What does sponsoring an event mean?
Category:
events and attractions
business expos and conferences
Sponsoring something (or someone) is the act of supporting an event, activity, person, or organization financially or through the provision of products or services. The individual or group that provides the support, similar to a benefactor, is known as sponsor.
Also to know is, how does sponsoring an event work?
A sponsor is an advertiser that supports a business or individual in return for promoting its services or products through the entity being sponsored. Sponsoring a person or company through your business can help associate your company with a positive image and gain you new customers.
Likewise, what are the benefits of sponsoring an event?
- Direct access to your target market.
- Lead generation.
- Sales.
- Building a reputation.
- Increased visibility.
- New clients and customers.
- New business partnerships.
- Better perception by your target audience.
This will depend on the sponsorship levels set by the organizers of the event. Sponsorship can range anywhere from $500 to $100,000 depending on the event. There is also in-kind sponsorship where no money is exchanged, instead it is an exchange of goods, service or a discount.