Event Sponsorship can be an effective way for your company to connect with your target audience and build customer relationships. By aligning your brand with a specific event, your company can tap into the event’s existing audience and reach an even wider audience through the event’s promotional efforts. This can help a company increase visibility and drive more sales and revenue.
This article will discuss how to find the best B2B Events to Sponsor and how to make the most out of it once you do.
What is Event Sponsorship?
Event sponsorship is a strategic marketing tactic where a company provides financial or in-kind support to a specific event in exchange for exposure and the opportunity to connect with the event’s audience. A company can benefit from sponsoring an event by raising brand awareness, building customer relationships, and driving sales.
Sponsorship can take many forms, such as providing funding for the event, donating products or services, or offering staff or expertise to support the event’s organization. The type of support the sponsor offers will typically be outlined in a sponsorship agreement, a contract between the sponsor and the event organizers.
The terms of a sponsorship agreement will vary depending on the specific event and the level of support provided by the sponsor. For example, a company that provides a large amount of funding for an event may receive higher exposure and more opportunities to engage with the event’s audience.
In addition to financial support, sponsors may be asked to provide marketing support for the event. This could include promoting the event through advertising, social media, and email newsletters. As a sponsor, you may also be allowed to have an event booth or other display area where you can showcase your products or services to attendees.
Why You Should Sponsor B2B Events
Sponsoring B2B events can provide many benefits for companies. One of the main reasons to sponsor is the opportunity to showcase products and services to a targeted audience of potential customers.
This can be particularly useful if your business wants to expand its customer base and reach new markets. By sponsoring an event, a company can have a dedicated space to display its offerings and interact with attendees, allowing them to promote its products and services effectively.
Another advantage of sponsoring B2B events is the opportunity to establish the company as an industry leader. By investing in an event, a company can demonstrate its commitment to the industry and willingness to support important initiatives to its customers. This can build the company’s reputation and establish it as a trusted and reliable partner.
Sponsoring B2B events can also be a valuable way to build brand awareness. By aligning the company with a high-profile event, a company can gain exposure to a large audience of potential customers. This can raise the company’s profile and increase its visibility in the industry.
In addition to the promotional benefits of sponsoring B2B events, there are opportunities for networking and building relationships with other businesses. Such events provide a platform for companies to connect with potential partners and collaborators, which can lead to new business opportunities.
10 Steps for B2B Event Sponsorship Success
1. Research Industry Specific B2B Events and Evaluate the Event’s Audience and Reputation
With thousands of B2B events worldwide, there are likely to be many events in your industry, so it’s essential to determine which are the most relevant and valuable to your business.
By identifying your target audience, you can tailor your sponsorship efforts and goals to better align with the interests and needs of the attendees.
In the past, event marketers spent countless hours looking into different event websites, industry publications, and social media channels to find out about upcoming events to attend that would match their target audience and then spent even more time trying to figure out who would be attending.
The modern event marketer has gotten smarter.
Now, with Vendelux, you can find all the popular upcoming b2b events and event attendee and sponsorship information for thousands of events with a quick search.
2. Consider Sponsorship Opportunities
Different events will offer various sponsorship opportunities, so it’s essential to carefully consider what’s available and how it aligns with your goals. Look for options that will give you maximum visibility and exposure to the event’s audience, such as speaking slots, networking opportunities, and branding on event materials.
This step involves reaching out to the event organizers to inquire about sponsorship opportunities and discussing the terms and conditions of those opportunities. This should include a discussion of any exclusivity agreements that may be in place and any other restrictions or limitations on the sponsorship. By contacting the event organizers, your business can learn more about the available opportunities and negotiate the terms of your sponsorship.
Work closely with the event organizers to ensure that all the sponsorship requirements are met, including any tasks related to setup or tear-down. This can include coordinating the delivery of branded materials, arranging for display or booth space at the event, and coordinating any other activities or requirements specified in the sponsorship agreement. By coordinating with the event organizers, your business can ensure that your sponsorship is smoothly executed and that all requirements are met.
