When it comes to sponsoring an event, every sponsor is after the same thing—a return on their investment. How a sponsor determines whether their investment was worthwhile varies, but there are a few key areas to focus.
The first and foremost is the quantity of leads. The second is the ability to qualify those leads. As an event planner, if you can deliver these two things to your sponsors, they will feel that their investment was worth it.
Here’s how you can get started:
One of the greatest strengths of virtual events is their ability to reach a broader audience and turn local events into global ones. Without the travel and time requirements of in-person events, virtual events can attract a larger base of attendees that are willing and able to participate.
This offers your sponsors access to that same expanded audience. But this comes with challenges, too. Just because your virtual event doubles your audience’s reach, doesn’t mean that your sponsors will get double the leads.
To understand why, think about in-person events and sponsors on the trade floor. If sponsors never leave their 8x10 booth, put that booth in a dark corner, and don’t do a giveaway, they’re not going to get any leads. The same is true at virtual events. Planners need to retrain sponsors to be proactive, to participate in the virtual event, reach out to attendees, and provide helpful content in session chats. It comes down on the sponsors to take these actions, but planners should provide as many opportunities for them to do so, and pester them if they take the “wait for the world to come to me” approach.
Sponsors should get any data regarding a lead’s actions at their virtual booth. For example, what content did they download? How long were they at the booth? How many times did they come visit your booth? What messages did they post in the booth? Beyond the booth, sponsors will want to know: how many meetings did they have with people from your company, what experts did they meet with, what track were they in, and what sessions did they attend?
All of this can be bundled up into a report and real-time dashboards that can provide your sponsors with insight into their hottest leads and who they should reach out to. This data will help them warm those leads and start their outreach further down the sales cycle. Rather than the standard “do you have 15 minutes for me to sell to you?” pitches, they can now say: “Hey, I see you attended this session as well. I’ve been in the industry for 20 years and would love to talk about some best practices they discussed.” By providing sponsors with a strong foundation to make the most of your virtual event and the reporting to take their outreach to the next level, you can provide an ROI similar or even greater than in-person events.
Interested in creating these types of sponsor opportunities to drive sponsor value? At Hubb, we’ve built a virtual platform and a team of event veterans to help you.
— Allie Magyar, Founder and CEO, Hubb