Leveraging sponsorship as catalytic tool for fostering engagement
By Felicia Nwosu
Future-thinking and innovative brands have continued to leverage sponsorship as a remarkable tool in steering the trajectory of their growth through immersive consumer experience. In the time past, lots of brands have tremendously boosted their business growth and visibility by unlocking the power behind this remarkable marketing strategy.
Across brands, sponsorships have become a ubiquitous presence, relentlessly captivating audience attention with subtle strategies. These engaging contents move from sports events to music festivals, to lifestyles and others.
Overtime, several events such as the world cup, The Africa Cup of Nations, Big Brother Naija Show and several other platforms have helped to revolutionize the entire story of some brands through the efficacious power of sponsorship. Such events have been catapulting brands into the limelight as they tap into their audience touch-points.
Several brands in line with their objectives are leveraging the influence of sponsorships as a catalyst for fostering a conducive environment for optimal performance in driving the success of specific initiatives.
The immense power of sponsorship encompasses fostering a brand’s engagement with consumers and providing insights for long-term goals, especially in helping to craft solutions that resonate with its broader strategic vision and facilitate the smooth implementation of their initiatives.
According to some marketing experts, intending brands must carry out a thorough research before investing their money under the diverse categories to enable them constructively choose the category that appeals to them, with consideration to affordability and creativity.
The four main various levels of sponsorship include bronze, silver, gold and platinum style tiers. They also come with pre-determined perks that increase sponsor visibility at each donation amount and include title sponsorships, in-kind sponsorships and a la carte options.
Interestingly, several factors are propelling the influence of sponsorship growth rising from the fact that today, the tool is viewed as a unique promotional opportunity, the influx of technology and increased media interest in sports and entertainment programming, the growing frustration with traditional media and many other factors.
For brands to achieve exceptional results from sponsorship activities, some industry experts suggest that they must clearly outline their goals and vision while ensuring that they are in tandem with the consumers’ ever-evolving needs.
They noted that a successful sponsorship must be flexible and consistent to enable such brands to respond to changing dynamics in the future.
No doubt that lots of brands are today leveraging sponsorship to increase brand recognition before, during and after events such as music, sports, fashion and several others. Surprisingly, there are, as well, some legal consequences attached to it.
It is therefore important for those seeking to enter into partnership for sponsorship to think it twice while the standard legal and financial obligations associated with sponsorship. They should also consider the risks and liabilities which are also legally enforceable. Where a brand fails to meet its obligations as a sponsor, it can be rightfully sued by the beneficiary.
The ball is now in the court of brands to make a bold but calculative move before embarking on the mission of sponsorship. Such will help them optimise their investment and at the same time reach the target audience.
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