Sponsorships are a critical funding source for all sorts of events, from trade shows and music festivals to nonprofit galas. And savvy brand marketers know that event sponsorships can provide a unique and meaningful opportunity to connect with a target audience.
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If your plans were to bring brand awareness, increase your reach, engage with your audience, generate leads, and etc. you will need a strategy to guarantee success rather than just jumping into the water without any knowledge or knowing what the final outcome of the action plan will be.
So, how to do sponsorship management? Here are four key action items that are proven to help keep sponsorship a top priority for your event and organization:
1. Keep sponsorship a focus
The biggest reason organizations fall short in obtaining their sponsorship goals is having a lack of focus. They get busy in the day-to-day planning and the emphasis on sponsorship starts slipping through the cracks. If you keep yourself and your teams accountable to sponsorship goals you will meet or exceed them. If the sponsorship goal is vague, chances are you will not hit it. It is good that you should come up with a tangible goal that you can put on a whiteboard and keep top of mind.
2. Create easy-to-sell packages
Work with your event partners on easy to deploy products & services that can be used for sponsorship and create sponsorship packages that are easy to sell. Brainstorm about how content can be displayed or interacted with onsite. There are several AV and technology sponsorship options you can explore that will allow you to rotate the content in and out and yield you a better ROI than traditional print sponsorship.
Work with your partners to come up with easy to promote brochures and packages inclusive of these technologies and incorporate the brand awareness that your sponsors can benefit from.
3. Don’t overthink it
Less is more. There are many new cutting edge technologies out there, but in many cases, these are costly and you will need large corporations or a tier-one sponsor to fund them. If you deploy simple solutions that are effective and have a proven ROI, you are more likely to get widespread engagement from your desired sponsors. Work smarter, not harder on your sponsorship strategy and don’t overthink it!
4. Leverage your partners
Whether it is your AV & technology partner, your general services contractor or an experiential agency you work with, your partners are there to help you strategize effective solutions that will gain the attention of your desired event sponsors.
Your partners should be there to consult with you and come up with package options and marketing content to support these efforts. You should always expect this level of engagement & thought leadership from your partners, as these partners should ultimately be helping you drive revenue not just spend it.