Update Your Sponsorship Program
Download this one page cheat sheet to enhance your sponsorship program
Sponsorship for events really boils down to one thing… Money. Most organizers need sponsors to make their events possible, and you need to know more than just how much your branding opportunity is worth. As an event producer, it’s your job to cater to your sponsors and ensure that their branding dollars are actually going to bring them customers. If not, they will not support your event in the future. Looking to improve your branding opportunities and improve sponsor relations? Sponsors want a few key things out of today’s events:
A Partnership with you
Whether you’re running one event or several, brands are looking beyond providing their logo to simply put on some banners. They are looking to immerse your guests in an experience revolving around their product. Your event staff will need to be somewhat knowledgeable on the product or service that each sponsor provides. Many sponsors will even send their own brand ambassadors to promote during the event.
Better Brand Placements
Generic catch all event branding is a thing of the past. Sponsors are now looking for a more intimate space or high end space to brand. This could be anything from a VIP lounge, executive suite, or retail station. Sponsors want to be integrated with these areas to impact their target customers. Take your existing event space and create high quality exhibits, retail, and activations to then offer to sponsors. If you’re limited on space, you may be worrying about reducing the total number of tickets, but in 2022 and beyond, you need to plan quality over quantity. Higher-end event, higher ticket prices, higher sponsorship funding.
Along with better brand placements, sponsors are looking for sustainable swag. In your meetings with each company, get creative with eco-friendly ideas. As an example, your event can offer branded canteens with self re-fill stations instead of selling plastic water bottles.
An Ability to Target Their Customer
Let’s say your city is in charge of hosting state baseball championships. Instead of selling and placing a Joe’s Local Car Dealership banner out in right field, they can bring their show room to the baseball complex. Rope off an area at the entrance and invite the dealership to bring some new inventory, along with their best sales people. You then charge a premium for that space and still tack on that banner in right field to remind parents to stop by their setup.
This scenario is a win for all groups. Your event just sold a high end sponsorship, the business connected directly with who they were targeting in the community, and the customers get an interactive experience that they will remember. It’s exactly what the business wants as their target customer literally walks up to the display.
Data and Tracking Metrics
Aside from how many attendees, your group should be able to calculate estimated ROI based on similar branding opportunities and previous event insights. Do a sponsorship case study to get more data. Too many brands don’t track exactly where their customers came from, so show them how you can implement tracking into your event. Utilize QR codes to track exactly how many customers ended up purchasing a product or service. Don’t stop at the conclusion of your event, sell post event digital advertising through social media and email blasts.
Gear up your sponsorship program for the future in order to stay competitive.