Credit: CPG Agency
The event sponsorship sector is always developing, and new trends are appearing as a result of the quickly shifting market conditions and technological improvements.
The following new event sponsorship trends are anticipated to be very popular in 2023:
1. Events held in person
A Bizzabo study found that 73% of workers were either ready or very ready to attend events held in person again in 2023. Virtual events have shown to be a cost-effective and practical method to engage with your target market, but in-person events are regaining popularity as consumers seek for more genuine interactions and relationships. Events are nothing new to the sponsorship market, and we anticipate that most organisations and conferences will make a significant effort to conduct more live events locally.
2. A rise in the need for genuine and significant sponsorships
Businesses have seen that customers are showing a growing amount of interest in goods and services that share their beliefs. Companies are anticipated to make sponsorship investments in 2023 that are genuine, significant, and in line with the interests of their target consumers. A company may, as an instance, support a charitable occasion or a project that adheres to its brand ideals.
3. Technology use to improve sponsorship experiences
The way that sponsors are experienced is changing as a result of technological advancements. Companies could employ technology to develop more interactive and interesting sponsorship experiences in 2023. Using augmented reality (AR) or virtual reality (VR), for instance, sponsors may give their target consumers a more engaging experience. Games, tests, and other engaging activities that may be sponsored by a company can be made using these technologies. Everyone enjoys watching an event or game closely to see who will win the reward.
4. Usage of influencer marketing has increased
Influencer advertising has become a well-liked strategy for companies to connect with their target markets, and in 2023, it is predicted to increase even more. In order to reach new audiences, particularly younger people who are very engaged on social media, businesses are likely to make investments in influencer sponsorships. For instance, a company may pay a well-known Instagram influencer to provide promoted content for their followers.
5. Increased emphasis on social responsibility and sustainability
Companies are well aware of the endeavour as consumers’ concerns about environmental and social responsibility grow. Businesses are anticipated to make sponsorship investments in 2023 to show their dedication to sustainable and social responsibility. A business may support a community development programme or an environmentally friendly energy project, for instance.
The sponsorship business is always changing, and new trends that take into account the shifting economic climate and technological improvements are anticipated in 2023. The advantages of enhanced brand awareness, improved interaction with their intended consumers, and increased customer loyalty are expected to accrue to businesses who quickly adopt to these trends.
Companies may develop sponsorship programmes that are successful in achieving their objectives by concentrating on digital and online events, genuine and meaningful donations, technology-enhanced events, influencer marketing, sustainability, and social responsibility.
If your company is interested to sponsor art, technology and fashion events, do reach out to us at info@bestevents-asia.com.
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