Event sponsorship strategy
Did you know that event sponsorship is one of the proven best strategy if you really want to get your brand to reach your target audience. Many research have shown that it will definitely give you the exposure you need and sometimes will even exceed your expectation, but only if you do it correctly. They call it a hit or a miss.
Use this article as a guide to how you can make sure that you will be sponsoring the right event with the right target audience in order to achieve the outcome you deserve based on your objectives and budgets.
Just because there are so many events out there, you have to make sure that you have done your research to be sponsoring the right event to see the outcome you want from it. Just choosing random events to sponsor will not bring you the exposure you need because they might not be your ideal target.
The hard work will be on both you and your sponsee because your sponsee will have to be very careful when they write the proposal for you to sponsor their event. They will try to make it link to you. Your job is to ensure that those information will be accurate and precise when it comes to any details they have given you.
Align your goals with quality rather than quantity; think about if you were sponsoring an event with over one thousand people but they aren’t your consumers in comparison to sponsoring an event with 500 and that are your consumers. You will benefit more from sponsoring 500 people who are ideal potential customers than to sponsoring 1000 that are not.
TYPES OF EVENT SPONSORSHIPS
This is where you give money in exchange for what you want in order to meet your objectives. As a sponsor, you will need to have an objective that states all the goals you would like the event to meet.
You may be funding an advertisement for the event in exchange for your company logo to be displayed at the event. When it comes to media, it can even be paying for the event to be filmed or broadcasted.
Your company will be providing support with equipments needed at the event with your company’s logo on it so they know that you are the sponsor. You should also provide an outstanding experience to your potential customers at the event to make a good impression on your brand. This is your chance to make it something they will remember for a while and can call back a good memory on it.
Anything can be classed as a sponsorship when two parties provide something in exchange for something for as long as two agrees to for each other’s different benefits. Usually it would be to provide missing aids to other party.
What do you need to research?
► You need to know the target audience of the event
► Where will their event be advertised and forms it will be advertised in
► If the location is also geographically where you want to be targeting
► The cost of the project against your objectives
► Research previous results from the previous sponsors to create a comparison
► Make sure that the event’s vibe match the vibe that you want your brand to come off as to your audience
► Research how the event was operated previously and if you will like the strategy of how it will be operated
► Know exactly what you are paying for within this sponsorship because it is an investment from your brand
What can you control?
► Ask the sponsee to provide all the information you require to answer all the questions you have in mind. This is your brand making an investment so you can control what information you deserve to know.
► Dig deep into the detail if you can because you will be able to work out whether or not this event is going to help you hit your goals.
► How your brand can add meaningful experiences to the audience at the event so it will be remembered and talked about many years to come. Make it the one to remember in a positive light.
What do you need to have in mind?
► Remember if you already have an objective for your goals shared publicly, some will craft the information to provide to you to suit your needs. This is why a research is very important.
► Relationships aside, goals ahead. If the event align with your goals, having a relationship is also a bonus. Do not let the relationship talk you into being a sponsor because that will not help you meet your goals.
What can your company do to make it even better?
► Show a demo of your products to your ideal consumers.
► Tell your story through your products.
► Collect email addresses and followings on social media.
► Freebies so they get a taste of your product.
Are you looking for a solution to help you manage your sponsorship projects?