Branding and Marketing gif
are aware that they might receive an award on the night, then they’ll want to be there to receive it so they can be visible as possible as a brand. Speeches plugging products can be given in order to add content to the press release the next day and said press releases can be made more attention grabbing with the addition of pictures such as Figure 1. If a company or media outlet wins an award and therefore receives the high level of publicity described, they’ll also be more willing to be- come a sponsor or patron of future events.
After the event, the event organisers can then go on to say that their Awards ceremony was the best based on the calibre of guests, presentations and speakers. This of course creates good publicity for the organiser and more people are interested in spending more money attending other events that organiser may put on-not just Awards ceremonies.
tives, sponsors have a platform to promote themselves and media patrons can provide reading material and subscription opportuni- ties to those wanting to find out more about the industry.
Media patrons can continue to provide pub- licity for the event organisers, delegate com- panies and sponsors even after the event, by publishing a report on the event in their publication. Representative delegates of the different companies and sponsors are therefore often keen to seek out the media patrons at events and give their reporters short interviews so that their name and their company will appear in the event report.
The role of Awards Ceremonies
Given this high amount of activity, opportu- nity and interest at each event, the events organisation scene is indeed very competi-
At other events of which they are sponsors
Through social media platforms
Media Patrons have a variety
In the puplication itself-through a
promotional article or in its regular events calender
of ways to promote each event to their readership, including
tive, especially in Islamic finance at the mo- ment. The importance and popularity of putting on, attending and sponsoring Islamic finance events is why each events organisa- tion must make sure their next event is big- ger and better than the last, in order to gain maximum profit and publicity. This is where branding naturally comes in but to make the event the best it can be, the quality of speak- ers and attendees must also be high. One way to guarantee quality is through select- ing sponsors who can provide speakers and promote the event to their readers. But what will convince prestigious publications and companies to sponsor your event?
This is where the importance of Awards ceremonies comes into play. It is relatively easy to attract the big industry players and media publications to Awards ceremonies simply by nominating them for a certain Award. If the big Islamic financial institutions
Through newsletters and email alerts to their subscribes
On their website-again on a events calendar or perhaps through a press release
On their website Afkar Consulting specifi- cally says that the company’s aim is to “de- liver a cost effective marketing and media strategies for products and services that are aimed at the Muslim community. Work- ing side-by-side with client’s existing agen- cies, we offer specialised sector knowledge through a team of skilled professionals to maximise opportunities in the Muslim mar- ket”. This makes it clear that Afkar arranges events such as the International Takaful Awards in order to boost the branding of Is- lamic finance companies.
All in all, Islamic finance awards ceremonies are becoming an increasingly large part of publicity, PR and marketing for both Award recipients and winners. It is hardly surprising given what an important part the increasing amount of annual Islamic finance events in general are playing in the industry. In the next part of this series we will look at other types of events such as conferences, sum- mits and seminars to analyse and evaluate the impact that they have on Islamic finance branding.
Additional Reading: gif
By telephoning their subscribers and associates
• Patel, Ebi. “Guide to 4th Annual South Africa Islamic Finance Busi- ness Awards”. 2009. • Egré, Natasha. 2010. “Volaw judges Best Islamic Administrator/Trustee”. Volaw Trust & Corporate Services. • Ali, Syed. 2010. “AmBank Group Wins Four Major Islamic Awards”. • Islamic Finance News Awards Poll. 2009. “Best Overall Islamic Bank 1st 2nd 3rd”. Islamic Finance News.
2010 October Global Islamic Finance 71
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