Event sponsorships are the lifeblood of successful events. They provide the necessary funding, resources, and brand exposure that can elevate an event from mediocre to extraordinary. However, securing and managing event sponsors is no easy feat. It requires a strategic approach, strong relationships, and a keen understanding of what sponsors are looking for in return for their investment. In this post, we'll explore seven actionable steps you can take to supercharge your event sponsorship strategy and create win-win partnerships that drive results.

Develop a Targeted Event Sponsorship Strategy

The first step in any successful event sponsorship campaign is to develop a targeted strategy. This involves identifying your event's unique value proposition and defining your ideal sponsor profile. What makes your event stand out from the rest? What kind of sponsors are most likely to benefit from partnering with you? Once you have a clear understanding of your event's strengths and target sponsors, you can create tiered event sponsor packages that offer a range of benefits and price points.

Some key elements to consider when developing your sponsorship strategy include:

• Aligning sponsor benefits with your event's goals and audience
• Offering exclusive sponsorship opportunities for high-value partners
• Creating custom activation ideas that showcase sponsors' products or services
• Providing clear metrics and reporting to demonstrate ROI

Foster Strong Event Sponsor Relationships

Building and maintaining strong relationships with your event sponsors is crucial to long-term success. This means going beyond just selling sponsorship packages and instead focusing on creating genuine partnerships that benefit both parties. Communicate regularly with your sponsors, provide personalized attention and support, and share event sponsorship trends and insights that can help them get the most out of their investment.

Some ways to foster strong sponsor relationships include:

• Scheduling regular check-ins and progress updates
• Being responsive to sponsors' needs and concerns
• Providing opportunities for sponsors to connect with attendees and each other
• Thanking sponsors publicly and privately for their support

Implement Creative Sponsor Activation Ideas

To truly stand out and deliver value to your sponsors, you need to think beyond the traditional logo placement and signage. Get creative with your sponsor activation ideas and look for ways to integrate sponsors into the fabric of your event. This could include experiential marketing opportunities, digital and social media activations, or custom sponsorship packages that align with sponsors' specific goals and target audiences.

Some examples of creative sponsor activations include:

• Branded lounges or charging stations
• Sponsored educational sessions or keynote speakers
• Gamification and interactive contests
• Product demos and sampling opportunities

Measure and Demonstrate Sponsorship ROI Metrics

One of the biggest challenges in event sponsorship is proving the return on investment (ROI) for sponsors. It's not enough to simply say that your event was a success - you need to back it up with data and metrics that demonstrate the value sponsors received. Set clear sponsorship goals and objectives upfront, track key performance indicators (KPIs) throughout the event, and provide post-event reports and analytics that showcase the impact of sponsors' investments.

Some important sponsorship ROI metrics to track include:

• Brand awareness and reach
• Lead generation and sales conversions
• Social media engagement and mentions
• Attendee feedback and sentiment

Prioritize Event Sponsor Retention

Acquiring new sponsors is important, but retaining existing sponsors is even more crucial for long-term success. It's much easier (and cheaper) to keep a current sponsor happy than to constantly be chasing new ones. Prioritize sponsor retention by delivering exceptional experiences, gathering feedback and insights, and offering exclusive benefits and incentives for returning sponsors.

Some strategies for improving sponsor retention include:

• Providing early bird discounts or loyalty rewards
• Offering multi-event sponsorship packages
• Creating sponsor advisory boards or focus groups
• Sharing success stories and case studies from past events

Continuously Prospect for New Sponsors

While sponsor retention should be a top priority, it's also important to continuously prospect for new sponsors to keep your event fresh and diversified. Research and identify potential sponsors that align with your event's goals and audience, tailor your outreach and proposals to their specific needs and interests, and leverage networking and referrals to build new relationships.

Some tips for effective sponsor prospecting include:

• Attending industry events and conferences
• Leveraging social media and online directories
• Asking for introductions from current sponsors or partners
• Creating a compelling sponsorship deck or one-sheet

Streamline Your Event Sponsorship Strategy With ConferenceTap

Managing event sponsors can be a daunting task, but it doesn't have to be. With ConferenceTap's all-in-one event app and conference platform, you can streamline your sponsorship strategy and create unforgettable experiences for sponsors and attendees alike. From showcases, exclusive sponsor banners, and featured placement to sponsor-specific registration fields and ROI tracking, our platform has everything you need to drive your sponsorship game up a notch. Plus, with live video streaming for up to 15,000 participants, an intuitive attendee calendar, and intelligent networking, you'll be able to wow your sponsors at every step.

Ready to take your event sponsorships to the next level? Request a demo of ConferenceTap today and see how our powerful tools and features can help you create sponsorship magic.

FAQ (Frequently Asked Questions)

How do I find the right sponsors for my event?

To find the right sponsors for your event, start by identifying companies and brands that align with your event's goals, audience, and values. Research potential sponsors' marketing objectives and target demographics, and look for ways to create mutually beneficial partnerships. Leverage your network, attend industry events, and use online resources like social media and sponsor directories to connect with potential sponsors.

What should I include in a sponsorship package?

A compelling sponsorship package should include a range of benefits and opportunities that appeal to sponsors' specific needs and goals. Some common elements to include are logo placement and brand visibility, speaking opportunities, exhibit space, lead generation and attendee engagement, social media promotion, and post-event reporting and analytics. Be sure to offer tiered packages at different price points to accommodate sponsors' varying budgets and objectives.

How can I ensure a positive ROI for my sponsors?

To ensure a positive ROI for your sponsors, start by setting clear goals and metrics for success upfront. Work with sponsors to understand their specific objectives and create custom activation plans that align with those goals. Throughout the event, track key performance indicators like brand impressions, lead generation, and attendee engagement. Provide regular updates and reports to sponsors, and gather feedback and insights to continuously improve their experience. Finally, follow up after the event with a comprehensive post-event report that demonstrates the value and impact of their investment.