Events are the hottest thing in the marketing industry at present. More and more business owners continue to embrace this form of marketing, primarily because of its result-oriented nature.
A study by EMI & Mosaic shows that about 70% of people become a regular customer of a specific brand after attending marketing events. The same study also revealed that 84% of the attendees develop a positive attitude toward the company and its products as well.
With more and more business owners realizing the overwhelming potential of event marketing, sponsorships are crucial more than ever.
So, what exactly is Event Sponsorship?
Event Sponsorship simply refers to a brand or any business organization that covers the expense of the entire event. Companies usually sponsor events in return of harnessing their optimum benefits. These benefits usually come in the form of boosting brand awareness and increasing their customer base as well.
How can you Improve Events with Event Sponsorships?
With more businesses turning to event marketing every year, sponsors are not hard to come by. The problem, however, is keeping up with their expectation. You can score some sponsors initially, but with consistent results, your event funding will ultimately dry up.
So, how can you improve your events to ensure optimum results for your sponsors?
- Identify the right sponsors
Different categories of business organizations adhere to their unique audiences and requirements as well. Two brands can present polar opposite criteria according to what their specific audience needs. This obviously can put you in a disadvantageous spot.
After all, adhering to a diverse audience with limited data can diminish your efficiency.
So, instead of jumping in the bandwagon with every event sponsors you come across, identify which brands you can serve best based on your past experiences. This will both save you time and enhance your success rate as well.
- Focus on creating a unique and engaging event
At the end of the day, it all comes down to the quality of your event marketing. No amount of jaw-dropping funding can save a mediocre event. And that is precisely what you should avoid.
The value of being unique in event marketing is more relevant than in any other marketing fields. In fact, according to a recent study, 29% of event sponsors say that their main priority is to invest in events that provide unique promotional experience.
Also, events that prompt active customer engagement is another key aspect as well. A well over 39% of professionals believe that attendee engagement is the ultimate goal of in-person events.
- Gather sample data
Gathering data is the single best solution to keep improving your future marketing events. Every event presents itself with an unlimited potential of harnessing valuable data from the customers. These data can then be used to analyze the success/failure of the event, but most importantly, they can help you understand how to improve your upcoming events.