What are Guidelines for effective brand building events and experiences?
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Firms create events and experiences to engage consumers and media and support their brands. Properly managed events can deepen relationships with target markets. Effective event sponsorship requires aligning the event with marketing objectives and strategy. Marketers report objectives like increasing brand awareness and positive associations. Choosing the right event is important, as is designing an accompanying marketing program that is at least twice the sponsorship expenditure. Measuring methods include supply-side metrics like media coverage and demand-side metrics that assess consumer brand knowledge and exposure effects. Experiences can demonstrate how brands enrich lives while company visits can strengthen images.
What are Guidelines for effective brand building events and experiences?
- 2. • Events and experiences Means to become part of special and more personally relevant moments in consumers’ lives. • Events can broaden and deepen the sponsor’s relationship with its target market, but only if managed properly.
- 3. FIRMS CREATE THEIR OWN EVENTS AND EXPERIENCES TO AROUSE CONSUMER & MEDIA INTEREST AND INVOLVEMENT. Event creation is a particularly important skill in publicizing fund- raising drives for non-profit organizations
- 4. Fig. A major Times Square event to support the launch of a new line of GE Profile washers and dryers was part of an extensive integrated marketing communications program.
- 5. Events Objectives Marketers report a number of reasons to sponsor events To identify with a particular target market or lifestyle To increase salience of company or product name To create or reinforce perceptions of key brand image associations To enhance corporate image
- 6. To create experiences and evoke feelings To express commitment to the community or on social issues To entertain key clients or reward key employees To permit merchandising or promotional opportunities
- 7. CHOOSING EVENTS The event must meet the marketing objectives and communication strategy defined for the brand. The event must have sufficient awareness, possess the desired image, and be capable of creating the desired effects. CRICKET WORLD CUP SPONSORS
- 8. DESIGNING SPONSORSHIP PROGRAMS • Marketing program accompanying an event sponsorship ultimately determines its success. • At least 2 to 3 times the amount of the sponsorship expenditure should be spent on related marketing activities. • More firms are VOLUNTEERING their names to sponsor arenas, stadiums, and other venues that hold events.
- 9. MEASURING SPONSORSHIP ACTIVITIES Supply-side methods The supply-side measurement method focuses on potential exposure to the brand by assessing the extent of media coverage, and the demand- side method focuses on exposure reported by consumers. Demand-side method This Identifies the effect on consumers’ brand knowledge by sponsorship.
- 10. The idea is not to sell something, but to demonstrate how a brand can enrich a customer’s life. Companies can even create a strong image by inviting prospects and customers to visit their headquarters and factories
- 11. RECAP EVENTS & SPONSORS OBJECTIVES MAJOR SPONSORSHIP DECISIONS MEASURING SPONSORSHIP ACTIVITIES CREATING EXPERIENCES
- 12. DISCLAIMER Created By Satyam Singh, IIT BHU VARANASI ,during an internship by Prof. Sameer Mathur , IIM Lucknow . www.IIMinternship.com