Reds Marketing Tips

Reds regularly creates Marketing Tips for users who would like to increase, and perfect their marketing campaigns.

Sponsorship - an existing event versus creating your own event

The difference between a mediocre and successful sponsorship lies in the leverage of sponsorship. Maximizing visibility through creative and imaginative exploitation can maximize coverage and awareness and optimize the return on investment. An Existing EventThe success of an existing event depends on the skills and experience of the organizer. The following questions should be asked;* Who is responsible for event promotion?* Will it draw spectators?* How can attendance be maximized?* Are rights fees and admin costs understood?* What budget is set for sponsorship leverage? There are a few strategic considerations in selecting an existing event.* Will there be any other sponsors besides yourself and at what level of involvement?* What are the rights allocated to other sponsors and how does it differ from yours?* Did the other sponsors gain rights proportionate with their payments?* How was the price determined?* Are the other sponsor's businesses compatible with yours?* Ensure visibility of your brand if the event is cluttered.* Identify the opportunities of hospitality.* Can the brand association dilute and overpower the brand association developed by a previous sponsor? Creating your own eventCareful control is needed when creating your own event.Some areas to consider;* Positioning statement that is branding the image* Hospitality - how your customers and VIP guests are treated* Number and type of sponsors* Event quality Creating your own event involves risk and advice from lawyers, insurance professionals are required. Broadcast sponsorship provides the best coverage over the widest possible audience.Take the following into consideration when considering broadcast sponsorship* Market coverage...

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How to select a Sponsorship

Selection criteria consist of factors having a direct bearing on the choice of event. This is developed from sponsorship objectives and will depend on the needs of the company.The following are common sponsorship objectives: Corporate:* Increase or maintain awareness* Enhance or change a corporate image* Change target market perceptions or attitudes* Develop community involvement* Build business or trade relations* Enhance staff relations and motivation* Build goodwill among customers, business contacts and key influencers Product/Brand* Increase sales/market share* Increase target market awareness* Identify/build product image* Strengthen brand preference Selection CriteriaTarget Market CoverageThe event must reach the target market. Detailed information in terms of both the event and audience should be gathered. Also, investigate the degree of reach. Projections based on similar events can be used to determine coverage and the required transmission time. Timing /seasonalityConsider corporate marketing needs, product seasonality and other communication strategies. Establish that the event does not clash with another major or other events - as media coverage may then only consist of a few minutes or column centimetres. Competitor ActivityInvestigate competitor sponsorship involvement. If deciding to sponsor a similar event ensure that the event is high profile enough to dominate. Communication FactorsConsider the 'type' of sponsorship available, as different messages are conveyed and different communication strategies are required by different sponsorship types. Event ProfileInvestigate the history of the event and previous sponsors. Ascertain whether the created equity can be displaced in the target market. Potential Media ExposureTake the level of media exposure through on-site branding at the event...

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Why Sponsorship has rewards for both business and society

A committed and well-managed approach to sponsorship results in vast and multifaceted long term benefits and rewards. The following benefits are unique to sponsorship: FlexibilitySponsorship positions your company with your target market's interest and is responsive to their preferences, lifestyles and attitudes. This is achieved because sponsorship allows for niche marketing.Many events and activities enable different sponsorships and can be selected to fit requirements. The opportunity to connect with consumers on a one-to-one by associating the brand or company with the qualities of the event is utilized. Brand EquityThe qualities of a sponsored event, through association, can expand, reinforce or even alter brand personalities traits. Sponsorship can serve as an important branding vehicle and is a unique way of generating brand loyalty and long term corporate awareness. Media ExposureSponsorship is the only form of marketing communication where the message does not compete with other promotional clutter.It can extend the ad campaign by creating a dynamic, interactive environment that makes the key message more relevant and persuasive. Cost-effectivenessSponsorship provides coverage and brand awareness at a more favorable rate than traditional advertising. It adds value and incorporates public relations and social responsibility programmes. Industrial Labour RelationsThe morale of staff is influenced by your company reputation and image. Open DoorsCorporate hospitality, reputation and a good corporate image can enhance its ability o do business with local and national governments. This produces access that otherwise would be costly and difficult to achieve. Cross All FrontiersSponsorship is global and crosses all barriers of bureaucracy, national prejudice...

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