The impact of event sponsorship in the oil and gas industry
- Sharon Huan Fui Lau
- May 31, 2020
- 3 min read
Based on my experience organizing events in the past, I learned that sponsorship is an essential factor in a successful event. Event sponsorship is important for multinational company to increase brand awareness in the oil and gas industry (TapFuse 2019). For instance, Petronas has sponsored the cycling event, PETRONAS Le Tour de Langkawi (LTdL) 2020.
Since 1997, PETRONAS has been partner with LTdL and has made great contributions for LTdL in past few years (New Straits Times 2020).
Because of the multi-stage competitions held in multiple locations, LTdL helps Petonas to better attract the audience, and in the past 24 years, this international event has remained attractive and relevant (New Straits Times 2020).
As shown in the Twitter post of Petronas Brands, you can see from the video, the cycling event has attracted a large number of local and international audiences.
Furthermore, because of cycling is getting more popular in Malaysia and around the world, Petronas believe that LTdL is a good platform for them to establish and promote its brand locally and internationally (New Straits Times 2020). The cycling event will also broadcast in the main markets of Petronas, including China and Southeast Asia in order to target key audience in overseas market (New Straits Times 2020).
Moreover, sports will bring the people together, therefore Petronas as the sponsor for LTdL will increase the engagement with the audience. In addition of Petronas continuous efforts in building their brand domestically and internationally, the sponsorship also gives Petronas an opportunity to expand its influence in the wider community, which is cycling sports fans and audiences (New Straits Times 2020). Study also shows that majority of audiences will interact with the brand that provide excellent event experience will making them more likely to purchase their products (TapFuse 2019).
From the Twitter post above, the participants of cycling competition are coming from different countries, and this will increase the brand recognition of the potential audience.
From the post on Le Tour de Langkawi official Facebook page, there are many local audiences who are interested in sports games and they are all enjoy in watching the cycling competition. They are paying more attention to such event, therefore Petronas will be able to attract more audiences by sponsoring sports events.
LTdL also broadcasts its event live on Facebook (New Straits Times 2020) to enable audiences to watch it online and create more word of mouth for LTdL and its sponsor, Petronas. Through live broadcasts of the cycling event will enable Petronas to attract more local and international audiences to increase brand awareness.
All in all, event sponsorship is important for oil and gas industry to target audiences domestically and internationally to enhance brand awareness and increase market share in the oil and gas industry.
References:
Cycling_360 (@cycling_360). 2020. “Italy’s Danilo Celano (Team @tsc_my) won the
25th edition of the Le Tour de @ltdlangkawi 1 Celano D 2 Fedorov Y 3 Ovechkin A. 4
Ficara P 5 @QuentinPacher 6 @hideto_252 7 Raileanu C. 8 @lorenzfortunato 9
@carjulian05 10 @Manuel700 #PETRONASLTdL2020.” Twitter, February 15, 2020,
Le Tour de Langkawi (@Le Tour de Langkawi). 2020. “MALAYSIA INTERNATIONAL
CLASSIC RACE : 15 FEB 2020 @LANGKAWI #LTDL2020 #PETRONASLTDL.”
Facebook, February 15, 2020. https://www.facebook.com/watch/live/?
Le Tour de Langkawi (@Le Tour de Langkawi). 2020. “The Stage 6 race in Penang
was filled with a lot of good fun and cheers by the fans and supporters brimming the
roadsides!” Facebook, February 19, 2020. https://m.facebook.com/story.php?
New Straits Times. 2020. “LTdL Pedals on with Petronas Power.” February 5, 2020.
Petronas Brands. (@Petronasbrands). 2020. “Are you ready for the last leg of the Le
Tour De Langkawi event tomorrow? Quench your thirst with two Tealive drinks for just
RM10 with Setel and take part in exciting activities happening at the booth. See you
there! #ltdlangkawi #PETRONASLTdL2020 #LTdLangkawi #LTdL25years.” Twitter,
February 13, 2020, 7:30pm.
TapFuse. 2019. “Connect with Your Target Market. Why Sponsor an Event?” Get
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