As local business owners there are few marketing strategies more successful in earning brand recognition, as well as positive brand association, than local sponsorships. In recent years, corporate sponsoring has become one of the fastest growing marketing strategies in the United States and 90% of Americans think companies should consider giving back to the communities in which they do business. As a sponsor you solidify your position as an influencer and community staple, for a generally small fee.

So what benefits are there when you become a local sponsor?

Brand Recognition: Depending on the type of event there can be a bevy of ways your brand’s identity and logo could be featured. Some options include t-shirts, banners, booths, commercials, and print advertising.

Client Response: This is a great way to network with current clients and prospective clients to find out what is working as well as get constructive criticism. If someone had a poor experience you can work on it, if someone had a great experience ask them for a testimonial or review (maybe write something about pointing them in the direction of social media reviews). Sponsoring an event gets you out of the office and interacting one-on-one with potential leads.

Advertising Opportunities: With a large or small local event there is always a decent amount of advertising and publicity most commonly found in the local paper, local news, and online local influencers. This is great for brand and event visibility.

Positive PR: Studies have shown that consumers are paying attention to community and cause involvement. Over 40% of Americans say they’ve bought products because they were associated with a cause. Raising money for an illness or helping to buy uniforms for the local kickball team is positive PR for your brand; drawing a positive connection between your agency and charity.
Content Opportunities: While you are gearing up for the event make sure to do your part, let the community know about the cause and that you are involved. Write a blog about it and make sure to post about it several times across social media.

New Leads and Business Partnerships: Be sure to scout for networking opportunities with the other businesses, it may lead to new customers or other sponsorship opportunities. You will also have access to distribution lists and big players in the community. If you have a booth, be sure to offer some discounts or mention a referral program!

Low Cost for High Return: For a reasonable cost you get much more in return. You can gain more presence locally, generate leads, do something good for the community and most likely get a tax write off. What are you waiting for?

Things to remember before writing the check:

Choosing a Cause: Make sure the organization or event meshes with your agency’s culture and make sure it’s fun! If the event isn’t fun or doesn’t create a positive experience, it won’t bring positive results. Some great causes to get involved in as an agency are fundraisers for cancer research, disaster relief, and community centers.

Make it Annual: If the sponsorship goes off without a hitch, why not make it annual? This will build stronger ties between your agency and your community.

Get in the mix: Make sure you know where your money is going. Find out how the event coordinators plan to raise awareness of the event. Don’t just slap your logo on a banner and call it a day, make sure your message is heard.

Create your Own: In many communities, sponsorship opportunities can be hard to find. One way to get involved is to plan it yourself. Try joining a chapter of a larger organization and host a walk or 5k in your town or plan a sporting tournament and encourage donations to a specific cause. Make sure you’re willing to commit, don’t bite off more than you can chew. Running an event can be stressful, make sure you have help and a detailed plan.

Sponsorship is not only a smart business decision it is also incredibly rewarding in the long run. Knowing you made a difference in your community and boosted your visibility as an insurance agency is the ultimate win-win.