Sponsorship is proving to be one of the bright spots in an otherwise gloomy and volatile economy. An annual review from IEG predicts a 5.5 percent increase in sponsorship by North American companies in 2013 over the previous year. To break it down in numbers that’s approximately 13.79 billion.
The reason for this is that sponsorship is one of the best ways to create brand loyalty and stand out from the competition. As advertising branches off into more niche markets, and multi platforms and channels, sponsorship is going to play an bigger role than ever. Sponsors want to be able to focus on their targeted market in new and different ways. They want to get up close and personal with their customers and let them know they are appreciated. Being able to target their needs and wants in person assures that they are getting the message.
For the entity looking for sponsorship they are going to have to create more value for the dollar. This really isn’t a big surprise, as sponsorship has been evolving and becoming more sophisticated through the years. It’s actually good news for the rights holders who are willing to go the extra mile.