Posted on

Searching for Sponsors? Switch up the Job Titles

Man Looking Through Binoculars

The Sponsorship Guy’s Pro Tips for Finding Leads

You are on LinkedIn. You are trying to find new prospects. When I enter “Sponsorship” into the search field, I get 13,805,662 results. Not helpful. By further filtering to just the United States and to the Marketing and Advertising Industry we are down to 429, 938. Still, not even close.

Using your filters won’t help much unless you know the job title of the prospect. It’s also tricky to filter out people with Sponsorship in their job title but aren’t prospects because they are in sales or operations. Let’s skip people with Sponsorship in their title and look at some other prospects.

I find it works best to look in the industry you want and then by job title. Here are the job titles I often use when searching for prospects on LinkedIn:

Experiential Marketing | It is expensive for companies to create and operate their own experiential. You can offer to white label or create an experience with their brand. Offer something that matches their brand marketing.

Integrated Marketing | This is a big marketing bucket where different tactics get combined. Very often sponsorship is part of their responsibility. See what else they are doing that pairs nicely.

Marketing Communications | Marcom is in the middle of everything. A good event is a tool in their box. These folks know the brand message, align with it.

Consumer Engagement | If activation is a strong suit of your property, this is a good place to start. Every company wants more customers, show them your audience contains their ideal consumers.

Market Manager | Local or regional business leader who may be very interested in how your event or property can help them meet their objectives. If you are an established property in their market, they are more likely to know you.

Marketing and Activation | Think lead generation and conversion. If your event has an audience that matches the prospect’s needs, they may want to influence, educate and sell them.

Promotions | Sampling, engagement and awareness of well aligned audiences needs a place to happen.

Business Development | If your property or event can help open an important channel, this is a great connection to make especially for conferences that align.

Field Marketing | This team is likely to be directly engaged with events and properties.

Event or Events | Managers and marketers with Event or Events in their titles are often the ones who are looking for you. Look for people working for companies in your target segment, so you don’t get wedding planners and such.

Brand Managers | The brand is their baby. The right event can raise the profile, target their known consumers or align brand values. They also know where the money is for the brand.

Product Placement | It’s not just for TV and the Oscars. Being the official provider of a product or service to your event or property can establish legitimacy and affinity for consumers.

Sales | They probably aren’t your ultimate buyer, but they care about what the company is doing to promote its business and likely sympathize with how hard it is to sell. If asked right, they will sometimes give you an email or phone number you need.

Communications and PR | These jobs are tangentially involved in covering sponsorship activities that produce media coverage and sometimes have a direct link to the sponsorship team.

Use the ones that make sense to you. In my experience, anyone with Sponsorship in their job title is probably getting flooded with all kinds of offers and have put up a firewall to protect their sanity. Unless you know the CMO or CEO, you probably won’t get to them either. I think you will find that even if they aren’t the decision maker, you may get the insights you need to have the right offer to the right person.


Want more? Join TheSponsorshipGuy.com’s mailing list and get insights and updates every couple of weeks.

About Larry Weil:

Sponsorship engagement strategist and customer acquisition specialist for some of the nation’s most recognized brands Larry has over $200MM in sponsorship transactions to his credit. He has a Rolodex of over 4,000 brand and industry contacts. Larry is an expert seller, negotiator, presenter, and strategist. He has successfully represented properties and sponsors in numerous categories including Conferences, Trade Shows, Convention, and Visitors Bureaus, Entertainment and Sports Properties, and Tech.

Posted on

3 Principles Elite Events Use to Attract & Reward Wealthy Clients

From the Cannes Film Festival to Wimbledon, all elite events share a wealthy target audience. One of my favorite culinary events Once Upon A Kitchen is a great example. It features multiple award winning celebrity chefs in an experience that will attract wealthy diners from all over the world to Miami Beach this coming December.

When marketing to Ultra High Net Worth individuals (UHNW have $30MM+ in assets) through high profile events you will always find three elements in common.

1 | Exclusivity

Typically, the goal is to get as many people into your event as possible but that’s not the case when your event is meant for a UHNW audience. Once Upon A Kitchen applies this principle by limiting access to only 300 guests, pricing tickets at a range from $1,500 to $5,000. The more rarified the location and limited the access, the more desirable an event becomes.

