Summertime is upon us and, among other things, this season is full of all kinds of sponsorship opportunities for businesses. Corporate marketing sponsorships are the undergirding of any charitable summertime activities. Children’s sports, camps, concerts, community festivals, car shows, museum exhibits, theater, golf outings, picnics… you name it and it has a corporate sponsorship attached to it.

Are sponsorships a good use of marketing dollars? Does the business who attaches their brand to a sponsorship ever reap any benefits in doing so? The answer is maybe. It is dependent upon two factors: what marketing goal are you trying to achieve with your sponsorship and who are you trying to influence?

You might know that Nathan’s Famous Hot Dogs sponsors a hot dog eating contest on Coney Island in New York every July 4th. Nathan’s started selling hot dogs in Coney Island in 1916, which made their brand popular in New York during the summer. However, Nathan’s Famous went national thanks to the sponsorship of the hot dog eating contest. Fame came to the brand via the sponsorship. If your marketing goal is to broaden your market, the right sponsorship may help you do so. Before anyone will buy your brand, they have to have enough awareness of it to understand just what you are selling and believe it is something that would benefit them.

Of course trying to sell your brand to someone who is never going to purchase anything from you is not likely in your best interest. It would be absurd for Nathan’s Famous brand to sponsor a vegan food fair. You have to understand your target market. Sponsorships that align with the interests of your target market is key. Lucas Oil is an example of a brand that has worldwide recognition because of its sponsorship of sporting events – particularly racing. They sell to gear heads who are likely to follow motor racing.

What if your brand cannot make a direct connection with your target market? Are there still marketing goals to be achieved if your sponsorship opportunities are not directly related to the people you are trying to sell? If you have a marketing goal of being seen as a good corporate citizen, then yes, pick your sponsorship and make your community a better place. There is value in getting behind a cause that both your employees and your corner of the world are passionate about. Years ago I did work for a corporation that sponsored an event that helped raise funds for cancer research. The owner of the company had lost both of his parents to cancer and he was passionate about helping fund medical research to find a cure. This was something his employees and vendors got behind as well. If you make this your goal, I would recommend you pick one direction and make it your focus. Too many different sponsorships waters down your impact.

The bottom line is sponsorships can be a very good thing for corporate marketing, but you have to plan for it. Be intentional about the direction you take in your sponsorships. What are your marketing goals? Does a certain sponsorship help you meet these goals? Evaluate your target market. Are there natural inroads with them through your sponsorship opportunities? What are you passionate about as a corporation? Are there ways you can leverage your customers, vendors, and employees to collaboratively get behind a cause? If so, put your full effort behind the sponsorship.