Vodafone sponsors several leading sporting brands including the record breaking Ferrari Formula 1 motor racing team and Manchester United, one of the world’s most successful football clubs. Sponsoring these leaders is an important part of Vodafone’s corporate and marketing strategies, which are designed to make the company one of the world’s best known brands. As a winner itself in its own line of business, Vodafone sees good sense in being associated with other winners and being involved in aspirational activities which excite the public.
The benefits of sponsorship
Sponsorship is the material support of an event, activity or organisation by an unrelated partner. It is a good way of increasing brand awareness, which helps to generate consumer preference and to foster brand loyalty. A company can reinforce awareness among its target market by sponsoring an event or organisation that attracts a similar target market.
Sponsorship is not an act of charity – it must show some form of positive return on investment (ROI). Since sponsorship is a business arrangement, standard evaluative criteria should be used to establish the suitability of a proposed event in relation to the sponsor. image and products. A sponsor can enjoy a wide range of benefits from a carefully selected sponsorship, which can:
- raise brand awareness and create preference
- create positive PR and raise awareness of the organisation as a whole
- provide attractive content for a range of products and services
- build brand positioning through associative imagery
- support a sales promotion campaign
- create an internal emotional commitment to the brand
- act as corporate hospitality that promotes good relations with clients.