2 | Very High Pricing

The wealthy are no strangers to the world’s finest cuisine but to duplicate the fare they would have to travel to the restaurants all over the world including France, Italy and Brazil. Any event meant for this audience adds to its aura by being prohibitively expensive. To deliver on the promise of being a one of a kind or bucket list level event this year’s Once Upon A Kitchen event is bringing together:

  • Massimo Bottura – Owner/Executive Chef, Osteria Francescana (Italy), World’s 50 Best Restaurants (#1, 2018)
  • Mauro Colagreco  – Owner/Executive Chef at Mirazur (France), The World’s 50 Best Restaurants (#3, 2018)
  • Alex Atala – Owner/Executive Chef, D.O.M. (Brazil), 4th Best Restaurant in the World (2012)
  • Antonio Bachour – Winner of The Best Chef Awards 2018’s Best Pastry Chef award
  • Roberto Cipresso – World-renowned Winemaker & Host of Once Upon A Kitchen

3 | Partnership with Elite Brands

Not all sponsors are the right sponsors for the UHNW market. Brands that want to be a part of events that target the wealthy should be prepared to create bespoke experiences that WOW. This audience is not easily impressed. They are used to exclusive access, to being treated like royalty and have traveled and dined at the finest destinations. So to connect with them, you have to bring in bold entertainment, engaging activations and price is no object partnerships. These should include luxury vehicles, yachts, fine wines and spirits.

The lifetime value of a new client in this channel can be very significant. For brands whose survival is predicated by cultivating UHNW audiences one of the most effective ways to connect and demonstrate your brand character is through and elite event like Once Upon a Kitchen. The right event or experience can be a brand’s best pathway to connecting with luxury consumers.  By following the principles of exclusivity, very high pricing and partnering with other elite brands you ensure that your event.


Want more? Join TheSponsorshipGuy.com’s mailing list and get insights and updates every couple of weeks.

About Larry Weil:

Sponsorship engagement strategist and customer acquisition specialist for some of the nation’s most recognized brands Larry has over $200MM in sponsorship transactions to his credit. He has a Rolodex of over 4,000 brand and industry contacts. Larry is an expert seller, negotiator, presenter, and strategist. He has successfully represented properties and sponsors in numerous categories including Conferences, Trade Shows, Convention, and Visitors Bureaus, Entertainment and Sports Properties, and Tech.

Posted on

3 Benefits of Partnering With Food Driven Communities

Partner with Food Driven Communities

There are many advantages to sponsoring a food centered or food driven event because food has a way of connecting people in ways that even music and sports cannot. These partnerships present unique opportunities that lead to major results.

Benefit #1 | Food event attendees actually want to be educated.

Education - Partner with Food Driven Communities

Sponsors often spend a lot of time trying to figure out the best way to engage or entertain consumers long enough to actually educate them about the product. This problem is almost entirely negated when you partner with food communities for whom the questions “How is it made?”, “How does it work?” and “How can I use it?” are required fields. Whether you have a new ingredient, cooking device or app – if it will improve how attendees at a food event eat or enjoy food then they will want to hear about it.

Benefit #2 | The food community has a vast array of own superstar influencers.

The worlds of live events and Influencer Marketing will be further connected in 2019 and the food industry is no different. Blue Apron’s recent partnership with Chrissy Tiegen With most food influencers only reaching their audiences online from their homes or kitchens, live events create an opportunity for them to connect with their fans. Sponsoring an appearance, activation or social takeover with a key influencer at a food driven event is a great way for your brand to turn those fans into your consumers.

Benefit #3 | Food communities love to share on social.

In 2018 there were over 76, 239, 441 images of food shared on Instagram. People love posting photos and now, videos of or about food. The World Food Championships (which recently announced a move to Dallas for 2019) boasted 23.6 million Social Media impressions in 2018, doubly 230% from 2017. Sponsoring a food event all but guarantees social engagement for your brand.

There are a lot more than three benefits to sponsoring a food event and I would love to share more of them. Please share your thoughts on food event, communities and influencers and some of the best events, practices and activations.


Want more? Join TheSponsorshipGuy.com’s mailing list and get insights and updates every couple of weeks.

About Larry Weil:

Sponsorship engagement strategist and customer acquisition specialist for some of the nation’s most recognized brands Larry has over $200MM in sponsorship transactions to his credit. He has a Rolodex of over 4,000 brand and industry contacts. Larry is an expert seller, negotiator, presenter, and strategist. He has successfully represented properties and sponsors in numerous categories including Conferences, Trade Shows, Convention, and Visitors Bureaus, Entertainment and Sports Properties, and Tech.

Posted on

Great Data Wins Sponsorships: Where to Find it and How to use it

Great Data Wins Sponsorships

Photo by rawpixel on Unsplash

Have you ever completed a form that asks you for your Age, Sex, Race, and Income? Kind of feels like it is none of their business, doesn’t it? Being a 25 to 35-year-old white male is a pretty diverse group. It is hard for a prospective sponsor to draw many insights from that information. Do they like beer? Do they like sports? What if this is a religious event? What if they are an international audience? These kinds of categories are just too broad for most events and are classified ineffectively to identify alignments or add insights that sponsors value.

