Developing and implementing a successful sponsorship strategy is critical to the financial success of any major event.
Experienced major event organisers recommend a conservative approach to forecasting sponsorship revenue and advise taking a 'worst case scenario' approach.
The motivations for sponsoring an event are changing, gone are the days where companies will pay large sums of money in return for the use of an event logo or composite branding. Sponsors are placing less emphasis on brand awareness and are now seeking tailor made packages that align with their broader business strategies. Focus has moved to brand experience, community engagement and staff engagement.
Event organisers are increasingly have to look at providing money-can’t-buy experiences and other unique offerings to attract corporate investment.
Sponsors are looking to create partnerships with an event, they are seeking to explore opportunities that provide or allow for:
- a memorable brand experience
- the ability to tell a story and/or create a meaningful relationship
- injecting personality into their brand
- positive influence on their brand
- staff engagement
- showcase world-class products
- experience for social media followers
- experience to reward high value customers
- generating revenue off the back of the event.