Does the thought of landing sponsors and increasing sponsorship sales make you feel like a contestant from Shark Tank? The whole process may seem like a very daunting and stressful task, so here is a list of a few things you could do to up your sponsorship revenue to help get you started.
Target Sponsors with a common target audience
Do your research and shortlist companies that share a similar target audience as your company. You can do this by looking at a few of their past projects and going through their websites and social media. Make sure to also know your own audience inside out, as this will help you make the right decisions. This similarity will be one of the convincing factors when you pitch to the sponsors.
*Tip: You can also give potential sponsors added incentive to invest in your event and company by giving them extra perks, such as exclusive conference services, booths.
*Tip: You can also give potential sponsors added incentive to invest in your event and company by giving them extra perks, such as exclusive conference services, booths.
Sponsorship for virtual events - Altered Deals
Every company looks out for different qualities in a sponsorship proposal. Hence, pitching the same proposal to every single company does not make sense. Think along the lines of what that particular company will find most valuable in your own, so that you can put your best foot forward.
At ibentos, using our ROI-driven Virtual Event technology, we offer multiple customized sponsorship packages to suit the needs and requirements of the sponsor. Depending on the package, we offer booths, preferential logo placement and exclusive access at the event.
Reach out to Sponsors of similar events
Reach out to the sponsors of events and companies similar to your own. This process will help you to bring down your list consisting of about 500 odd companies to probably around 50 and let us face it..pitching to 500 companies is not a very attractive scenario. You should also look at companies that are more likely to continue providing long-time funding in the same industry. When you do so, it will facilitate a long-term network and building of trust along the way.
Repeat Sponsors for Virtual Event
If a particular company has sponsored you in the past, and the experience has been great and successful for both parties, there is no hard-and-fast rule that you cannot reach out to them again if it makes sense this time around too. This also works out excellently since you would have already had a lot of details worked out, along with being used to the working patterns, due to past experience of working together.
Pioneering in Virtual Event Technology, ibentos is known to have strong client and sponsor retention. Be it virtual B2B exhibitions, job fairs, education fairs or conferences, we as your “Virtual Event Partners” do our best to cater to your vision and meet your expectations for your virtual event.
Pioneering in Virtual Event Technology, ibentos is known to have strong client and sponsor retention. Be it virtual B2B exhibitions, job fairs, education fairs or conferences, we as your “Virtual Event Partners” do our best to cater to your vision and meet your expectations for your virtual event.
Fulfillment Records
Provide fulfillment records of your past events to encourage more sponsorship for virtual events, or even old ones if you are reapproaching them.
*Tip: Keep track of participation, sales, etc not just while your event is going on, but also certain factors pre and post event, like the number of participants that registered and attended, the number of people that visited the site pre and post event, amongst many others. This will give an accurate measure of your event’s success.
Sell to a Range of Sponsors
Seems contradictory to the previous points? Well, not really. An interesting tactic is to approach second- and third-tier companies that you feel show promise in becoming top-tier companies in the future. This will not only expand your network, but also increase the chances of higher sponsorship sales in your next event.
Prepare well for your pitch
Research and be thorough in understanding why you think they should invest in your event. Keeping your presentation ready is the most appropriate way to communicate your pitch. This presentation makes you a professional and leaves a lasting impression.
Contribute with your own Value
It is advisable to not rely entirely on your sponsor to add value to your event. Evaluate what you, as a company, can bring to the table. Evaluate your company’s standing and value and place that in front of the sponsor. This recognition of value will be very useful in case your sponsor has a tight budget.
In such a situation, a sponsor is less likely to cut ties with a high-value company than a lower one.
There are countless advantages to gain from sponsorship for virtual events, funding being just one of them.
You gain access to their own audience and followers, which helps promote brand awareness and boost overall sales. It also contributes to a better brand image, depending on how reputed of a company the sponsor is. Hence, the bigger the brand, the harder it is to land them as a sponsor. In conclusion, keep these tips in mind and put yourself out there so that whether it is the Sharks on the other end of the table or a company executive, you should be just fine!
Want to execute an enriching virtual event for your audience, reach out to us now.