How do companies who serve as event sponsors usually measure sponsorship success
Event sponsorship can be a powerful marketing tool, enabling you to associate your brand with a cause that matters to your customers. However, the effectiveness of event sponsorship is not always immediately apparent, and sometimes you reap benefits from sponsoring an event over time even when you don't see an short term return. Measuring the effectiveness of event sponsorship involves tuning in to objective factors by tallying response rates, and also paying attention to less determinate cues such as positive feedback. Show Offering Special Deals
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This post is part of the HBR Insight Center Marketing That Works. Why is one of the oldest marketing tactics — sponsorships — currently in vogue to the tune of $3.37 billion a year and growing? It seems that every major marketer and most minor ones are engaging in some sort of sponsorship marketing. As marketers continue their shift from building brands to “activating” them, sponsorship marketing’s ability to connect with people’s passions and deliver inherently social content is only going to make it a more important tool in marketers’ arsenals. Sponsorship marketing typically feels good, but it frequently delivers less than optimal results for the marketer. The reasons are myriad, but more often than not, they can be traced back to treating the sponsorship as an end in itself, rather than as an enabler of marketers’ broader strategies and objectives. So how do marketers utilize sponsorships, partnerships, and tie-ins to increase their marketing value? One key is to look beyond the typical objectives of reach and affinity to leverage the sponsorship’s ability to create value for consumers in a way that can drive behavior change and reinforce the brand. This can be achieved by employing the inherent appeal of the property to create unique opportunities for experiences, access, self-expression, entertainment, connection, or contribution to the social good — all of which, when properly conceived, can deliver sufficient value to consumers to incent a click, visit, trial, extra purchase, trade-up, or opt-in. Bing’s sponsorship of the release of Jay-Z’s autobiography last fall provides an interesting example. Aiming to increase visits and “intent to use” among an audience that was younger and more coastal than their middle-age, Midwestern core users, Bing created a culturally relevant opportunity for entertainment, access, and unique experiences. Via a digital gaming experience built on Bing’s Search and Maps, they offered millions of Jay-Z fans the ability to assemble the autobiography before it hit stores by discovering pages in media spaces around the world. The offer not only increased Bing’s relevance to its target audience, it drove behavior: in this case, in the trial of the product, because the game required the use of Bing’s search and maps to play. Bing reported that visits to its site increased by 11.7% during the campaign, a jump that was achieved without the support of other advertising during the program period. What’s more, by driving trial — and therefore overcoming the lack of familiarity that can be a barrier to future usage — participants reported that they planned to continue using Bing after the game. This sponsorship was successful because it remained focused on clearly defined goals and worked on multiple levels. Bing and Jay-Z created value and participation with consumers and drove them to engage with or rethink their products. What they also did, which is critical to maximizing the value of any sponsorship but particularly one that may have multiple partners, was to create territory within the sponsorship itself that accrued affinity and equity to the marketer’s brand. To begin increasing the effectiveness of sponsorship programs to build both brand and business, try the following:
Done properly, sponsorship marketing can offer much more than mere affinity and “eyeballs.” It can also play a starring role in activating consumer behavior and motivating an entire system to do the same. People’s passions — whether they’re causes, competitions, music, or movies — offer myriad opportunities for engagement, content, sharing and value. Find the right match and unlock its power to build passion and business for your brand. What are 4 methods for measuring sponsorships?4 Ways to Use Event Tech to Measure Sponsorship Activations. Measure sponsorship activations with RFID. ... . Measure sponsorship activations with event apps. ... . Measure sponsorship activations with social media metrics. ... . Measure sponsorship activations with surveys.. How the impact of sponsorship can be measured?Tracking measures such as viewership, attendance, participation, impact on brand image attributes, purchase intention and sales are some of the other metrics that the best sponsors are using to measure sponsorship properties and the impact that sponsorships are having on their business.
What is the most direct measure for sponsorship effectiveness?Cost per reach- Marketing executives should evaluate cost per reach, defined as the number of people exposed to the sponsorship in person as well as through media including TV, radio and print.
What makes a successful sponsorship?Staff engagement a really successful sponsorship will work well internally as well as externally. Look for scope for staff incentives, motivational talks or for members of staff to become involved with the sponsored activity. The sponsorship should feature regularly in internal communications.
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