There are always plenty of events out there that need sponsorship. On the surface, a sponsorship can be a great marketing opportunity for a business, whether it’s big or small. A sponsor gets direct access to the event’s attendees and, depending on the event, it may be possible to leverage a sponsorship into some media attention. But if you don’t choose the right event, the cost of that sponsorship may just not be worth it. Telling the difference is the key to finding a good sponsorship opportunity.
Who’s the Audience?
The biggest question when agreeing to sponsor the event is who will be attending it. Your business may be offered a sponsorship that directly relates to what your company does — maybe for an industry event. But are the people in your industry also your customers or clients? If not, it can take a lot of work to make a sponsorship really pay off. The best sponsorships offer you access to attendees who will be specifically interested in your product or service.
Finding out who will be attending the event isn’t just a matter of talking to the organization about who they expect to attend. If it’s a reoccurring event, take a look at last year’s demographics. Check out social media: who has mentioned that they’re going on Twitter? Who has posted photos from last year’s event on Flickr? You can even get specific names, whether or not the event organizers can provide them.
How is the Event Promoted?
While it isn’t always a guarantee, the better job the event organizers do at promotion, the more likely you are to get a mention in the media as a result of your sponsorship. Not all events are particularly well promoted: it’s generally better to work with an organization that is going to promote the event as much as possible and, along with it, your company. However, there are a few situations where promoting the event yourself can pay off.
Even a few press releases can help the media realize the importance of an event that otherwise might not get a lot of attention (such as an event put on by a small non-profit). It doesn’t hurt that such promoting will typically earn your company additional media mentions.
Saying No to Sponsorships
When you look at a sponsorship opportunity closely, it may not be such a good deal for your business. You can ask the event organizer to try to explain how the sponsorship can benefit you, but due to the expense of most sponsorships, there are just situations in which you won’t be able to justify it financially. There may be situations in which finances aren’t the only consideration — if there’s a cause that is near and dear to your heart, you don’t have to get anything out of a sponsorship for it to be worth the price. But it’s also okay to turn down the chance to sponsor events if it’s not the right fit.
Image by Flickr user Josh McConnell
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