Every year for over a decade, the city of Avon, Ohio celebrates the Duck Tape Festival. This annual weekend-long event is fun-filled for the whole family, and the sponsorship support of Budweiser and many other brands help make this festival reach national attention. Featuring the Duck tape parade and Duck Tape fashion show, this creative and unique festival stimulates the economy while placing the spotlight on sponsors like Budweiser. Businesses should take note of local event sponsorship opportunities, which can often achieve similar results.
Sure, not every business can afford to sponsor an entire event on the scale of the Duck Tape Festival, but for all sizes of businesses, there are opportunities on every level. Based on the 2017 BrandMuscle Effectiveness Index for most effective local marketing channels:
- 84% of Hosting events
- 77% of Event Booths
- 76% SEO
- 69% Sponsorship
Yet many are still relying only on social media, digital ads, or email promotion to get the job done. At the same time, 87% of consumers think that companies should invest in the causes of their communities and around the world. This leads to unique opportunities for corporate sponsorship.
Every year companies give more than $17 billion in donations to nonprofits. Corporate donations are among the highest contributors to nonprofits and charity organizations and generally consist of monetary donations. Unfortunately, many nonprofits have a difficult time demonstrating the impact of such gifts and often fail to communicate with their corporate partners. Through monetary donations look good on paper, the results may end up feeling lackluster. Corporate sponsorship holds the key to making those charitable dollars, and not to mention those marketing dollars, really count. Smart business leaders know the value of getting involved with greater causes, community betterment, and charitable work; as a result, these leaders turn to corporate sponsorship. Companies can:
- Sponsor charity events
- Have sales or promo booths at existing events
- If it’s within their means, can host their own events or on-site activities
For those who participate, 80% of local businesses are satisfied with the results of their local marketing events. The name recognition built from sponsoring events helps organically boost local SEO, instead of just Facebook sidebar ads. Events can get business mention and backlinks in:
- local newspapers and blogs
- community calendars
- national scale industry newsletters
- local business publication
This promotes a level of visibility that simply cannot be bought, and shows the community through action, rather than words, that this is a trustworthy company that is dedicated to community growth.
For these businesses during the 2016-2017 year, there was a -22% decrease in overall leads but a +14% sales increase. Events attract people who are ready to buy and be involved, and sorts out the window-shoppers – micro-market focused events mean better result for everyone.
Once considered an opportunity only open to larger corporations, smaller businesses on a local level are getting involved too. How does your business utilize opportunities for corporate sponsorship? Maybe it’s time to go hyper-local. Take a look at this infographic for more on the power of local event sponsorship, how it grows businesses, stimulates local economies, and helps corporations stand out among the rest.
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