Event sponsorship is the method of advertising a brand by sponsoring or supporting an event financially in exchange for brand awareness to highly engaged attendees. Several companies are now relocating their advertising budget for event sponsorship, to connect with their customers in a personal way. Hosting a virtual event is not as easy as it sounds on paper. It is a complex and costly process and successful brands host virtual events by creating an expert event sponsorship package.
Questions your event sponsors will ask you before the partnership:
While hosting your brand’s virtual event your sponsor would want to see value in your offering and understand your product completely. Sponsors will ask a series of questions before they offer you the opportunity of getting your brand in front of your potential customers on a hybrid event platform.
1. What is the visibility that we get at the event?
The sponsor will not be interested in your event if they are not clear on the quantum of visibility that they will get at your event. Thus, you have to think from the perspective of your sponsor and craft every single element in your sponsorship package with utmost caution.
2. How best do you describe your event?
Copying event descriptions from the event profile is a major turn-off for sponsors. Also, some event organizers make the mistake of having descriptions in only a few lines. Sponsorship is B2B and without such clarity in information, the sponsors will not get trust in the partnership.
3. What are the demographics that you cover?
Sponsors are business people who are looking to generate a solid ROI through sponsorships. They want to bring their service to their audience and a seasoned Virtual platform like Virtex understands this pretty well. It makes sure that it matches its demographics with the exact target group of the sponsors to make the sponsor negotiation process easier.
4. What role do we play in the event?
Sponsors wish to see themselves as an added value for the event. Experienced organizers come up with compelling proposals that include the sponsors in the event so that they get to add value to the event. Virtex, the best virtual platform in India, involves the sponsors early in the event planning process, to give them their space.
5. Do we get access to the audience?
Sponsors will be anxious to make the best out of the package. Whether to give them direct access to the audience or not should be decided carefully. There is however networking software available to facilitate connections between the attendees and the sponsors.
6. What is the cost of the sponsorship?
Sponsors will be worried about the budget and if the event doesn’t fall within their budget, they are not likely to sponsor it. Event organizers can help keep other costs such as travel, accommodation costs, employee expenses, event tickets, etc., at the lower end to compensate.
Though the right event partnerships have tremendous potential to attain great customer reach, it doesn’t happen just like that on a blue moon day. Your sponsors will ask questions and get their stance cleared and will not be ready to sponsor until they are thoroughly interested in your virtual event. Event organizers like Virtex, the best online event platform in India can help you navigate through the sponsorship partnership by planning, promoting, and bringing up the best event sponsorship packages.