4 Ways to Lose Your Sponsors

The major DON’Ts you should avoid to keep your event sponsors

May 11, 2023
Informative Reads

The sponsorship events category is set to have the highest revenue CAGR of 12.1% between 2021 and 2028 according to Allied Marketing Research. This is why the billion dollar industry is full of high-spirited souls eager to compete to keep their slot in the playing field. To be two steps quicker than the rest, you must tick off the absolute necessary: attracting new sponsors and retaining your past ones. As much as we would like to think that past satisfied sponsors is a guarantee that they’re up for the next round, it is not always as easy as it sounds.

So how do you ensure you aren’t benched in the game? By understanding the potential pitfalls to attracting and preserving your sponsorships and how to entirely avoid it. In this article, we’re diving into our top four crucial ones:

Depending on basic data to convince sponsors

As a heavily data-driven industry, data becomes a currency that fuels the event sponsorship sector. Simply put, basic data like age, name, and occupation simply won’t cut it anymore – you need to dig a little deeper.

Hit your sponsors with valuable event stats: what are the potential attendee numbers they can reach with you, how many people click through your event platforms, how many people engaged with previous sponsors, lead retrievals during your events, a deeper understanding of attendee demographics and behavior, and so much more. 

The right event tech can provide you easily understandable analytics and data for you to gather from – Thus, it is critical to partner with the right tech provider. For example, our intelligent lead scanner, Jublia Scan, can help you add additional data to collect during registration. Use your added data like business interests, industries, procurement needs, and more to create an additional layer of information during lead generation through scans. Hence, elevating the lead generation experience beyond what is presented traditionally in name cards  exchanges.

Assuming you already know everything about your sponsors

In kickoff meetings with sponsors, you might think that their company and brand introductions are enough, but they really aren’t. After all, you are going to promote their products, increase brand awareness, and help gain potential customers in your event, it’s literally colliding two worlds – you’re going to need to know much more than just their basic introduction. These are some things to note:

Your audience are not automatically theirs (and vice versa)

Combining your audience and your sponsors’ can be a little tricky. It is crucial to know more about your sponsors’ audience and explain to them how their target market is among your event attendees. This is the first stepping stone to convince them that your event can be a valuable revenue source.

Pay attention to their true success metrics and the pain points they face

All sponsors just want the spotlight for them to promote their products and catch all the attention in your events…right? Well, not necessarily. There are sponsors who want an early head start on launching their newest products, there are those who want to simply raise their brand awareness, there are sponsors wanting to know more about their products’ buzz or people’s reviews, and so much more.

Now it’s time for you to understand their goals and convince them how you can inspire your audience to not only know your sponsors’ products but actually take action.

Now that we know what they want, we would also need to know what they need. Ask your sponsors about the pain points and challenges they’ve faced so far to find the opportunities in your event to help.

Inadequate branding of your sponsors

You would have a high-chance of reaching most of your sponsors’ goals by highlighting their brand throughout your event and gaining attention to them. Exposure is truly key, so make sure you prominently display their logo and value in your event’s materials.

This means inserting your sponsor’s branding everywhere in the event like in key physical banners, and providing them with prime booth space or sponsored spaces like meeting lounges. On top of that, since your event hub is exposed to your audience throughout the event (pre-event, during the event, and post-event), it’s best to activate digital branding too for a higher chance of exposure.

With Jublia, you would have prime advertising spots on your event platforms which you can offer to your sponsors. You can also incorporate their branding into the event app. This will greatly increase their chance of reaching a larger audience and drive more traffic to their products and services. 

Jublia also provides an up-ranking feature which would help your brands stand out even more with high-quality profiles and higher visibility. 

You can also offer sponsored sessions for brands, a great chance for brands to tell their brand’s story to a large audience. This feature is perfect for sponsors looking to raise brand awareness or launching a new product.

For organizers with sponsors who want to increase sales of their products or gain insights about the market’s behavior, equipping Jublia Scan is the best move. This way, your sponsors can gain insights about their market and retrieve hottest leads through an intelligent AI-powered lead scanner.

Want to learn more about maximizing sponsor exposure? We’ve compiled it for you here. To know more about the opportunities you can get from Jublia’s features, stay tuned for next week’s article where we’ll dive deeper into more details.

Unable to provide measurable results for sponsors’ ROI

At this point, we’ve listened to their goals, and during the event, we’ve tried to achieve it through various tactics. Now that the event is over, it is time for you to prove and explain how you’ve kept your promises and how it all came into realization – or not (Remember, transparency is the key!)

Provide a breakdown of your efforts to achieve your sponsors’ goals along with its measurable results. This would help present a clear idea of how their investment to your event is benefiting them.

This is, again, where event tech has a crucial role. However, a research by EventMB states that 1 out of every 4 event tech providers doesn’t offer analytics for measuring sponsor ROI. A good tech provider would help you gather insights you need to reach your sponsors’ Key Performance Indicators (KPI). 

With Jublia, you would have access to a variety of analytics that would help out. Provided in a storytelling approach, access your holistic event engagement data story from interactions, opportunities, to its realization.

Interaction: The first step of the engagement journey, where you can see how effective your event was in engaging with the audience by analyzing how attendees interact with each other and your platform or content.

Opportunity: All interactions can create opportunities for your end-users. Through the optimization of Acquisition, Scan Intelligence, and Trends, you will be able to help you better assist your sponsors in achieving their attendance ROIs.

Realization: After facilitating and maximizing opportunities, now it’s time to measure the outcome results through realization. Explore our conversation insights and measure your audience’s satisfaction by reading through their sentiments to uncover the actual impact of your event.

Partner with us

These 4 “tips” are just the tip of the iceberg on how we can help you keep your sponsors satisfied. With our decade of experience in powering events, you can give your sponsors the value that they deserve. Speak to our Solution Specialists at info@jublia.com and follow our LinkedIn page to get the latest updates!

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