Event Sponsors Will Ask These Questions: Be ready with the answers
Many brands are now expressing interests in experiential marketing in search of better impact for their brand but at the same time penetration of digital marketing and tracking down ROI to double digit of the decimal. Many brands are preferring digital marketing over offline for better budget management and foreseeing the future.
It’s a well-documented fact that event organizers have a lot to do, which can sometimes include taking on sales responsibilities when it’s time to find sponsors. It’s important to be prepared for those difficult conversations with the Brand managers, marketing agencies for easy conversion of the sponsorship packages. So we’ve put together a list of the important questions that event sponsors are going to ask you.
How many attendees are you expecting?
Interested Brands want to know how big will be the event outreach which is that that how much people will be attending your event. One more thing they want to know is your past track record of event organization, this builds confidence in your event and takes you a step closer to that sponsorship package sale. If you have been doing this for the past years then you will need no introduction to the event organizer and the barrier to entry for the sale will be very less. No sponsor wants their brand to be associated with an event that is ill-organized or unprofessional.
What is your audience demographic breakdown?
This is a unique question and the chance of this being asked is really high. Similar to how today’s marketers use advertisement targeting on Facebook, Google Adwords these same marketers want to make sure that your event is attended by the type of person that has the potential to become a customer for the brand sponsoring the event. You have no control over your sponsors’ preferred target demographics but what you do have control over is how you present and communicate the demographics of your event’s audience.
If your event is a B2C event, sponsoring brand will want to know the audience demographics such as age groups, gender orientation, purchasing power etc that your attendees represent and how serious they are about whatever type of interest the event represents.
In the case of B2B events, sponsors will want to know what percentage of your attendees are from management i.e. are they the main decision-makers (or have seniority that implies they have decision-making capacity) or influences, because this will They’ll want to know where your attendees’ home offices are located, what industries they represent and what positions they hold in their organization.
These are just a few important audience defining data points that each brand will look up before becoming a sponsor for your event as this will define their ROI.
Sponsors confirmed till now?
Each new brand/company that you approach would want to know which all the other brands are onboard and they will be sharing their space with. Seeing the other confirmed sponsors helps them validate that they’re making an intelligent choice to sponsor your event.
What types of sponsorship packages do you have?
This is the deal-making question if this comes up then understand that you are very close to cracking the deal and the sponsor is looking to come onboard your event. Every sponsor has their budget and spending limits which they have to disburse through various mediums depending on the yearly targets. They want to know if your packages are thought-through and do they represent a professionally-organized event and have you created value in the offerings that will help them justify the investment.
How much do the packages they cost?
You need to be clear why the package costs this much and even the brand knows that the costing is negotiable, so be open for that. The brand will try to get the best deal out of you and you will try to do the same. Make sure that the pricing is in range and the offering is exciting enough, also it should justify the price of the package.
What ROI should we expect from our investment?
Everyone wants to track the investment especially the sponsors, as they are responsible for their management in spreading the word about the brand and getting conversions. The ROI of event sponsorship is a tricky thing, some sell footfall, some sell past events and some sell their sub-events for getting traction to their brands. It’s a very clear statement that event sponsors expect ROI from the event beyond just ‘views’ and they want to know how your event will help them realize sales from the targeted customers. And, to be clear, ROI is different from brand to brand and also the stage of the company. In the initial phase, the brand is looking to acquire the users later it focuses on branding and retaining the customers. So, try to customize the packages according to the brand and their requirements.
Can I get the attendee details?
Marketing Managers are always on the lookout for refined leads that can be converted into sales especially B2B events so be ready for this one. For many Sponsors, one of the biggest values they see from events is the opportunity to grow their own customer lists, which can be used later for sales. Most events offer mail/SMS marketing instead of selling their list outright. This is also done by offering this in the premium sponsorship package of the event.
Is your event ticketed? if yes then how much?
Yes, you know how many people are going to come and their demographics. Events are free or ticketed and each ticket has a price which includes or excludes a list of services. This will also tell the sponsor about the audience and their seriousness and about the event as well
How will the event be marketed and through which mediums?
The brand will definitely want to know how you are going to reach out to the audience and bring them to the event date. Your marketing plan is really important to set the range of the sponsorship package
When and where is the event? is it a weekend or a holiday?
Location of the event venue plays an important role on the football and the same stands true for the date of the event. if it is an event then definitely the footfall will be much more than an average weekday, especially for the B2B events. Moreover, if you talk about festivals then the audience can way exceed the
