{"id":4340,"date":"2015-05-22T09:42:28","date_gmt":"2015-05-22T13:42:28","guid":{"rendered":"http:\/\/www.naylor.com\/associationadviser\/?p=4340"},"modified":"2019-01-12T04:22:07","modified_gmt":"2019-01-12T04:22:07","slug":"event-sponsorship-makeover","status":"publish","type":"post","link":"https:\/\/www.naylor.com\/associationadviser\/event-sponsorship-makeover\/","title":{"rendered":"Is It Time for an Event Sponsorships Makeover?"},"content":{"rendered":"

Five Tips for Reinventing Your Sponsorship Offerings<\/em><\/p>\n

\"Tara<\/a>
Tara Ericson, Naylor Association Solutions<\/em><\/figcaption><\/figure>\n

Do you have a three-tiered (platinum, gold, silver) event sponsorship offering? Have you offered the same sponsorship opportunities year after year? Is your sponsorship revenue stagnant or declining?<\/p>\n

If you answered \u201cyes\u201d to any of these questions, your exhibit and event sponsorship offerings may need a facelift.<\/p>\n

Experts say 85 percent of a trade show\u2019s revenue comes from selling exhibit space.\u00a0The other 15 percent comes from sponsorship and advertising<\/a>. According to Velvet Chainsaw, however, associations are shifting more effort into capitalizing on trade show sponsorships and advertising in response to vendors\u2019 desire to reach potential customers in more meaningful, creative ways. Furthermore, vendors are relying on associations to come up with those creative ways to reach attendees before making a sponsorship investment.<\/p>\n

\"Tweetables\"<\/a><\/p>\n

Still selling gold\/silver\/bronze event sponsorships?
\nYou’re leaving money on the table.\u00a0\"RealLilTweetables\"<\/a><\/p>\n

85 percent of a trade show\u2019s revenue comes from selling exhibit space, but this money is quickly shifting over to custom event sponsorships.\u00a0\"RealLilTweetables\"<\/a><\/p>\n

When SPI: The Plastics Trade Industry Association offered more custom event sponsorships for NPE2015, revenue increased by 40 percent.\u00a0\"RealLilTweetables\"<\/a><\/p>\n

When it comes to event sponsorships, don\u2019t undersell yourself. Go REALLY big and creative.\u00a0\"RealLilTweetables\"<\/a><\/p><\/blockquote>\n

If you\u2019re already responsible for multiple parts of planning and executing an event, your sponsorships are likely on autodrive, and a total reinvention probably seems daunting. Don\u2019t let the idea of reinventing sponsorships intimidate you. Here are five tips for growing your event sponsorship revenue. Consider starting with one or two ideas or, if you\u2019re feeling bold, incorporate all of them. This list isn\u2019t exhaustive, but it is meant to stir up some creativity among you and your team as you consider how your organization can improve your sponsorship offerings:<\/p>\n

    \n
  1. Customization is in demand.<\/strong><\/li>\n<\/ol>\n

    Many associations are comfortable with their standard one-size fits-all platinum\/gold\/silver event sponsorship offerings. In fact, based on the 2014 Association Benchmarking Report<\/a>, only 42.8 percent (of association executives surveyed) said they were trying to customize their advertising\/sponsorship programs to a company\u2019s specific needs, and only 10.1 percent fully customize each sponsorship opportunity. That means the majority of associations are sticking with the status quo. Not good.<\/p>\n

    We encourage you to take a more sponsor-centric approach when developing your event sponsorship offerings. Building flexibility into your event sponsorship campaign allows the sponsor to tailor their messaging and branding more effectively toward your attendees.<\/p>\n

    \"Brad<\/a>
    Brad Williams , SPI: The Plastics Industry Trade Association<\/em><\/figcaption><\/figure>\n

    \u201cCustomizing sponsorship offerings is the preferred approach,\u201d said Brad Williams, VP of marketing and business development for SPI: The Plastics Industry Trade Association<\/a>.\u00a0 \u201cI think there can still be a place for platinum, gold and silver sponsorship offerings at smaller events; however, within the platinum offering there needs to be flexibility for customization,\u201d he said.<\/p>\n

    Williams would know: After offering more customized sponsorships for their 2015 event than before, SPI increased event sponsorship revenue by more than 40 percent over its last show in 2012.<\/p>\n

    Divide your sponsor prospects into different buckets to segment those prospects who are the most likely to participate in a customized event sponsorship package. Use a consultative sales strategy in which you try to match your association\u2019s event objectives and education track with your sponsor\u2019s objectives and branding.<\/p>\n

    A good example of a customized sponsorship might look like this: An event sponsor purchases a sponsorship package that includes a full-page ad in the association\u2019s magazine adjacent to an article related to their industry segment, that runs prior to the tradeshow. The ad directs readers to the sponsor\u2019s booth. At the event, the sponsorship package includes signage at a specific education session that reaches the sponsor\u2019s targeted attendees, permission to distribute a leave-behind, such as a key for each attendee, at the education sessions that will unlock a prize at the sponsor\u2019s booth, and an online banner in the event\u2019s daily eNewsletter.<\/p>\n

    \u201cWe know [the professional background of]everyone coming to the event so we ask our sponsors to tell us who they want to reach and what message they want to communicate and we help custom fit a program to their objectives,\u201d Williams said.<\/p>\n

      \n
    1. Keep it fresh.<\/strong><\/li>\n<\/ol>\n

      Remember when sponsoring hand sanitizer stations and water bottles were new? These types of sponsored swag used to be highly visible because they were innovative for a time. Associations that host events always need to look for and offer the next new thing in sponsorships to keep their event fresh for vendors. Offering creative, innovative sponsorships keeps your sponsors coming back for more! Combine innovative ideas with unique sponsorship opportunities to create new sponsorship revenue streams.<\/p>\n

      Williams shared a couple examples of creative sponsorships:<\/p>\n

        \n
      • Main Lobby DJ Sponsorship<\/strong>: Music creates great ambiance, especially if it\u2019s happy and upbeat. This approach allows the sponsor to have signage on the DJ table and to insert their own audio commercial every 10 minutes.<\/li>\n
      • Cocktail Ice Luge Sponsorship<\/strong>: Sculpted ice structure with the association logo and sponsor logo. This provides great exposure in a fun and entertaining environment.<\/li>\n
      • Product Developers Reception<\/strong>: An invitation-only gathering held during the larger show, at which guests hand-picked by the sponsor for their interest in the sponsor\u2019s products can view a prototype (in the case of NPE, a 3-D printed prosthetic arm) and speak with the sponsor about their offerings.<\/li>\n<\/ul>\n

        Williams encourages his team to ask prospective sponsors what unique sponsorship opportunities they have seen at other events to help keep his pipeline of sponsorship offerings fresh.<\/p>\n