This article is syndicated fromÂ LinkedIn
Smart managers understand that being welcomed in a community is a privilege, not a right. Nearly 90% of consumers think that companies should invest in the causes of their local communities. Corporate sponsorship is one of the most effective marketing tool a company can use to boost sales and exposure, but remains consistently underutilized.
Corporate sponsorship can present itself in a variety of ways and for every size business. Even for very small, local businesses, becoming a household name is possible. Co-hosting charity events, working with nonprofits and volunteering, even sponsoring a group for a 5k walk/run can have similar effects to Budweiser’s large scale Duck Tape festival. For the businesses that choose to participate in their community, 80% are satisfied with the results.
Getting creative with the marketing budget can generate interesting and exponential returns. Businesses that use their unique privileges to support their local economy give their own business room to grow as well. Take a look at this infographic from Zipsprout for more on howÂ corporate sponsorship affects communities, the economy, and long-term business growth.
Attribution to Zipsprout.com for this graphic.