Musings from EMP’s John Tatusko on key questions you need to ask about your sponsorship program.
I often hear: “John, you’re very handsome. What is the secret to creating effective event sponsorship packages that sell?”
I have two responses at the ready, and they both start with: “Why thank you! You are obviously highly intelligent.”
If I’m in a hurry, I add: “Include speaking in sponsorship packages – all sponsors want speaking opportunities,” then I ask them for money because I work for an event management agency, and that’s how things work.
Most of the time, it’s more complicated than that, and I end up asking a lot of questions:
Who is the audience?
The audience is the product. Who are they? The booths, the sponsorships, the meetings, the activations, the banners, none of those things are really the product. They’re just a means to reach the audience. They’re important but not really what a sponsor is buying. Just like any other media platform, sponsors buy audience.
How many attendees will be at your event, and why are they there?
Intent is everything. The “why” is arguably more important than the quantity. What drove them to register for the event? What is their mindset? What problems are they hoping to solve? This is where the value is for a sponsor; it’s where the story is.
Who are your prospective sponsors, and why is this audience important to them?
What are prospective sponsors trying to accomplish? How well do you know them? Are they your partners? How do they prefer to engage this audience? Where are their strong prospects? Where do they need help? This is where your opportunities are.
Who is going to sell the sponsorships?
The partner team? Marketing? This is important, and it’s easy to overlook. Who is selling plays a big part in what we offer, how we price it, and how we go to market.
Once we have those answers, it’s a matter of figuring out what opportunities we want to offer to sponsors, how to price them, turning on the contract machine, and watching the money come pouring in…. Well, it’s not exactly that simple, but working with EMP on your sponsorship program often results in greatly improved performance, process, revenue, and results.
Interested in talking about your sponsorship program and a customized plan to meet your goals? Reach out, I’d love to talk with you.
