Sponsorship of major events has become a highly effective marketing strategy for businesses. From music festivals to sporting events and industry conferences, partnering with high-profile events offers companies a unique opportunity to reach a wide audience, enhance their image and generate new business opportunities. This blog post takes a closer look at the importance of sponsoring major events, such as the prestigious Cannes Lions Festival, and highlights the many benefits for businesses.

What is the Cannes Lions Festival of Creativity?

The Cannes Lions International Festival of Creativity is the largest gathering of PR professionals in the creative marketing community. It brings together international advertising and communications professionals in the French resort of Cannes to discuss and learn about the latest trends. Awards are also presented in categories such as ‘Media’, ‘Entertainment’ and ‘Innovation’. One thing is clear: it will be a week of networking, creativity and inspiration. The International Communications Consultancy Organisation (ICCO) has represented the PR industry at the festival for over a decade, providing a platform for PR professionals from around the world to exchange ideas and network. This year, ICCO will once again be part of the well-established event. As the main sponsor of ICCO for “PR in Cannes”, Worldcom Public Relations Group will bring together a large number of talented PR professionals in Cannes. As a member of the Worldcom Public Relations Group, HBI has the unique opportunity to travel to Cannes and actively participate in the Cannes Lion Festival.

What is event sponsorship?

Without sponsorship, major events such as the Cannes Lions Festival would be difficult or impossible to organise. Event sponsorship is when a company supports an event by providing funding in return for non-monetary value. This value can take many forms, such as the opportunity to network. Companies invest in events for a reason – they hope to generate value for their organisations. Conversely, the more sponsors that can be secured, the higher the event budget – and the more memorable experiences that can be offered to attendees. Sponsors provide not only financial support, but also valuable expertise: with their network, experience and expertise, they can help give an event that “extra touch”.

Benefits of event sponsorship for organisers

The ‘what’ of event sponsorship may now be clear, but the ‘why’ may leave you wondering. Why go to the trouble of investing time and resources in researching, contacting and securing event sponsors? Is it really necessary? The answer depends on the organisation and the event. But in general, there are compelling reasons why event sponsorship is worthwhile:

1. Build long-term partnerships

By sponsoring major events, companies have the opportunity to build long-term partnerships and relationships with other companies, organisations or influencers. In the long term, these partnerships can help to expand the company’s network, create synergies and implement joint projects.  For example, the partnership with Worldcom Public Relations Group gave HBI the opportunity to participate in the aforementioned Cannes Lions Festival. High-profile events such as these are ideal for companies to build long-term relationships and maximise their own business potential.

2. Expanded market presence

Event sponsorship gives companies the opportunity to promote themselves to a wide audience. Visitors to these events will be exposed to the sponsor’s services and products, creating a positive impression of the brand. This helps to increase brand awareness and retain the company in the customer’s mind. When sponsors are attracted to an event, they benefit from increased visibility and can attract the attention of potential customers. Choosing the right sponsors is crucial to targeting a specific audience.

3. image enhancement

A company’s image can also be enhanced. By associating itself with a prestigious event, a company signals to its own customers and business partners that it is innovative, modern and successful. This association can increase confidence in the company and open up new business opportunities.

4. differentiation from competitors

In an increasingly competitive business world, it is vital for companies to differentiate themselves and develop unique selling propositions. As main sponsors of Cannes Lions, ICCO and Worldcom, for example, benefit from the festival’s positive reputation. Sponsorship of major events therefore offers companies the opportunity to present themselves in a creative way and, in the case of Cannes Lions, to position themselves as innovative and visionary.

5. strengthening corporate culture

Another positive aspect is that corporate culture can be strengthened while at the same time encouraging the commitment of employees. By giving them the opportunity to participate in events or be actively involved in the sponsorship process, they can identify with the company’s values. This can help to increase employee motivation and strengthen the team spirit within the company.

Conclusion

Overall, event sponsorship is a win-win situation for organisers and sponsors. The strategic partnership allows for an expansion of the event budget, strengthens brand exposure and provides access to valuable resources and expertise. With the right sponsors and a clever strategy, great events can be organised. And what better example of event sponsorship than the prestigious Cannes Lions Festival, where creativity and innovation take centre stage?

HBI Communication Helga Bailey GmbH, together with the Worldcom Group, will be part of the Cannes Lions International Festival of Creativity 2024 from 17 to 21 June 2024. We are already looking forward to networking with other international participants and gaining exciting insights. Find out more on our LinkedIn.

About the author

Lucia Galindo Riedel

Communication Advisor at HBI Communication Helga Bailey GmbH

Lucia Galindo Riedel has been supporting HBI in the areas of PR and marketing since 2024.
As a Communication Advisor, her responsibilities include the creation of professional articles & the conceptualization of social media postings.

Furthermore, Lucia is involved in directly assisting our client work.

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