There are countless conferences and meetings in the world. The demand is apparently enormous. One of the questions, however, is how these events are financed. It is not profitable to organize an event and to pay for it completely from the participants' revenues or even by yourself. Therefore, it is extremely important to work together with sponsors and partners. Create a win-win situation! While it helps you to move into positive figures, your partner benefits by increasing his reach and brand awareness.
In order to reach this situation, the right sponsors and partners have to be approached. It won't help you to build a partnership that serves the monetary aspect but has no relation to the event.
Partnerships with sponsors are a fundamental factor for the success of an event. To find the right sponsor, extensive research is necessary, because not all companies can be considered as potential sponsors for your event. They must suit you, your image, but also your participants. For this reason, you should choose your sponsors as heterogeneous as your participants are. The right mix of sponsors depends on the following factors:
The consideration of these four factors gives you concrete information about your ideal sponsor.
It always makes sense to create so-called sponsoring packages before the first address. Create an exposé with different offers, which scope, services and prices are listed and staggered there. This way you present yourself professionally and prepared to your potential sponsor. Nevertheless, you should leave room for an individual contract in order to convey appreciation to your sponsor once again. Every sponsor has different preferences and therefore needs individual solutions. This could become a decisive USP to convince the partner.
''Be clear about your goal but be flexible about the process of achieving it.''
- Brian Tracy, Success Expert and Entrepreneur
Be aware of what you at least want to achieve but stay flexible in your approach and the final design of the sponsoring package.
Many organizers make the mistake that they only care about their own interests when looking for sponsors and ignore the goals of the sponsors completely. This way of thinking does not lead to long-term success.
Sponsoring is also based on the principle of supply and demand. If you want to convince sponsors, you have to be able to offer them something. It is very important that the company is shown incentive systems and perspectives for sponsoring.
This can be done by using the company logos on all flyers, brochures, roll-ups, t-shirts, tickets or similar. Furthermore, own flyers and information material can be provided to show visibility. Depending on the event, the sponsor can also be offered a presentation slot.
Mutual advertising is also in great demand. Various statements and quotes about the collaboration can be exchanged and published on the websites. A content partnership is also very common and is seen more and more often.
As already mentioned, you should also pay attention to the common target group when looking for sponsors. This can't just help you but extend the digital reach of your potential sponsor. This is also a very important component in the negotiations with the partner companies. The likelihood of cooperation is higher if the sponsoring company also benefits from your target group.
The relevance of the products or services for your customers is at least as important as the target group matching. Your offer only becomes interesting for the sponsor when a relevance of their offers is given to your target group. The added value is greatest when the demand for the product is highest at the moment of the event: e.g. beverage manufacturers at sporting events or consulting firms at a digitization conference.
In summary, the connection of the sponsors with the participants is an essential point in deciding for or against sponsorship.
As already indicated, there is a field of tension between the organizer, the partners, sponsors and speakers as well as the participants. All parties have individual wishes that have to be fulfilled.
It's all connected. The organizer must adapt his mindset to understand that the parties cannot be viewed individually. A speaker, partner or sponsor can only be convinced if the right and suitable participants appear at the event. Conversely, it is also important to win the right speakers and exhibitors in order to increase the added value for the participants. In order to master this challenge, different elements and methods have to be considered:
This point is extremely important, both for the participant and for the potential sponsor. A participant only visits a conference when he is convinced that the agenda promises him added value, be it in the topics, the people appearing, or the tools presented. Even a partner, sponsor or speaker only agrees when he, evaluated for himself, expects a first-class event. This reflects above all the agenda. The organizer tries to convince big players and well-known speakers right at the beginning in order to advertise with them in the following acquisition process.
One of the reasons for conferences is the exchange of experience and networking. Participants can broaden their horizons and mindset, discover solutions to their challenges and perhaps even discover new fields for their business. The exhibitor, partner and sponsor can of course present and promote their product or service much better at such networking events. There are different possibilities to create such networking spaces and to promote the exchange. There are also an enormous number of articles on the web that deal exactly with the formats in order to strengthen networking. Here are just a few examples:
To enable the participants to perceive the partner, sponsor or exhibitor, they have to be offered an area. A 08/15 arrangement á la ''10 bar tables in a row'' should be avoided. This is no fun for either the participant nor the exhibitor. Here it is important to stand out in favor of the partners and the participants. Try, for example, to provide a space in the coffee area that does not directly give the impression ''I want to sell you something''. Give the exhibitor an opportunity to design a lounge to create a comfortable atmosphere. There are countless possibilities to design an area differently than at any other conference. Small things make participants feel much more welcome and animate them to interact more openly with your partners.
In the age of digitization, where a new tool appears on the market every day and innovations are published, most people expect to use digital tools in every situation in life. This should not be missed in the event industry. The tools can help to connect your partners, sponsors and participants. Here it can be conventional event apps, which cover many elements of the event process. But it can also be tools which specifically target the connection of partners and sponsors with the participants. eventbaxx is a digital goodie bag which offers the partner and sponsor of your event the possibility to share their contents with the participant digitally.
If the right target group is provided with relevant content at the right time the probability of a conversion is 20% higher than with an ordinary newsletter.
Sponsor management is not an easy task. Many factors have to be considered and all involved parties have to be considered.