3. Negotiate Your Sponsorship Package
Once you’ve decided on an event to sponsor, it’s time to negotiate a package that meets your needs and budget. Be prepared to negotiate on items such as visibility, the type of branding, the number of tickets included in the sponsorship, and any deliverables that will be required, such as branding opportunities or other promotional activities. By negotiating the terms of the sponsorship agreement, you can ensure that your sponsorship is a good fit for your budget and goals.
4. Create a Sponsorship Marketing Plan
Develop strategies for reaching the target audience to generate buzz about the event. This step involves developing a plan for promoting the sponsorship, including tactics for reaching the target audience and generating interest in the event. The marketing plan should include a mix of online and offline strategies, such as social media campaigns, email marketing, and print or digital ads. It’s always better to think ahead and brainstorm ways to make the best of the sponsorship before it happens.
5. Train Your Team on Their Roles for the Event
This step is crucial because it ensures that everyone on your team is on the same page and knows what is expected of them during the event. This could include the sponsorship’s specific goals, package details, each team member’s roles and responsibilities, and the plan for activating the sponsorship at the event. By providing this training, you can ensure that your team is prepared and ready to make the most of the event.
6. Develop Marketing Materials
Create branded materials to be used at the event, such as signs, banners, or promotional items, to help promote the sponsored products or services. These materials should be designed to reflect the branding and messaging of the business and should be tailored to the event’s target audience.
7. Leverage Your Sponsorship to Create Content
Use social media and other online channels to promote your sponsorship and drive traffic to your booth or display area. This step is important because it allows you to reach a wider audience and generate brand awareness. It also provides a way to engage with attendees before, during, and after the event. You can use social media to promote your sponsorship, share updates and behind-the-scenes content, run promotions and contests, and live-streaming events or activities within your booth or display area. Using these channels effectively can drive more traffic to your booth and increase engagement with attendees.
8. Attend Event Networking Opportunities
Attend the event and take advantage of the available networking opportunities. This can include meeting with attendees, showcasing the sponsored products or services, and participating in any after-hours parties, networking, or educational sessions offered at the event. By attending the event, your business can engage with the target audience and build relationships with potential customers or partners.
By sponsoring events that current customers attend, you’re able to nurture relationships in person – this can help strengthen your business and reduce or prevent any churn from these customers in the future.
9. Collect Attendee Information for Personalized Follow Up
Collect contact information from attendees who express interest in the sponsored products or services and follow up with them after the event to continue the conversation. This can be done through collecting business cards, registering attendees for a newsletter or email list, or offering a special promotion or discount. By collecting contact information and following up with attendees, your business can nurture relationships and convert leads into customers or partners.
10. Create A Post-Event Report
This step is important because it allows you to review the success of your sponsorship and identify areas for improvement. The post-event report should include metrics such as booth traffic, leads generated, sales, feedback from attendees and your team, and the overall return on investment.
This information can be used to evaluate the success of the sponsorship and determine whether it was a good investment for your brand. It can also identify areas for improvement and adjust your strategy for future events.
Use the insights from the evaluation to improve future sponsorship efforts and make more informed decisions about which events to sponsor. This can include implementing changes to the sponsorship strategy, such as adjusting the target audience, the types of events, or the marketing tactics, based on the feedback and insights gained from the evaluation. Using the insights from the review, you can improve your sponsorship efforts and achieve better results in the future.
Finding b2b events to sponsor can seem like a nightmare, but it doesn’t have to be. In the past, event marketers spent countless hours searching for relevant events and put in much guesswork to try and make the best decisions on their choices.
With Vendelux, event marketers no longer need to take risks on events based on a hunch. With event intelligence data surrounding thousands of events, attendees, and sponsors, event marketers can more quickly and easily discover the relevant events to sponsor. They can focus their energy on building strategies to maximize the performance of the sponsorships they choose.
Work smarter with Vendelux – schedule a demo to see how Vendelux can enhance the way you work, or dive into Vendelux yourself and start searching!