Every sponsor prospect wants to know about your audience. Understanding your audience creates two distinct advantages:

  • You can use the information to better identify prospects that want your audience
  • This data makes a powerful argument that they are in the right place

Why demographics don’t win sponsorships

Today, brands and businesses rely on two data points to understand their target audience: psychographics and behavioral analytics.

Psychographics is focused on collecting and analyzing the characteristics of an audience, the intangible, such as interests, habits, opinions, lifestyle, attitudes, emotions, and preferences. Psychographics are thought to help explain why people buy.

Behavioral analytics is focused on how buyers act and why. These insights are the result of tracking behavior online and includes eCommerce platforms, online gaming, web, and mobile applications and can be very effective in predicting future behaviors.

Let’s contrast and compare our imaginary 25 – 35-year-old male using all three types of information:

Demographics Psychographics Behavior
Male Loves Live Music Visits Music Venues most weekends. Subscribes to Spotify
25 to 35 years old Health and Fitness a priority Works out 3-4 x per week
White Close to family and values friendship Uses FaceTime to stay in touch
Income Enjoys online social networks Posts from Music Venues on Instagram
Single Wants to advance career Actively searching for online continuing education opportunities

While this is a very simple example it is plain to see that each step beyond traditional demographics creates a more helpful picture of our imaginary 25-35-year-old male.

Where to find psychographics and behavioral analytics

Opening a deck and finding information other than some general demographics such as age range, attendance, male to female ratio is very uncommon. However, gathering this information at the point of sale is fairly easy to do.

Here are some resources that you likely have:

  • Event ticketing and registration technology. If you’re not selling tickets or registrations online, you’re missing out on potential sales — and valuable insight about your attendees. “Your event ticketing and registration platform should do more than accept payments,” says Eventbrite Content Strategist Ronnie Higgins. “If your events are on Eventbrite, for instance, you can pinpoint the source of sale and use Google Analytics to analyze traffic to your event page,” Higgins suggests segmenting visitors who bought a ticket from those who didn’t. From there you can learn what type of device they use and their interest categories, for example, if they are Foodies or DIY enthusiasts. These categories are the same ones that brands use to target their display ads, so now you are really speaking their language
  • Facebook Audience Insights. If your property has an email list that you own, you can upload it and it will give you back a profile of the cohort. It will tell you what pages they like if they are in the market for a new car, new running shoes or like to cook. Of course, this is past attendees, but if you are in your nth year of running your event, this is great data.
  • Surveys. Utilize your email list, onsite polling, and post-event questionnaires to collect insights. Providing an incentive such as a drawing for tickets will yield lots of information. Just be sure to keep the length to no more than ten questions and per the advice above ask about interests and lifestyle rather than age and income.
  • Event Applications. If you have an event app it will collect lots of information about your attendees far beyond their name and email address. In addition to registration information, you can glean insights about the popularity of content, create surveys, question and answer engagement from speaker sessions, the popularity of content by download, social engagement, lead tracking utilization, gamification, polls, and quizzes.

Consider how much better your sponsor pitch, phone call or email would be with deeper insights:

General Specific
“Our Food and Wine Festival has over 30,000 in attendance over two days” “Our Food and Wine Festival features year around engagement of over 200,000 self-described “foodies” through our segmented mailing lists, website, social media, and our annual festival”
“The Fun Run for Charity is in its 12th Year” “Our Fun Run is popular with over 5,000 families with young children at home, who value a healthy lifestyle”
“Women are the largest buying segment in the country” “Our event is primarily composed of professional women of color, who are focused on advancement in their profession and are tech savvy”

The more you know about your audience makeup, values and behaviors the more likely you will be able to create a compelling case to your prospective sponsors. Big companies and therefore big sponsors live in the world of data. They always prefer working with properties that know their audience.


About Larry Weil:

The Sponsorship Guy Larry Weil

Sponsorship engagement strategist and customer acquisition specialist for some of the nation’s most recognized brands Larry has over $200MM in sponsorship transactions to his credit. He has a Rolodex of over 4,000 brand and industry contacts. Larry is an expert seller, negotiator, presenter, and strategist. He has successfully represented properties and sponsors in numerous categories including Conferences, Trade Shows, Convention, and Visitors Bureaus, Entertainment and Sports Properties, and Tech.

www.TheSponsorshipguy.com

Larry’s LinkedIn Profile


Want more? Join TheSponsorshipGuy.com’s mailing list and get insights and updates every couple of weeks.

Posted on

Your 18-Month Event Sponsorship Timeline

18-Month Event Sponsorship Timeline
This post was originally published on the Eventbrite blog. Read the original post here

Are you connecting with sponsors at the right time of year? Because when it comes to creating sustainable relationships, timing is key.

