better business blog

Tips and stories to add value to you and your organisation

A Fresh Look At Sponsorship

1 September 2013

The world is full of people who need our help and as a private individual I am happy to sponsor friends as they attempt to cycle up Everest or run a marathon carrying an egg and spoon. Good luck to them I say!

However, from a business perspective I have been less keen to sponsor people, events, or good causes. Not because I am inherently mean, but because as a smaller business I am not sure I can afford to compete with the big boys (and girls) who seem to have the funds for impressive events and large banners.

It was interesting, therefore, to reflect on the nature of ‘corporate sponsorship’ on Business Life the other week. This is the radio show I host on Future Radio each Thursday from 12noon to 2pm, ably assisted by Anna Stevenson, my co-host. We celebrate all walks of business life on the show and have a stream of interesting people who join us to share their expertise and their passion.

On this particular show we were discussing the nature of sponsorship and two things struck me:

1. That sponsorship is open to small companies as well as large ones.

2. That sponsorship can be an effective part of a marketing plan.

It seems obvious when you think about it – small businesses can generate great PR for less than £100 by sponsoring an event, or being part of a larger group of sponsors. When we do sponsor someone, or something, that can be a carefully considered part of a wider marketing plan, designed to increase brand awareness and lead us to more sales.

If you’re thinking – oh how obvious – then this week take a fresh look at your marketing plan and see if it mentions corporate sponsorship anywhere. Ask yourself what you could sponsor for £100 to raise your profile…the costs of corporate sponsorship can be lower than you think.

I’m off to sit in a bath of beans – all sponsorship welcome!*

Next week: Working at home top tips

*Being a good leader I may delegate this task!