Event ROI (return on investment) has always been a mysterious beast for many companies and event planners. Over half of event professionals surveyed have had difficulty providing event ROI to key stakeholders, like sponsors, in the past. But with more and more events going virtual, it’s getting easier to gather the statistics and data to prove event ROI seamlessly. In fact, over 90% of event professionals think using the right event software and platforms make it easier to achieve those goals and prove outcomes. We’ve tamed the event ROI beast and can now show virtual event sponsorship ROI more easily!
That said, being able to deliver on that virtual event sponsorship ROI is more important than ever. Engagement numbers do not lie! Gone are the days where you can estimate the ROI and have that be enough! Since there is now so much cold, hard data available for virtual events, virtual event sponsors expect that you use it.
So, how do you go about cultivating virtual event sponsorship opportunities that will allow you to deliver huge ROI for your sponsors? We have some tips!
Be Open with Communication from the Get-Go
Ask your sponsors what their goal is for sponsoring your event. Plain and simple! Don’t play games. Don’t guess. Just be upfront and ask what they need to get out of a sponsorship with your company’s virtual event.
Do they want to connect with C-Suite attendees?
Are they just looking for a million and one impressions to engage a new demographic with their brand?
It’s important that you understand what their goals are so you can work together to determine what opportunities might make sense for them. Then once those opportunities are secured, you need to ensure you’re tracking the correct metrics and key performance indicators (KPIs). This means things like lead count, impressions, clicks, one-on-one meeting stats, etc. to be able to deliver those numbers at the end of the virtual event. Getting on the same page quickly will save you pain and allow you to provide a stellar sponsor experience—and ROI!
Offer Sponsor Perks for a Variety of ROI Goals
So, along with open communication, you also need to ensure you’re offering sponsorship benefits in your sponsorship media kit that speak to different ROI goals. For example, take a peek at the below sponsorship opportunities for specific ROI areas:
Sponsor ROI Objective: Be a Thought Leader & Share Content
For some companies, content is king. They want to share all their knowledge in their field, impress attendees with their value, and be positioned as the best of the best. For this type of sponsor you will want to offer:
- Private C-Suite networking opportunities like a micro experience where they can all do something unique together virtually
- Allow them to host or participate in a roundtable discussion or breakout session—for really big names, maybe even participation in the conference keynote would be appropriate
- Set up a virtual coffee shop with the option for experts to chat with attendees or “grab” their white papers or magazines off a virtual shelf
Sponsor ROI Objective: Straight Up Lead Gen
Some companies just want all the email addresses, honestly, it’s that simple. For that type of sponsor you’ll want to:
- Provide the attendee contact list post-event
- Give a chance for a pre-conference email blast that links to a landing page of their choice
- Organize a virtual trade show floor with virtual booths that attendees can “visit” and chat with the company rep. Did you know that virtual event attendees are 30% more likely to talk to the rep in a virtual booth than an in-person booth?
Sponsor ROI Objective: Enhance Brand Awareness
For a lot of companies, just getting their logo and company name out there is their goal. A few things you can do for them are:
- Offer an opportunity to sponsor a pre-conference mailer with swag
- Allow them to put something in a virtual swag bag that goes to all attendees
- Offer them opportunities for branding on the registration portal, mobile app, breakout sessions, event emails, etc. anywhere you can add branding, sell it!
- Host a happy hour or cooking class with pre-conference branded mailers and a session led by a guru from their team, with branded gear, of course
- Host a game and allow them to brand it with their logo, or even come up with the game content to tie it back to their brand and products
Choose the Right Virtual Event Platform
There are more and more virtual event platforms and software solutions popping up daily. Which one you use may seem overwhelming, but it’s such a critical decision when it comes to virtual event sponsorship.
Why, you ask?
Well, because not every platform is created equal, and not every platform will give you the metrics, engagement opportunities, or data you need to be able to show your sponsors their return on investment. This is enough for a whole extra blog, so if you need a little bit of help choosing a platform, let’s chat. We can help you choose a platform that will work for your virtual event sponsorship goals!
You’re Ready to Create Some Big Virtual Event ROI!
With these tips in mind, your virtual event sponsors will never question the value of your event sponsorship opportunities. They’ll feel heard, respected, valued, and hopefully, they’ll have a whole bunch of new leads and great data, too! If you want to learn more about how our Eventistry by Alecia team generates 6-figure sponsorship revenue, grab our newly launched Virtual Event Sponsorship System for all the insider tips and tricks ($3,000+ in savings with this bundle)!