How to Talk to Sponsors and Better Monetize Your Event
Sponsorships are a surefire way to boost your revenue. Typically, planners send out a sponsorship menu, or offer tiered packages. This might work just fine. But without understanding your sponsor’s goals, you may be leaving money on the table.
Our recommendation: start a conversation with the goal of tailoring a plan. This doesn't mean you have to develop custom or curated packages (chances are, that’s unrealistic). But sponsors appreciate the thought and attention, and they're always open to a great idea. Here are a questions to ask to help you lead these conversations and open the door to more sponsorship revenue.
Do they want to generate as many leads as possible?
Often, sponsors just want to gather high-quality leads. If that’s the case, offer to help drive more traffic to their booth so they can get in front of more attendees. There’s a few different way to accomplish this.
One option runs through your event app, with gamification. Work with the sponsor to incorporate their product or educational materials into a game, whether it’s a quiz, part of a scavenger hunt, or something new and unique. Incentivizing attendees to read and digest their materials is guaranteed to produce more leads.
Aside from event tech, there’s another obvious sell: premium booth placement. If your sponsor is looking for leads, offering to place their booth at a highly-trafficked location in the venue is sure to result in more leads.
Are they interested in one-on-one conversations?
Some sponsors have more of a premier-level product or service, and a long list of leads is of little or no value. For these types of sponsors, you might offer to facilitate one-on-one meetings.
For example, Marriott held an event that was a reverse trade show of sorts. The attendees were meeting planners, all looking for locations for their meetings. MeetingPlay created a questionnaire for the attendees, asking about the meeting they were looking to book and then matched them to the top hotels that were best suited for that type of meeting. Then, they scheduled blocks of time to meet with the hotels. That way, the attendee didn’t have to waste their time visiting hotels that wouldn’t be a good fit.
Do they have a really well-spoken CEO (or c-level executive?)
If a sponsor’s CEO is a compelling speaker, use this to your (and the sponsor’s) advantage. You can offer a sponsored speaking slot, breakout or some other type of educational content session.
Is the sponsor looking for brand awareness?
For sponsors looking for awareness, we suggest thinking outside the box. Have you offered sponsored fitness or mindfulness sessions? Attendees love a break, especially at longer conferences. Sponsorships could be a light yoga or dance class, a hula hoop session, or even a full-blown pre-event 5K.
Are they interested in app sponsorship?
For those interested in app sponsorship, there are always the popular options: banner ads, lead retrieval, gamification, featured placement within the app and on social walls (usually this is a logo placement) and enhanced listings.
But don’t sleep on some of the more overlooked options: Beacons, the splash page, audience response and sponsored pin maps. Push notifications are often overlooked as well — but proceed with caution here, because these can get annoying for attendees quick if used incorrectly.
Not only are these great options for your sponsor, but a great way for you to monetize your event app.
How Can MeetingPlay help?
As a white glove event app provider, we’ve seen it all when it comes to app sponsorship. But in our experience, it pays to have a one-on-one conversation about a sponsor’s goals and your event as a whole. The more unique and personalized the ideas you pitch, the better. If you want to discuss your next event app as well as how to monetize your event apl, contact us for a free demo. We’d love to hear from you!
MeetingPlay is a mobile event app provider who develops intuitive, engaging and information-rich solutions infused with innovative technology, providing experiences that everyone will be talking about.
Contact us today to find out how you can tap into the power of meaningful connections.