When sponsoring an event, you are most probably one of several
choices for the host. Usually with major corporations, it comes down to
the top two. If you are lucky to be one of those two, you have one of
two ways to handle the situation and decide whether or not to go through
with the sponsoring.
Option 1: Withdraw
Some business owners prefer to withdraw from the sponsorship to pressure the host into choosing them as a major sponsor without having the other competitor in the event at all. This stems from the belief that their brand is too strong to need backup from a second brand. This is usually seen when the sponsorship comes in the form of a service, such as food and beverage, rather than in cash and happens because the owners of the brand believe that they must appear sufficient to handle the event no matter how big the requirements. They see it as an insult to their name if the host allows a competitor to be included in the same event and belittles them in the eyes of the guests.
Option 2: Go through with the sponsorship
If a business owner decides to co-sponsor an event in the presence of a major competitor, they usually believe that they can handle any competition and see their presence next to competitor as a sign of power and confidence. They use this opportunity to send the message that they do not care who is present at the same place because they trust their name and the quality of the service they offer.
In that sense, it is up to the owner to decide what they can handle and what they can show during a certain event. However, when co-sponsoring an event with a major competitor, remember to let the host offer you exactly what the other competitor gets, never less. It is usually helpful to legally bind them with a contract to ensure that your business is not perceived as a less powerful one and less worthy of exposure.
When the event is over, give your business the media coverage and social media propaganda it deserves, to make sure that people come out of the event remembering your name not just what the event was about. It's an extra cost, but if your competitor is doing it, you have to do it too. If not, it's a bonus for you and will make you stand out further.
Option 1: Withdraw
Some business owners prefer to withdraw from the sponsorship to pressure the host into choosing them as a major sponsor without having the other competitor in the event at all. This stems from the belief that their brand is too strong to need backup from a second brand. This is usually seen when the sponsorship comes in the form of a service, such as food and beverage, rather than in cash and happens because the owners of the brand believe that they must appear sufficient to handle the event no matter how big the requirements. They see it as an insult to their name if the host allows a competitor to be included in the same event and belittles them in the eyes of the guests.
Option 2: Go through with the sponsorship
If a business owner decides to co-sponsor an event in the presence of a major competitor, they usually believe that they can handle any competition and see their presence next to competitor as a sign of power and confidence. They use this opportunity to send the message that they do not care who is present at the same place because they trust their name and the quality of the service they offer.
In that sense, it is up to the owner to decide what they can handle and what they can show during a certain event. However, when co-sponsoring an event with a major competitor, remember to let the host offer you exactly what the other competitor gets, never less. It is usually helpful to legally bind them with a contract to ensure that your business is not perceived as a less powerful one and less worthy of exposure.
When the event is over, give your business the media coverage and social media propaganda it deserves, to make sure that people come out of the event remembering your name not just what the event was about. It's an extra cost, but if your competitor is doing it, you have to do it too. If not, it's a bonus for you and will make you stand out further.
