Corporate sponsorship has seen a 45% boost across Europe over the past ten years, according to statistics portal Statista. Increased exposure, higher levels of brand awareness, lead generation and community integration are all associated benefits of sponsorship. Combine these with the high potential of profile raising within new markets, and the trend towards corporate sponsorship comes as no surprise.
Given the probability of significant return on investment, awardsponsorships in particular can be viewed as attractive opportunities for organisations. In this blog, we explore the benefits of award sponsorship and how it can drive business success. We also speak to Jacobs about their headline sponsorship of the 2018 Causeway Business Exchange awards and how this helped them to expand their network in Scotland, Ireland and Northern Ireland.
Increase visibility
Corporate awards are ideally suited to sponsors who are aiming to increase visibility within their network. Given that a large proportion of attendees are decision makers and figures of influence, sponsorship represents an opportunity to be placed directly in front of target audiences.
For those organisations with a larger presence, nationally or internationally, expanding networks locally can pose a challenge; in cases like these, local and regional award events tend to be a good fit.
Gaining access to networks like these mean that companies can develop and nurture relationships to the point where they become commercially beneficial.
Access new markets
Award sponsorships are also of significant benefit to companies seeking to enter new markets. In this context, businesses can circumvent the challenges traditionally associated with securing visibility and influence within an unfamiliar domain.
Sponsoring organisations secure instant association not only with the awards body itself, which often represents the interests of industry-specific members, but also with fellow sponsors, many of whom will be market leaders. Consequently, businesses are able to enhance their reputation and boost their credibility within new sectors, whilst also guaranteeing direct communication with market front-runners.
Marketing advantage
Award sponsorships also represent ample marketing opportunities. Awarding bodies regularly undertake their own PR, media liaison and social media activity. They tend to have engaged audiences with a genuine interest in their communications. Usually, sponsors are included in this marketing activity, and companies can use this as a platform to share their key messages.
Sponsors can also undertake their own marketing activity, highlighting their market connections and reaching wider audiences. Owned content, such as shareable blog posts and social communications surrounding sponsorships can be used as a means to engage and educate stakeholders and potential investors.
At Causeway, we host the annual Causeway Business Exchange awards, which seek to recognise organisations and individuals that have achieved business success on both sides of the Irish Sea.
Stefanie O’Gorman, Director of Sustainable Economics at Jacobs, discussed the international engineering firm’s recent sponsorship of the awards:
“Sponsoring the Causeway Business Exchange awards was a fantastic experience. The initial discussions we had with key contacts on the night and the subsequent meetings we secured have been hugely beneficial to us. We were able to develop relationships with individuals to whom we previously had no connection and have been able to grow these to a point where they are now commercially beneficial.
“Our sponsorship enabled us to raise our local profile and extend our network, and has helped to enhance our connections in Scotland, Ireland and Northern Ireland.
“I would highly recommend the Causeway Business Exchange awards to companies seeking sponsorship opportunities. Not only do the awards make for a great night, full of like-minded people, but they also provide the potential for greater commercial exposure to influential people in both the public and private sector.”
Jacobs joined RSM, Enterprise Ireland, Fexco, CMS and Represent as official sponsors of last year’s awards.
If you would like to raise your company’s profile and expand your business network in Scotland, Ireland and Northern Ireland, consider becoming an official sponsor of the Causeway Business Exchange awards 2019. Simply contact us to discuss opportunities.
Causeway is also open to individual and corporate members seeking to engage with the Scottish and Irish business community. Learn more about membership benefits or join now.
Date Published: 02/05/2019
