Marketing And Sponsorship – Definition, Characteristics, Benefits, And More

Definition

Marketing And Sponsorship  – An agreement between a brand and a person or entity to promote the company that will be a sponsor, which implies an economic-financial deal between the parties involves. That is to say the company that wants to upgrade is the sponsor (who pays and delivers the products to be promotes).  And through whom it is carry out is the sponsor (who receives the payment and promotes the product or service). Whenever, continuing with our line of content aim at helping you better understand the different concepts of digital marketing, we want to tell you the details of an image relate to brand content of sponsorship.

Characteristics Sponsorship

It is related to an activity:  like sport, art, and music, that represents qualities of the sponsoring brand.

Involves a character and celebrity:  the agreements are made with well-known characters. Which characterize the value that the brand wants to convey (for example, Messi wearing Adidas products).

Activities outside the company:  events such as a polo match, an admire artist, or the celebration of a relevant event; are the activities in which the sponsorship is carry out. And that do not necessarily occur within the scope to which the sponsoring company belongs or characterizes.

Benefits Of Sponsorship

Beyond the economic objective, this communication benefits all parties: the sponsoring brand, the sponsor through its image, and the customers. Moreover, it is not invasive:  certain advertisements are usually intrusive (such as some television commercials, spam emails with suspicious offers, etc.). In this case, the opposite is the case, so acceptance by the public will be natural.

• Easy integration into the lives of customers: the fact of seeing the characters using the product or service in their lives comes naturally to people.
• Increase brand valuation: the brand is associates with specific values, thus increasing customer valuation. Also, naturally, since it is the people who make this assessment.
• Open new channels of communication: by appearing in new scenarios and opportunities. However the brand opens channels to communicate that it had not previously contemplate and is beneficial for long-term communication.

What Sponsorship Is As A Marketing Tool And What Types Of Sponsorship?

This concept, develop in 1994 refers to any paid attempt to influence audiences for a commercial purpose, using communications that project a non-commercial character.

Companies Can Use 2 Tools For Their Communication

• Advertising (advertising): refers to the paid dissemination of communications in which the issuer is identify
• Free advertising (publicity): refers to unpaid broadcasts in which the issuer is not identify.
• Under this prism, mixed messages are those of paid diffusion where the sender is not identify. Therefore, these combine 2 of the advantages of the previous ones: they are paid (control over the message), and there is no identification (which means more credibility)

What Is Sponsorship As A Marketing Tool?

Sponsorship is a marketing tool that seeks free advertising (publicity) for a company. And its brands within a specific target audience through the support (financial or of any other type) of an activity not directly relates to the objective. Normal company. For this to be effective, the sponsor activity must be relevant to the target audience. Only in this way will we be intelligent to generate engagement with the brand.

Advantages Of Sponsorship For Brands According To The Audience

• Depending on the target audience, sponsorship as a marketing tool has several advantages for brands:
• Consumer: primarily builds brand loyalty by making the brand’s value proposition more consistent with their lifestyle.
• Employees: create an internal brand experience, reinforcing its meaning and supporting improving the work environment.
• Corporate: usually apply with actions towards stakeholders or interest groups (customers, investors, suppliers, influencers…) seeking to create goodwill towards the brand.
• The benefits of this marketing tool for the brand are many. Still, above all, the experience lived by the consumer, associating it with relevant activities for him, creates value in the form of brand loyalty and goodwill towards it.

Main Types Of Sponsorship As A Marketing Tool

Sponsorship can take different forms, allowing it to be categorized into different types. Here are the three main types of support: sports, cultural, and social.

Sports Sponsorship

• It is perhaps one of the most widespread and practiced types of sponsorship. In this case, the brand sponsors or supports a sport to link its values and image to what said mark conveys. It is subdivided into three subtypes:
• Sponsorship of activity areas: refers mainly to sports leagues, tournaments, or championships. You can see an example in Vig-Bay in this image of the Atlantic made by JV Landín.
• Team sponsorship is present in the team’s key elements, such as equipment. We can see an example of Columbia Pictures sponsoring Atlético de Madrid in the 2004/2005 season.
• The sponsorship of people: the relationship of the brand with the benefits of the athlete, who already constitutes a brand with its image, personality, values, and acts, is sought.

Culture Sponsorship

Also known as patronage, it is a practice that dates back to ancient civilizations, with artistic activities promotes mainly by monarchies and religious organizations. However, cultural sponsorship has taken new forms, such as award ceremonies, scholarships, cycles and festivals, financing of exhibitions, etc. In this case, the actions are intended to encourage, promote and preserve culture, art, and cultural heritage.

Social Sponsorship

Greatly enhanced by the rise of CSR (corporate social responsibility) in companies, it consists of the support by brands and organizations for causes of social interest in different fields, such as scientific, educational, health, social inclusion, etc. . It is also closely relates to the concept of social marketing. An example of this type of sponsorship is the Fundación Barrié Action (Banco Popular) to prevent drug use.

Conclusion

A form of communication that aims to encourage consumption in people to increase sales and generate new sales of a product or service. This type of communication encompasses various formats such as audio, video, photos, flyers, billboards, digital or face-to-face events, etc. However, each ad always has a message to share strategically. And those advertisements that we cannot forget are those that have done their job very well.

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