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Why Do Companies Use Sponsorship?

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Sponsorship is a global phenomenon, with both sponsors and entities operating on an international stage, often with differing divisions of the same organization operating in different markets with different markets with different sponsorship objectives (Ryan & Fahy, 2012). Despite under such a complex condition, sponsorship marketing is still able to achieve success due to the irresistible benefits that it offers. According to IEG (2008), companies use sponsorship because the benefits that it offers are quite different and the medium works best as part of the integrated marketing communications effort that includes the use of all the marketing methods. The benefits of sponsorship as listed by IEG (2008) are:
1. Increase brand loyalty
2. Create awareness and visibility
3. …show more content…

Ritchie (2010) said that technology enabled sponsorships to allow technology businesses to showcase propositions that make a difference to the property; in terms of helping the property to operate more effectively and perform better with the help receive from technology. As mentioned earlier, technology plays an important role in becoming a medium for communication; thus, it is often use as a medium to interact between the fans and audience which indirectly creates an experience for them and helps to build the bond too. Technology companies also have the opportunity to exercise and integrate additional areas of the business with a well-considered sponsorship platform and with the correct usage of sponsorship marketing allows technology companies to create a foundation programmed that can positively impact many areas of the business (Ritchie, 2010). This can definitely boost the business as a large amount of audience from all over the world can be reach through the usage of technology. Besides, technology helps in easing the burden of heavy load in traditional

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