Social Media Marketing Glossary
Having trouble understanding a new social media marketing concept? The next step: expanding your knowledge and becoming a marketing connoisseur.
Keep up with the latest social media terms, concepts, and trends thanks to our comprehensive glossary.
Prospect
What is a sponsorship? How can I get a sponsorship? What’s the purpose of a sponsorship?
Over the last decade, more and more individuals are becoming involved in social media, regardless of their generation. And truth be told, social media is one of the easiest ways of staying up to date with what is happening in the world, catching up with your friends, or simply just relaxing.
It’s only natural that now businesses and brands are also involved in social media, posting regularly, and trying to stay in touch with their audience. But one of the most important things businesses and brands need to take into consideration in the age of social media is the power of a sponsorship.
By using sponsorships, brands can and usually create ways of connecting with their target audience. After all, this is their best bet at staying relevant.
Potential sponsors see the ROI (Return On Investment) and realize how important a sponsorship relationship can be. With the right goal in mind, a sponsor can gain access to a suitable audience or make a name for themselves on the right social media platforms. And this is not in any way a new topic; what is new is the way in which brands are becoming smarter when it comes to how they use their resources in their sponsorship-focused endeavors.
Social media platforms (such as Facebook, Linkedin, Twitter, and so on) have advanced so much that it is almost impossible to run a business successfully without having some social media accounts that you post regularly. Being hands-on with various online communities is at the root of building sponsorships and powerful connections.
So why doesn’t everyone invest their hard-earned money into social media and sponsorships? It might be because they worry about the Return On Investment and they are afraid they will only lose money. Another reason might be that they believe they can’t tell a story that is worth sharing, and therefore, they would have invested in a sponsorship for nothing. However, with some research done right, any organization regardless of its size can benefit from sponsorships. All they’d need to do is commit to integrating it in their business model the correct way.
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