Events are amazing opportunities to get your brand in front of potential customers. Finding and securing the right events to sponsor can make the difference between strategic marketing success and failure.
In this article, we’re covering some of the basics of event sponsorship – definition, benefits, types of packages and key assessments to help you identify the right event partnerships, avoid the unfortunate brand mismatch and achieve exceptional business outcomes.
Event Sponsorship is a way of advertising your brand by “sponsoring” or supporting an event financially in exchange for brand exposure to highly engaged attendees.
1. It’s personal.
Nowadays, a growing number of companies are reallocating their advertising budget towards event sponsorship to connect with prospects and customers in a more personal way.
2. It’s cost-efficient.
For a relatively minor financial outlay, the right event partnerships have great potential for customer reach, influence and engagement which means more bang for your buck compared to traditional forms of advertising.
3. It’s seamless.
The right event partnership can seamlessly integrate your brand message into the event’s theme and content. Your message is delivered in a harmonious way, unlike ads that are sometimes annoying and intrusive.
What makes an Event Sponsorship valuable?
Brands can gain tremendous opportunities from strategic event sponsorships. Here are some of the benefits that you as a sponsor can enjoy for supporting an amazing event –
1. Brand Interaction
Aside from the visibility and awareness, events are an opportunity for brands to directly interact with prospects or current customers. It lets you connect with your audience in a meaningful way.
2. Attendee Data
The database of highly qualified prospects from the attendee list is worth its weight in gold. Events are a terrific platform for advancing your brand message and staying connected with your fresh targets.
3. Media Exposure
High-profile events featuring VIP attendees and speakers get ample media coverage. Sponsoring such events can give your brand free media exposure.
4. Direct Engagement
Small events are not to be dismissed. As a sponsor, your brand will likely get better quality engagements with a niche group of prospects.
5. Brand prestige
Industry influencers, top executives, VIPs attending or speaking at events have interests that may align with your business. Sponsoring the right events will open doors for lucrative opportunities and lend some level of brand prestige by association.
What are the types of Events Sponsorship Packages?
The type of packages available vary greatly from event to event depending on a number of factors including venue size and venue type, type of event (for example an exhibition vs a networking lunch), and the on-the-day agenda and how many breaks there will be. You’ll often find event organisers are incredibly flexible when it comes to putting together a package that suits your needs and goals for the day, but here are some examples to help you get started:
1. Sponsored Installations
High-impact visual installations that promote your brand can draw and engage event attendees and capture an Instagrammable moment.
2. Sponsored Digital Experiences
Events can deliver the full suite of branded digital experiences from web pages and social shares to video live streams and virtual reality tours.
3. Sponsored Lounges
Dress up a corner at the venue with your brand where attendees can relax and casually mix, enjoy free wi-fi and re-charge their devices.
4. Sponsored Food and Drink
From logos on edibles and drinks to fresh meals in pop-up restaurants, attendees love any kind of brand activation around food at events.
5. Sponsored Sessions
Sponsored speaker sessions, 1-1 consults, panel discussions are the best ways of engaging and connecting with attendees. It also raises a brand’s reputation as an industry thought-leader.
What do you need to know before becoming an Event Sponsor?
To be strategic with your choice of events to sponsor and get the most value out of your investment, here are a few important questions you need to cover with the event organiser –
1. Event Theme and Content
Assess the following event information to check for relevance with your brand objectives.
- What is the event about? When and where?
- What is the vision, inspiration and purpose of the event?
- What subjects will the event cover?
- Who are the key personalities featured at the event?
- What are the unique highlights and features that will set it apart from other events?
- Who should attend?
- What are the key benefits of attending?
2. Event Success Metrics
Ask for the following event data to assess how an organiser’s events performed in the past:
- The total number of attendees at the event vs registrants
- The number of leads and/or meetings each sponsor received
- The number of attendees for sponsored sessions or workshops
- The number of in-app impressions (mobile event app)
- The number of social media impressions on the days leading up to, during and after the event
- Attendee testimonials and reviews
- Sponsor testimonials and reviews
3. Attendee Profile
Check for the attendee profile of the event to assess how they match with your target market.
- What are the demographics? – occupation, socio-economic status, age, gender, etc.
- What are their key interests and aspirations?
- What industries, affiliations, etc. are being represented by the attendees?
4. Sponsor Package
Here are a few basic points for determining the value of the event sponsorship package and compare these with what you would normally spend on traditional advertising.
- Cost of the physical brand exposure
- Cost of the online brand exposure including reach and frequency
- The estimated number of audiences that will be exposed to your brand
- The estimated cost of customer impacts – event features like sessions, announcements, demonstrations, video showcase, moments at the event where attendees are confronted with your brand message
- The estimated cost of media exposure that the event sponsors will receive
The Bottom-line
The right event partnerships can bring massive gains for your brand, for example – the positive energy and excitement around events conditions prospects into exploring what you’re selling. Aside from highly engaged leads, events also provide invaluable audience insight that you couldn’t get from traditional forms of advertising.
Your partnership with The Leadership Institute positions your business right in front of Australia’s most important decision makers.
Contact Josh Hooper for bespoke sponsorship opportunities 02 8806 0524 or 0412 049 750 or email josh@theleadershipinstitute.com.au
