For example, Bizzabo recently launched our partner and speaker management solution which makes it easier than ever to manage your sponsors. To really kick your event sponsorship efforts into high gear, you need to offer different sponsorship packages. Providing value to sponsors, especially in the virtual domain, is a challenge among event planners.
Here are five tips to help you craft a sponsorship package that will stand out to your potential partners. When building sponsorship packages for your event, consider creating multiple tiers at least three of sponsorship, each equipped with different benefits and sold at varying price points.
For instance:. The more money an organization pays, the more benefits they receive. You can also create different packages for companies as opposed to individuals, give discounts when multiple tickets are purchased at once, and more. Take a look at how Gainsight offered sponsorship tiers at Pulse for Product This is a great example of utilizing the aforementioned package levels. There are many different ways to add value to your sponsorship packages.
But to really supercharge your packages and entice organizations to spring for more expensive sponsorship options, you need to create unique opportunities.
A huge hit. So we looked at giving away Grubhub vouchers. The key is to be creative and think about ways you can differentiate from other offerings sponsors might be seeing. Your event sponsorship packages will only sell if potential sponsors understand exactly what they will receive once they make a purchase. Clarity is absolutely your friend here. Spell out every package benefit, perk, and requirement in crystal clear language.
This is especially true when selling sponsorships for large sums of money. This example from SaaStr tells sponsors exactly what they can expect and how much it will cost. Want to sell high-end packages like SaaStr? Make use of exclusivity. On the surface, this may sound counterintuitive. If 10 people want to pay SaaStr over a million dollars to sponsor the event, why would they only accept 6 of them?
SaaStr and other companies that offer high-end sponsorship packages can only provide adequate value to so many sponsors. If they were to let more companies participate, the value of the package would go down.
Second, exclusivity breeds desire. Making your top sponsorship packages exclusive will increase the chances of people wanting to buy them. Finally, to increase the likelihood that companies will want to sponsor your event, we recommend that you make the event sponsor web pages on your event website enticing and vibrant. Sponsors care about how their brand is represented.
As Billboard reports, Hilton Hotels and Live Nation successfully concluded a five-year sponsorship deal, where Hilton offered reduced rates for artists and staff under Live Nation's umbrella, and Live Nation drove concert-goers to Hilton hotels by advertising on its website.
This is an excellent example of a mutual sponsorship in kind. Drive sales: Sponsorship is an easy way to introduce consumers to a product in a way that encourages them to make a purchase.
A food company might offer free samples at a trade show, for example, at the same place where they can buy the full-price product. Sponsored content on a blog site might provide a discount voucher and a link to the sponsor's online jewelry store. Reach more customers through word of mouth: Sponsorship encourages word-of-mouth marketing, which Social Media Today describes as "the most valuable source of marketing" because customers trust their friends. Word of mouth marketing has a snowball effect; one person who has a positive interaction with your brand tells another, and that person tells another, making it a great vehicle for mass exposure.
We see this most clearly on social media, where consumers follow influencers to get their opinions and reviews on products and brands. Advertisers can sponsor influencers to promote new product launches and special offers, getting their product before a ready-built and engaged online audience. Generate media buzz : For a small business, getting media mentions is tough and out of financial reach. However, if you sponsor an event or a trade show, you can tap into the media coverage for the event.
If your logo is tied to the event branding, it will appear in all the photographs. Sponsorship is complex; it is not merely providing financial support because someone has a good cause.
Customers will assume your business is reliable and reputable if you can sponsor other organizations. In a survey, the Event Marketing Institute found that 74 percent of consumers are more likely to buy products after exposure to a branded event marketing experience. Use the clout you earn as a sponsor to grow your reputation in your community. Think about the amount of time you normally spend hunting for 10 qualified leads.
How about 20, 50, or ? Not only do events bring you a host of compatible customers, but they also show the human side of your business. Forming an emotional connection is half the battle of building brand loyalty. By attending in person, you can learn about customers, promote your products, and build a mailing list. Event holders typically provide data about attendees or attendance rates in advance.
Do your research well, and you can plan a strategy for meeting as many people as possible. Along with leads, consumer events allow you to rack up sales on the spot.
Picture a restaurant that sponsors a local music venue or sports team. Setting up a branded booth to feed hungry fans is an easy way to get new business.
Many companies make the bulk of their purchases at trade shows, and you can quickly earn their respect as a sponsor. If sales are your top priority, choose an event with high foot traffic and few direct competitors.
For bigger events, you can often pay more for category exclusivity. Strengthening your business image is one of the most valuable benefits of event sponsorship. Customers love brands that care about spreading positive messages and helping the community.
Linking your business to a worthy cause can draw lasting support and media attention. Many municipalities have addressed their funding issues by selling naming rights for parks and buildings, train stations and more.
The real key is to find an organic linkage. One that makes sense to the public. Initially most sponsorships were endemic, like tires and tools for race teams. But as time has gone on the industry has learned that certain fans have loyalty to sponsors of the sport, community or cause that they care about.
In my experience the real key to success with sponsorship is finding the insights that connect consumers and businesses. The time, the place, the feeling that connects them and creates preference, recognition, learning and buying.
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