections Lead to Better Market Influence
No matter how digitized the world around us becomes, human interactions are still the best way to make a lasting impression. Having an opportunity to shake hands, swap stories, and make emotional connections can hold heavy sway over your target audience, which only elevates your brand over your competition.
Speaking to a prospective customer at a conference enables you to speak eye to eye about their pain points and offers the opportunity to tailor your message to speak specifically to their needs, versus your customer viewing marketing material that is tailored for a mass audience.
As a sponsor you are a resource to your industry as conference organizers depend on the financial commitment of sponsors to put on their event. Sponsorship also provides an opportunity to create an organic, one-of-a-kind experience that fully showcases your company’s value to your target audience and other companies. Simply put, sponsorship is a worthy investment. The rewards can yield ROI quarter after quarter.