Corporate Sponsorship: Definition, Examples, Benefits & Risks

HSBC Hong Kong has used insights from its CEM and CLCM platforms to transform its digital account-opening process for customers. These insights help HSBC generate customer profiles and inform its strategic response. The implementation of this “NPS ecosystem” has revolutionized the bank’s culture by placing customer-centricity at the core of its business strategy for the first time and embedding NPS into the scorecards of every staffer. Project sponsors acquire many responsibilities over the course of a project’s life. Once you’ve clarified exactly what you would like to gain from a partnership, you’ll be much better placed to make one happen that’s going to have a positive impact on your brand. If brands aren’t in it for the right reasons, there can be a number of pain points.

1. There are many project management tools to avoid convoluted workspaces where people don’t know where to go for key information.
2. Imagine the vast opportunities that unfold when you can take your strong partnerships online and explore the boundless potential of digital platforms.
3. Investment from these corporate entities, which may range from venture capital firms to investment banks can help companies grow and go public.
4. For example, electric vehicle maker Rivian was one of the biggest IPOs of 2021.
5. In the Middle East, a sponsor acts as a type of guardian as well as guarantor.

Projects need a variety of resources to be executed and delivered successfully. In most cases, these resources come from a sponsoring organization or project sponsor. One of the most pervasive cocaine addiction findings in sponsorship is that the best effects are achieved where there is a logical match between the sponsor and sponsoree, such as a sports brand sponsoring a sports event.

Types and Examples of Marketing Sponsorships

Headspace, a digital mental health company, released a new report, finding that work stress is driving lasting negative impacts on employees’ mental health, physical health issues and social health. When we foster cultures of inclusion, we help reduce stress and create space for an employee’s work and career to bloom, directly impacting multiple dimensions of well-being. The elevated customer experience resulted in 20% more new customers choosing HSBC as their primary bank. As of 2023, eight out of 10 Hong Kong Millennials bank with HSBC, a testament to the bank’s emphasis on customer experience. In addition to the HSBC account welcome email, the messaging engine screens customers’ identities and detects their messaging preferences to provide additional onboarding modules tailored to their specific banking needs.

Pew Research Center found the foreign-born population in the U.S. reached 44.8 million, or 13.7% of the U.S. population in 2018. The number of immigrants living in the United States is projected to almost double by 2065. Trauma and stress are common in first-generation immigrants, according to the National Alliance on Mental Illness. Two-thirds of Hong Kong Millennials in a recent HSBC survey rated seamless integration of their banking services as “extremely” or “very” important.

Project Sponsor vs. Project Owner

It’s time we take things up a notch and delve into how you can activate experiential marketing as part of your sponsorship plan. Imagine the vast opportunities that unfold when you can take your strong partnerships online and explore the boundless potential of digital platforms. By nailing down these aspects early on, you’ll have a roadmap guiding all your sponsorship marketing efforts toward achieving quantifiable results. Next are the different types of marketing sponsorships to give you a better understanding of what might work best for your business. There are at least seven other types of marketing sponsorship, which we will mention in this article.

The top underwriting sponsors (also referred to as co-managers) on the deal included Morgan Stanley, Goldman Sachs Group Inc. and JP Morgan Chase & Co. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Consider their relevance to your market, their reputation among consumers, and how well their values complement yours.

Setting Goals and Estimating the Project Benefits

It’s just one of those situations where being (respectfully) direct is best for everyone. During this time and throughout, they’ll ensure that the project receives the appropriate amount of support and resources, which would include mentorship, staff allocation (or hiring approval), funding (and a budget), plus any necessary tools. Consider how many prospects to contact, what outreach channels you’d like to use (eg. email, LinkedIn, phone) and how you plan to uncover the correct contact details.

What is sponsorship marketing?

This enhances people’s perception of your brand, fosters loyalty among existing customers, and attracts new ones. Let’s see how this strategic approach could work wonders for your business as we explore its benefits in the next section. Corporate sponsors may also expect some measurement teetotalism wikipedia of the exposure they received, for example how many billboard ads or Facebook posts carried their logo, or the number of email marketing campaigns and their open rate. Sometimes, due to the actions or policies of the corporate sponsor or the sponsoree, one party may back out of a deal.

Sponsors help guide the company through the initial public offering (IPO) process and also provide credibility for new investors considering the IPO investment. Leading IPO sponsors are typically investment banks that take a stake in the company as well. Investors often look for wide sponsorship of a stock before investing, believing that the endorsement of institutional investors adds a measure of safety to their investment decisions.

CLCM tracks customer input and activities in real time with robust data-analytics capabilities that help the bank further evaluate and refine its customer engagement. The banking and finance sector, which has long emphasized product strategy over customer experience (CX), is facing increasing pressure from brick-and-mortar, online, and fintech competition. This makes it critical for brands in the industry—especially well-established ones with a heavy reliance on a human touch—to deliver CX that gives customers what they truly want and need. Both tools actually go way beyond project management and will help teams push their product forward with features such as forms, whiteboards, documents, team chat, and more.

Clearly set expectations, frequent communication, and mutual trust are necessary to ensure a successful project. A project sponsor on the other hand is generally not only part of the organization but also accountable for the project. They are responsible for the overall success of the project, and they typically define and ensure the project’s success. Depending on the project, a sponsor will also frequently act as a mentor to the project manager. As the plan sponsor, employers take responsibility for the benefit plans offered. The plan sponsor does the research, selects the appropriate service providers, deals with legal and administrative elements, and is sometimes a legal fiduciary.

Corporate sponsorship is common for programs at museums and festivals, but is also seen in the commercial sphere, such as athlete endorsements. For example, athletic facilities may bear the name of a company and the name of a sporting competition may be proceeded by the name of a company. The level of recognition depends on the goals of the sponsor, as some companies may want to further a particular project or program without drawing public attention. Thanks to their deep pockets, financial resources, and knowledge of different industries, sponsors play a vital role in business and finance. Investment from these corporate entities, which may range from venture capital firms to investment banks can help companies grow and go public. When a company chooses to go public it also engages the support of a sponsor or sponsors.

The entity may also help fund the activities and purchases of an athlete, musician, dancer, theater company, or even a boxer. ProjectManager has a number of tools that help you get your tasks done on time and under budget, and then communicate that success to your project sponsor. A project stakeholder is anyone who’s affected by the project to some degree.

Sponsors and sponsored parties should set out clear terms and conditions with all other partners involved, to define their expectations regarding all aspects of the sponsorship deal. A range of psychological and communications theories have been used to explain how commercial sponsorship works to impact consumer audiences. Most use the notion that a brand (sponsor) and event (sponsoree) become linked in memory through the sponsorship and as a result, thinking of the brand can trigger event-linked associations.

This blog post shows that sponsorship marketing is an effective publicity tool. As with any form of marketing, strategizing a sponsorship program requires analysis and planning with clear objectives in mind. Effective sponsorship marketing is built on solid relationships between the sponsor and the sponsored. Both the project sponsor and project manager are highly involved in the project and responsible for the outcome and success.