Is your marketing plan too reliant on event sponsorship and networking functions? Many consultants, accountants, lawyers and other professional services firms rely far too heavily on sponsoring events as the cornerstone of their marketing plans. While event sponsorships can raise some visibility for the firm and its name, there’s very little evidence that these sponsorships actually convert into new clients and new business. There are better options out there for your marketing budget. Here’s how to find them.
- The survey revealed that sponsorships and the networking events associated with them were the least effective ways to influence referrals.
- So why don’t sponsorships work? While they can contribute to your brand awareness, they are lousy at conveying your agency’s value proposition.
- Sponsorships only make sense if they present a valuable “pay-to-play” opportunity — for instance, allowing you to speak to a group of influencers. Sponsorships may also provide some benefit if they demonstrate your involvement in a group that’s crucial to your business.
“Printing logos on cocktail napkins and tournament signage has zero value if the individuals who see them have no idea what you bring to the table.”