Sponsoring an Event?
Have you been asked to sponsor an event like a trade show? Or maybe the thought has crossed your mind as a way to get good press? Here are a few questions you need to ask before making the decision.
Questions to Ask Before Sponsoring an Event
Whenever you sponsor an event, you’re spending money that could be spent elsewhere to market your business. So, whenever you consider signing on as a sponsor, you should ask yourself and the event organizers a series of questions to give you the information you need to make a good decision.
1. What’s in it for me?
It might sound selfish, but this is the essence of your sponsorship decision. You’re looking to put up a chunk of money (which could be spent in other places,) and you need to know how your brand will benefit. Will you get direct contact with potential clients? Will you get advertisements through the event’s social media accounts and thereby bolster your followers?
2. How can my brand add to the event?
Can you honestly add value to the event? Or are you just throwing your name up there and writing a check? Adding value would do more for you. Is it feasible?
3. Who is the target audience for the event?
Just as with all your print and digital marketing, it’s important that you target the right potential customers. And make no mistake, event sponsorship is a marketing endeavor. So do your homework and find out what kind of people attends the event you’re considering sponsoring. Make sure that market could plausibly be interested in your niche. No matter how appealing the opportunity to sponsor that event may seem, if the attendees aren’t your potential customers, your marketing money could probably be spent more wisely in other ways.
4. How many attendees are expected?
This is important for a few reasons. First, and most obvious, is you’re going to get more bang for your marketing buck at a larger event. The more eyes present, the more eyes on you. But also you need to know in case you are giving away promotional products. It wouldn’t work well to bring 100 grab bags with your logo on them if there are going to be 2,000 attendees. You’ll run out within the first hour—then what?
5. How will the event be marketed?
Knowing how the event will be marketed can help you figure out how much press you’re going to get out of it. Will you receive placement mentions in their marketing? Does their marketing plan look like it will be able to generate the audience they are promising? Asking this question will let you get a better idea of how well the organizers know what they’re doing.
6. When does the event you’re considering sponsoring take place?
This is painfully obvious, I know. But it never ceases to amaze me how disorganized some small and medium sized business owners can be. Usually it’s due to wearing too many hats or having too many cooks in the kitchen (two terrible-but-true clichés that I can’t really think of a better way to say right at this particular moment).
Before you agree, make sure your calendar is clear. Few things are as troublesome and as embarrassing as double booking. Imagine promising to sponsor, but then you aren’t actually able to make the event. Disastrous.
7. What are the plans for the day of the event?
First, you need to know what the schedule is going to look like so you know what you’re getting yourself into. But more importantly, asking about the schedule can help you get an idea of how organized the event planners are. You don’t want to be a part of a discombobulated mess. This could reflect badly on your brand.
8. What sort of reputation does the event have?
Again, you’re looking for an event that will lineup with your company’s image. So if the show has gone on for a few years, how to people generally view it? Is it a classy deal, or has it left a bad taste in some people’s mouths? Sponsoring an event with a not-so-great reputation can tarnish your brand, as people will associate your company with the bad event.
9. Who else is sponsoring the event?
Will your competitors be there? Then maybe you’re going to want to shy away so as not to get into a “who can throw more money at this” battle. Or maybe not. Maybe you want to make sure your name is right up there alongside theirs. How about companies who you could potentially develop mutually beneficial relationships with? Are the companies high quality? Or is the sponsorship filled with companies you’d rather not be associated with?
10. What are the organizer’s affiliations?
Sometimes event organizers have strong ties to political, social, or religious issues. This may or may not cause an issue for you. In today’s cancel culture, you should strongly consider whether you are willing to have your brand tied together with them in the public eye.
Can you think of anything else you’d need to ask? Tell us in the replies!
Once you decide to sponsor an event, you can use press release distribution to increase the visibility of the event and your sponsorship of it, significantly increasing the bang for your marketing bucks. Learn how to write and distribute a press release for an event, (including free templates and examples.)
This article is written by Mickie Kennedy, founder of eReleases (https://www.ereleases.com), the online leader in affordable press release distribution. Download your free copy of 8 Shocking Secrets Press Release Distribution Firms Don’t Want You to Know here: https://www.ereleases.com/landing3.html