Event sponsorships are an integral part of event coordination and planning. Getting sponsors for your event maximizes marketing opportunities, increases your event’s visibility, and cuts costs effectively. For businesses that are attempting to host an event that achieves a positive return on investment, sponsorships can be a prime source of funding.
The relationship between event planners and sponsors is supposed to be mutualistic, meaning that both parties benefit from the interaction. In exchange for monetary support, sponsors will expect an event to increase their brand exposure. By agreeing to a sponsorship proposal, you are essentially allowing your event to become a marketing tool for your sponsors.
Understanding the mutual benefits that sponsorships can provide is especially important in modern times because many companies are struggling to find sponsors for online events. Because virtual events are so new, it can be hard to find innovative ways to properly market your partners in a way that satisfies the relationship you have with sponsors.
As most people know by now, virtual events are more popular than ever- and they likely aren’t going away anytime soon. This means that it’s important to develop new and improved ways to entice sponsors into funding your digital experiences.
Here are a few tips we have for planners who are struggling to showcase their sponsors effectively:
- Communicate with your sponsors. By finding out what your sponsors expect from the partnership exactly, you are decreasing the potential of miscommunication. Figure out if they want branded backgrounds, social media links, or something entirely different.
- Encourage attendee interaction. Allow sponsors to ask relevant questions through polls during your event or create branded networking rooms where your audience members can join in between meetings.
- Explore creative options. Not all marketing ventures are created equal. If you analyze the effectiveness of a brand logo plastered across a webpage versus a fully integrated sponsorship booth, there’s bound to be a big difference. Check out this blog to get more information on Jumbo’s sponsor booths.
Finding virtual sponsorships can also be difficult for companies that are new and upcoming. For smaller businesses, sponsors can make all the difference when it comes to hosting an event. For those with a smaller budget, social media is one of the best ways to market your event effectively. Similarly, social media is also a great way to attract sponsors.
Here’s how social media can be a huge help in finding sponsors for your upcoming event:
- Run paid ad campaigns. Although running ad campaigns on social media can get a little pricey, the return you receive is often worth it ten-fold. Not only will these advertisements contribute to your event’s overall marketing strategy, but they can also be a great way to extend your reach and entice new sponsors.
- Reach out to companies directly. If you see another business or company that is relevant to your own business, it might be a good idea to send a private message asking if they want to sponsor your upcoming event. This kind of interaction has the potential to create a unique, beneficial partnership between your company and the other.
- Post in sponsorship groups. Many social media sites like Facebook and Instagram offer pages that are dedicated to showcasing companies that are looking for events to sponsor. In the same way that your business needs sponsors, some companies need new marketing opportunities.
- Utilize modern tools. Online applications like SponsorMyEvent are made to make the sponsorship process seamless and easy. This tool allows both event organizers and event sponsors to find one another on one platform.
Not only do sponsorships offer a huge benefit by helping fund your event, but they also add credibility and interest to your own company. If someone recognizes your sponsors as a business that they regularly buy from and enjoy, they’re likely going to start associating your company with the one they already have a positive relationship with.
Sponsorships increase your public image and establish your company as one that can be trusted by consumers. This level of prestige is something that can really only be solidified through time and experience, but sponsors held streamline that process. Having another company sponsor your event essentially shows attendees that those sponsors are backing your company.
Sponsors are invaluable resources for all types of events- both in-person and online. At Jumbo, we know how important it is to maintain a positive relationship with event sponsors. In this, we always ensure that your sponsors are showcased in a way that is creative, good-looking, and unique.