Targeting sponsorship within a specialist market niche
An Independent Insurance case study

Page 1: Introduction

The financial world used to be straightforward for consumers. They knew where to go and who to ask for the financial products they needed. In recent years, however, the market for financial services has changed almost beyond recognition. Today thousands of types of financial services’ products are available from a growing number of organisations. Consumers may have to assess many different...
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Page 2: Sponsorship

To promote products to niche markets, organisations have to develop strategies that meet the needs of smaller market segments within a larger market. Products have to be delivered in a flexible way that closely meets the needs of each customer. To appeal to a target audience within a niche market, an organisation needs a communication strategy that will help it to achieve its marketing...
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Page 3: Sponsorship of the Grosvenor House Art & Antiques Fair

The Grosvenor House Art & Antiques Fair is one of the highlights of the year for people interested in art and antiques. Each year items worth in the region of £300 million are displayed by top dealers to many of the UK’s most discerning collectors. The Fair appeals to different people - from private collectors, buyers and interior designers, to museum curators and socialites. ...
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Page 4: Benefits of sponsorship

One of the benefits of sponsorship is that it can help build and improve relationships with both employees and other organisations. Brokers who attended the event sent letters to show their appreciation of the corporate hospitality. Sponsorship of this type of event is more than a ‘one-off’ exercise. It offers long-term benefits through improved awareness of the company name in this...
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Page 5: Improving customer relationships

It is the fine detail of an organisation’s relationship with its customers that helps to form lasting impressions. For Independent Insurance, customer relationships involve a triangle between the Company, its brokers and its customers. Good relationships through this distribution network help to convert one-off purchasers into regular customers and finally into advocates, or committed...
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Page 6: Conclusion

Building up good relationships with both brokers and customers has helped Independent Insurance to develop a strong corporate image in a niche market. Ongoing sponsorship of the Fair will continue to link Independent Insurance very closely with this market. Sponsoring the Fair also reinforces Independent’s relationship with its brokers by helping them attract new clients and retain...
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