For too long, associations and sponsors have been stuck in the position of needing each other to survive while discontent with the value they receive from each other. It’s like a bad marriage, write Bruce Rosenthal, principal at Bruce Rosenthal Associates, LLC, and Chris Gloede, chief consultant at Ricochet Advice, in their new white paper, The New Sponsorship Model for Virtual Events.
But this year’s COVID-19 pandemic and the resulting shutdown of in-person events has forced both parties to reconsider their investments in association events. It’s a great time, the pair writes, to consider the opportunities this pause in action offers for resetting the relationship between sponsors and associations. Events represent a significant revenue source for associations as well as an important way for companies to start and nurture profitable customer relationships.
The New Sponsorship Model for Virtual Events is a forward-looking piece whose purpose is “to inspire associations and sponsors to think broadly about the new opportunities virtual events create.” Among the benefits to both associations and their sponsors are immediate attendee interaction, larger audiences, more data about attendee interests and interactions, and expanded content offerings than found at in-person events. Virtual events, write Rosenthal and Gloede, can offer sponsors the visibility and positioning that has been lacking from in-person events.
They provide a hypothetical “Mega Conference” sponsorship package that covers all the means through which associations can integrate sponsors into their virtual conference or trade show in a meaningful, attendee-facing way. Readers can adopt and customize for their individual virtual events.
Download the full paper and sample sponsorship prospectus here.