Business sponsorship is not a new marketing or public relations idea that businesses use to gain recognition or to instill goodwill in consumers. The idea has been used and is used quite frequently in the business community to create awareness and increase consumer spending.
Sponsorship involves a business offering financial support to a company, event, activity or organization in pursuit of their goal. The benefactor generally has a product or service that they are trying to increase awareness of or bring customers to. In many sponsorship cases, especially in business, the recipient of the support agrees to tout the name of the sponsor in their marketing or advertising, branding or promotions material. The situation works ideally for both parties because each gains exposure for their cause while offering a (perceived) value to its customers.
Soon, the internationally-based company, Emirates, will be enjoying that same type of attention once deal is sealed on their sponsorship of an airline service in the United Kingdom. Shortly, Concorde Roundabout will come to be known as the Emirates Roundabout. Emirates is a giant in the economic sector of international airlines, having attached its name to activities like thoroughbred horse racing, football, cricket and rugby. They have enjoyed phenomenal success and measure it by word-of-mouth wonders. People just “know” the brand of Emirates and trust its reliability. When the Emirates name is attached to a product or service, (as in the case of the new airlines), there is favorable response. When you’re in the land of Emirates, everyone just knows what to do.
Achieving the status and pleasure of being a household name is no easy task, for any company of any size. Working on marketing, advertising, strategic product placement, customer satisfaction and customer retention are but some of the challenges facing companies who seek branding and profitability. They may try several strategies, lose a lot of money and tweak a lot of budgets before they decide on what is best for the company. Sponsorship allows the company to gain exposure and market its product or service, all at the same time. Connecting with customers in the medium of sponsorship keeps the company name out front and establishes it as a business leader – - not to mention the coveted word-of-mouth and household name advertising that accompanies it.
What things have Emirates done right?
- As a corporation giant, they have sponsored and are sponsoring businesses that will tout their name and logo to thousands of potential customers.
- They have carefully and methodically chosen where they will place their business name. This is a make-or-break deal in the business world.
- They have taken the luxury of time to build a solid business foundation so that customers will gain trust in their product.
Although sponsoring a business can involve quite a bit of capital, the return on the investment is by far a greater reward for the sponsor. Giving and being involved in a business, supporting its functions and encouraging its business activities helps both businesses to thrive and establish themselves in the marketplace. I would speculate that with Emirates’ strategic sponsorship and business model, their corporate image will become a common business name, one where customers know and trust that they are getting exceptional service. After all, isn’t that the goal of all businesses?
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