Are Your Sponsorships Effective?

Marketing through events is a way to gain brand recognition, promote a product or service, increase your customer base, or maybe learn more about your audience face to face. If your brand has a presence at events, you have most likely looked into, or are currently sponsoring. It's a great tactic that could help your event marketing efforts. Sponsorships typically come with a cost though, and there is a chance that a sponsorship may not help to see additional success. Here’s our tips for effectively evaluating your sponsorships: 

  1. Know your own goals first. By figuring out what you’re trying to accomplish (increase brand awareness, sales, website traffic, etc.) prior to signing any contracts, you’ll be able to spend your event budget more effectively. For example, if you’re looking for more brand awareness and recognition, ensure that your sponsorship includes plenty of opportunities for visibility. 
  2. Look at the event itself. Does the event already attract the customers you are trying to reach? Do you like how the event is run and the reputation surrounding the event? As with your goals, it’s important that these things line up to your company’s mission.
  3. Make sure you are able to be involved in the event you are sponsoring. Whether you are exhibiting at the event or participating on social media using show hashtags, engagement with the event attendees is important. Simply writing the check or submitting the logos and graphics will not get you the results your looking for. 
  4. Consider what short-term and long-term success could look like. We all know the feeling of an after-event rush, the increase in excitement and the eagerness to quantify just exactly how successful the event or sponsorship was. We also know how that attention to specific event detail may lessen as weeks or months go by and new projects or events come up. Make sure you’re tracking all of your data in both the short and long term to truly see how effective, or ineffective, your event marketing decisions are. 

Sponsorships can be an important part of your event marketing strategy, however gauging their effectiveness can be a challenge. By understanding the event, committing to participation and clearly defining your goals, you’ll be much better equipped to make sure those sponsorship dollars are well spent. 

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