Successful Sponsorship Management

Event sponsorship is so much more than raising money to fund events. Why then, do so many event managers treat sponsors so poorly.

On the recent PCO Webinar on Sponsor Management we were discussing Successful Sponsorship Management and what it takes to get, keep and re-sign sponsors.

The secret to successful sponsorship management is all in the value. Showing the sponsor you value them, proving to them the value they get from the event and positioning the value for the same event next year.

The two common issues participants on the webinar were:
• Where do I get sponsors
• How do I prove the value to them

Where do I get Sponsors:
The easy sponsors are the key players in the industry and the suppliers to the industry of the event. But what if they aren’t willing to sponsor, what then…

To find a sponsor:
Simply ask, “Who wants access to the people at the event”

It doesn’t have to be an industry supplier. It maybe that your attendees are all in the demographic of home owners.
Mortgage brokers, banks or a life insurance company may want access to your delegates.

What you have of value is your delegates. By asking “who wants access to them” you will discover your target list of potential sponsors.

How do I prove value to the Sponsor:
Your role of sponsor manager is all about education. Mainly because most sponsors will think they are brilliant at exhibiting and don’t need any help. After sitting at their booth all day on their phone and laptop they then start complaining to you about how “This has been a waste of money.”

Proving value to the sponsor will involved getting them to understand some of their marketing basics. Ideas like; cost per lead, cost per acquisition, and lifetime value of a customer become very important.

After educating one of my event sponsors, I showed him how the work we had done had given him a 533% increased in qualified leads. This represented an extra $150,000 in sales over the next 12 months. As you would expect, he signed up again for the following year straight away. Proving the value sealed the deal.

The Future of Sponsorship
Our sponsors are being more particular with their money. Where they may have bought the gold package in the past, they now only want silver.
A logo on a screen is no longer enough for them.

We have to be smart in positioning the value of sponsorship. We have to hold our sponsors hand and help them get more value from the event. We have to work at this smarter and not harder. We have to commit to our sponsor and work with them to ensure they are successful.