Updated: Jun 15, 2020
Especially as we come out of COVID, event organisers and marketing managers looking for sponsorship more than ever need to be aware of what their sponsors receive in terms of profile and return on investment (ROI).
What do sponsors want?
If you want to take advantage of the many brands with increased interest in event or project sponsorship, you need to understand what they want to achieve from their investment. While funds are being allocated away from traditional advertising and marketing channels, it’s important to remember that those spending the money are still being held accountable to their management and Board where applicable.
To create competitive sponsorship packages that will be attractive to potential sponsors and provide them with the outcomes they’re looking to achieve, you’ll need to demonstrate how the sponsorship can help reach and engage their target audience/s and provide value.
What should you be offering sponsors?
Sponsor needs and expectations are constantly evolving. If you’re offering sponsorship packages that have been virtually identical year-on-year, your sponsors may be tired of the same routine offers, have started losing interest, or are even starting to pull out.
Whether you’re seeking to attract new sponsors or looking to hold onto your well-established high-value relationships, it may be time to redesign your sponsorships by offering a range of creative options that help sponsors achieve their own unique goals.
Sponsoring events allows brands to interact with their target audience in an authentic and engaging way, so your event or project sponsorship proposal needs to address the below needs of your sponsor.
Here are the top four reasons why organisations sponsor events or projects:
Emotional: Events and partnerships tap into topics, themes, and causes that consumers are passionate about
Immersive: Sponsors can make an impact on brand awareness through multiple touchpoints and components throughout the event or partnership
Interactive: Events and projects create an opportunity for dialogue between brands and consumers in new ways
Relevant: Consumers are at events because they choose to be there and are looking to gain from their experience. Seeing a brand at an event can make them feel aligned with a brand they hadn’t considered before.
So, in this post covid environment your sponsorship offerings need to be tailored to align with your sponsors individual needs and objectives with bespoke proposals offering true return on their investment with you.
Interested in getting the most from your sponsorships and relationships?
Contact us at firstname.lastname@example.org to see how we can help you audit, budget and evaluate your current sponsorship activity and explore new connections for growth.