The Event Sponsorship Revolution: Winning & Retaining Sponsors
Selling event sponsorships is a tough business. Companies spend thousands (and millions) of pounds, dollars, Euros, etc. to sponsor an event . Given these large investments, the idea of asking for a concrete Return of Investment does not sound too inappropriate. Event organisers and marketers are looking for new ways to partner with brands to create the best possible value for both parties and to ensure each of them meets their goals.
What is the event sponsorship revolution about?
Digital changes everything. Brands plan their marketing budgets in a very different way now and the rise of online marketing has an enormous impact on their expenses. In times where everything is becoming measurable, event sponsorships need to provide true value and go far beyond brand awareness. Sponsorship is not just about placing a logo and getting access to an event. Potential sponsors need to know what they will get for their money.
Events are now online 365 days a year and the conversations with clients can be kept alive before and after an event through social media platforms. This is a massive revolution in itself because the collection of client data allows marketers to get a much clearer picture of their clients and individual target groups. Furthermore, the customer insights create new opportunities of aligning an event towards clients’ needs.
Winning and retaining sponsors with the right event data
The real value of sponsorships needs to be measurable and demonstrated towards customers. Can you provide names and numbers? Sponsors are hungry for information about attendees, no matter if it's a B2B or B2C environment.
The most important question to them is if they will be able to meet potential clients at your events.
When we talk about attendee data, there’s a variety of things your sponsors might be interested in. Feed your sponsors with the right event data and provide information on:
- Demographics: Age, gender, location/ proximity to event
- Industries: Brands need to know if the industries they market to will be present
- Jobs: Industry, job title, salary
But there's more to it. Why would your potential sponsors invest in your event? You need to be able to provide concrete numbers about the event marketing success.
Here are some relevant metrics your clients might ask for:
- Event website traffic: The visitor traffic on your website is a key metric for your marketing impact. To find out whether the content is targeted enough and perceived as valuable, you can check the time spent on the pages. Google Analytics is a great tool to measure the effectiveness of your event website.
- Website & e-mail conversions: Do people click on your call-to-action links and buttons? Whether it’s a request for information or the link to the event registration form, you should be sure to measure conversions both from your website and e-mail campaigns in order to analyse and demonstrate marketing effectiveness.
- Social media statistics: Are you actively promoting the event on Social Media platforms? How many followers do you have and is there a visible engagement?
- Ticket sales: How many tickets have you sold through the website?
Now we’re talking business!
In our digital and data-driven world, KPIs and metrics play a vital role.
Make sure you
- know what your sponsors expect
- deliver relevant event data to demonstrate the Return on Investment they will get as precisely as possible
What’s your secret to sponsorship sales success? I’d be interested to hear your thoughts on this topic.