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Sponsors can almost make or break your event, at least financially. The lack of extra income may lead to hard calls over investments. With limited cash in the bank, it’s hard to realise your vision.
But why settle for a sub-par venue or keynote when you could let your sponsors (inadvertently) pay for it? The trick is to put your saleable assets into groups and price them accordingly.
For instance, we all know about the value of exhibition stands. However, less is known of the amounts that advertisers will pay to have their name on a social media post or a wi-fi connection.
Rather than focus on one asset, you should be selling multiple through the creation of event sponsorship packages. Using the example of an exhibition stand at a small conference, this could work as follows:
Tier-1 sponsor (£6,000)
Includes:
- Large stand in a prime position.
- Logo on app, delegate guide or printed brochure.
- Opportunity to put name on drinks reception at the start of conference.
- Sponsorship of main stage.
- 5x free tickets to event.
Tier-2 sponsor (£4,000)
- Medium-sized stand in a good position.
- Logo on app, delegate guide or printed brochure.
- Sponsorship of workshop area.
- 3x free tickets to event.
Tier-3 sponsor (£2,000)
- Small stand between other sponsors.
- Logo on app, delegate guide or printed brochure.
- 2x free tickets to event.
Each amount is hypothetical, but can you see how we gradually strip out elements according to the price? A tiered structure keeps your doors open to companies of all sizes, budgets and ambitions.
When it comes to creating your event sponsorship packages, remember these five tips:
Stay focused on the main contents
Event sponsorship packages should consist of multiple elements. That said, it’s important to build everything around your single biggest offering.
Let’s imagine I’m buying a car. The salesperson is likely to try and tempt me with free mats, warranties and tyre replacements, but nothing is going to beat finding a good vehicle to drive.
It’s the same with our exhibitor example. Though I’m presented with a list of opportunities from the event sponsorship packages, nothing is more important than the stand. Appreciate what your audience really wants and build from there.
Choose white-label technology
Don’t make the mistake of using an event management solution that cannot mould itself around your specific event. For example, not all solutions will be able to show a sponsor’s logo when attendees open the official event app. Thus, not all events will be able to generate income from this opportunity.
Your ideal partner should have the necessary experience to highlight popular areas of your website and app. From there, you can decide which event sponsorship packages need to include promotion via these channels.
Another feature worth mentioning is push notifications, which sees you broadcasting a sponsor’s message to all users of the event app. An example might look a bit like this:
“Good morning attendees. Don’t forget to visit GreatTech at stand 1.01 for a free coffee and a demonstration of their award-winning platform.”
It’s a simple action but one that is definitely worth performing.
Consider the pre-event build-up
Another big mistake is in trying to condense every single opportunity within the event itself. In the months and weeks before things get underway, you should be engaging your attendees through the wonders of online media.
By maintaining a steady output across your social accounts, blog and any other formats (e.g. webinars, podcasts, videos) you can start to build your following. And when we say ‘following’, we also mean a set of potential clients or customers for your sponsors to address.
Web Summit is an example of what can be done with a strong online presence. At the time of writing, its Twitter account has over 112,000 followers, and what tech company wouldn’t jump at the chance of bringing a message out to these people?
Your event sponsorship packages should include social media pushes, sponsored articles, interviews on podcasts and anything else that creates value away from the event itself.
Don’t forget your data
If you have an event app then you also have a way of collecting data on all the people using it. One way of tying this into a sponsorship arrangement is to give attendees the choice of receiving communications from selected partners.
If you present an opt-in box to everyone that downloads the app (e.g. “tick to sign-up to the GreatTech newsletter”), you could be handing thousands of potential leads to a sponsor. This gives them a much better chance of securing a return from their investment.
Be flexible
Event sponsorship packages give companies a clear indication of what they can expect from their money. Pay X, receive Y. But what if you’re two weeks from the event and have space on the exhibition floor? Do you lower your prices to get the final few sales over the line? The quick answer is – categorically – no.
The use of public discounts will anger those who backed your event from the start and paid more for the privilege. While it is possible to get away with a few cut-price deals, we’d advise looking for new opportunities that can be added to your existing event sponsorship packages.
Small but effective touches, like a company’s logo on a busy coffee station, can give someone more of a reason to sign-up and pledge their support.
Need further advice on securing investment for your event? Head to our blog: “How to Approach Event Sponsors – A Simple Guide”.