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Top Tips for Sponsorship Revenues & Engagement in Virtual

Top Tips for Sponsorship Revenues & Engagement in Virtual

May, 26 2020

What are sponsor benefits like in the virtual space? How to keep long-term sponsors’ engagement with virtual events? How to make sure they receive the right ROI? Discover here how virtual events bring new and innovative sponsorship opportunities.

Amid this pandemic, many organisations are taking steps to move their events online, at least for the coming months. And if most of them are wondering which platform is best suited for their need and how to make a profit; many are also wondering how to retain sponsorship revenues within their virtual event strategy. 

Corporate sponsors provide financial support and are often a key part of what allows organisations to achieve their mission. But too often, sponsor packages are developed to fit organisations’ own revenue objective, while they should be designed based on the sponsors’ ones. Sponsorship packages should be quickly adaptable and scalable to enhance sponsor needs and goals, thus contributing in building stronger partnerships. 

In the digital space, a virtual event is a moment in time. But it doesn’t stop there. The overall audience’s virtual experience starts well before the event itself and continues long after it ends. This leaves plenty of opportunities for sponsors to showcase their brand

The beauty of online platforms – virtual is a volume business 

Like for any face-to-face event, virtual events’ sponsors are looking for high-converting leads*. They want to interact with their target audiences, show their products, and increase revenue. Online platforms offer them to extend their reach for longer term and beyond the event date. It allows unprecedented access to individual information, users data, delegates’ behaviour and learning insights such as topics of interest, preferred time of learning, day and usage patterns. Moreover, because online is about volume, online platforms have no audience limitation. This allows sponsors to access an even larger number of prospects and for an extended time.

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What happens on the exhibition floor – data is the new exhibition

At a traditional face-to-face event, exhibitors scan people with lead retrieval and receive their contact information.  

With online solutions, exhibitors have access to data to measure the time attendees have spent looking at their products and the type of information they are interested in. This does not occur only while the event is ongoing, but year-round. To make sure sponsors get the best out of this opportunity, allow exhibitors to record a short introduction video to present their products, and facilitate virtual appointments with attendees based on their product and service interests

The sponsorship sales strategy - think like a marketer 

Virtual events provide new and innovative sponsorship opportunities with even greater ROI. Virtual sponsorship packages offer flexible and customised options, beyond the event’s one-size-fits-all opportunities. They also provide measurable and impactful data, allowing sponsors to strengthen their brand awareness and engagement with their target audience. What’s more, tailored opportunities will allow sponsors to receive qualified leads with high potential for conversion, and therefore demonstrate greater ROI.  

New and innovative sponsorship opportunities may be identified by reviewing the digital platform options. Remember, revenue may hide in areas you didn’t think about and opportunities to impress sponsors are endless.  

By adopting a blended approach that is at the same time agile, strategic and human-centred, virtual sponsorships can be as effective as at traditional events. Get in touch with us to learn how we can maximise your sponsors’ ROI in the virtual realm. 

 

 

*MCI has its own proprietary data list that is GDPR compliant and can help generate audiences in an online world. 

ABOUT THE AUTHOR

Thomas Howden

Sponsorship & Marketing Director - MCI Australia

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