Despite not being able to mingle in person, virtual events do offer some visible sponsorship perks. It's relevant to share that we subscribe to the philosophy that sponsors are effectively partners and the best corporate relationships are forged with meaningful values enveloped into the community. While creating event sponsorship packages and sourcing for potential sponsors remain a vital part of event planning, these pursuits wouldn't differ that much compared to hosting a virtual event with sponsors. However, special considerations will still be needed in creating meaningful sponsorship value when transiting to a virtual event.
In this post, we’ll walk you through everything you need to know about enhancing sponsorship value in virtual events. While this may be a huge shift from how you originally intended to execute it, sponsorships in virtual event can still reap in great success stories. At the end of this post, you will attain an understanding on how to acquire sponsorship value.
1. Identify Sponsor Objectives: Envision your sponsor needs. What do they hope to achieve? If you're uncertain, schedule meetings with potential sponsors and understand their sponsorship goals and the intention of joining onboard. Sponsorship ROI is attached to brand awareness and direct audience conversion, but these goals may vary among companies.
2. Define Sponsorship Models & Customisation Package: Create tier levels with attractive package names. Some commonly used titles are Gold, Silver and Exhibitor. These traditional options are often, very popular because of the convenience of selecting a variety of features that are already pre packed in the different sponsorship. models. A La Carte customised packages are commonly used to serve sponsors who are looking for exclusive needs, expect flexibility in customising a la carte packages for them.
3. Determine the Sponsor Offerings for Each Tier: Next, determine how many packages you need to sell in order to achieve your event revenue goals. With limited quantity, the possibilities of you changing the sponsorship package increases, due to its exclusivity. This will also attract potential sponsors to commit at an earlier stage, which will help you in charting forecasts with the estimate revenue.
Sponsorship is a key driver in marketing and a part of it is about proving impact. The data you get during the event can provide the sponsorship value, mainly what the sponsors have reaped for sponsoring the event. Use the analytics capability to measure their ROI impact.
There are multiple ways to include sponsorship value in your virtual event experience. Use some of these tips to enhance sponsorship value and show your sponsors how valuable a virtual event can be.
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