With over two decades of experience and over 4,000 brand and industry contacts, President of The Sponsorship Guy™ Larry Weil has some tips to make sure you’re connecting with sponsors at the right time.

It’s never too early to nail down your festival sponsors — but it’s usually too late.

If you want to sell high value sponsorships, use this timeline to make sure you find the right sponsors, secure their partnership, and get them to sign on for another year.

Learn what you can be doing year-round to win over your sponsors.


12–18 months ahead of the event

BEST TIME OF YEAR

Dec, Jan

ACTIVITIES

Market research

Collect info about your attendees— key behaviors, interests, and spending habits. What type of activities do they like generally?
Ex: if your attendees love luxury travel, spas and resorts should
be on the table.


12–14 months ahead of the event

BEST TIME OF YEAR

Dec, Jan

ACTIVITIES

Identify companies and contacts

Make a list of potential sponsors and research them. Learn everything you can about those brands — look through the company’s website, press coverage, and social media accounts.


10–12 months ahead of the event

BEST TIME OF YEAR

March, April, May

ACTIVITIES

Design campaign

Create your outreach strategy. How many emails will you send and phone calls will you make? What’s your social media strategy? When are you sending your press kit? Create your schedule.


10–12 months ahead of the event

BEST TIME OF YEAR

July, Aug, Sept

ACTIVITIES

Launch campaign

Start pushing out your content. Use your CRM to track your outreach — your phone calls, email sends, and social media contacts. Get potential sponsors excited about your event.


2–12 months ahead of the event

BEST TIME OF YEAR

Feb, Oct

ACTIVITIES

Set up call or meeting

Don’t sell during this first meeting. Instead, discuss the prospect’s goals and establish their needs. That will allow you to design a proposal that’s unique to your potential sponsor.


2–10 months ahead of the event

BEST TIME OF YEAR

Anytime

ACTIVITIES

Invite prospects to event or property

What better way to get your sponsors excited about your event than to actually show them? If you have the opportunity, invite them onsite to check out your event.


2–12 months ahead of the event

BEST TIME OF YEAR

Feb, Oct

ACTIVITIES

Present final proposal with pricing

Sign your contract. Next, you and your sponsor should begin advertising and marketing plan your partnership.


At the event

BEST TIME OF YEAR

Jan, Dec

ACTIVITIES

Collect testimonials and proof

During your event, take pictures of attendees interacting with your sponsor — visiting their booth, wearing or holding their swag, talking to the reps. Collect video endorsements from attendees.


2–3 weeks after the event

BEST TIME OF YEAR

Jan, Dec

ACTIVITIES

Send your fulfillment report

A fulfillment report will dramatically increase renewals and prevent issues. Include anything that will demonstrate the success of your event — actual attendance numbers, news coverage, social traction, and ads promoting your event. Next, you’ll start researching your next round of sponsors.

For more details, please contact me.


Want more? Join TheSponsorshipGuy.com’s mailing list and get insights and updates every couple of weeks.

About Larry Weil:

Sponsorship engagement strategist and customer acquisition specialist for some of the nation’s most recognized brands Larry has over $200MM in sponsorship transactions to his credit. He has a Rolodex of over 4,000 brand and industry contacts. Larry is an expert seller, negotiator, presenter, and strategist. He has successfully represented properties and sponsors in numerous categories including Conferences, Trade Shows, Convention, and Visitors Bureaus, Entertainment and Sports Properties, and Tech.

Posted on

How to Close Your Sponsorship Deal With Data

How to Close Your Sponsorship Deal With Data

Not all data is created equal, says sponsorship expert Larry Weil. Instead, he’s sharing how to close a sponsorship deal with data points that are actually meaningful to prospects, and what insights to leave OUT of your pitch deck.

You have done your homework and have used insights to identify a prospect that is likely to value your property. You have figured out your value proposition. You have captured their interest and got the call or the meeting. You have invested hours in creating an appealing presentation. You have told your story, captured their imagination. You can feel it, they are interested. It wasn’t easy to get here, but you are now way down the sales funnel.

The next step is the going to be analytics. Your prospect will ask for the data to measure the potential performance of your proposal. You send them your web, social, demographics and attendance. A few days go by. Things start to slow down. Calls aren’t getting returned. Everything grinds to a halt. What went wrong?

Big brands are sophisticated about data. They have likely invested millions and millions of dollars in collecting, analyzing and reporting the information they need to make decisions. If you want them to take your sponsorship proposal seriously, you must be able to speak the language of data and provide them with insights that validate choosing your property for partnership.

If you are a Winmo user as I am, you are already used the platform to identify the prospect, understand how they spend their marketing dollars, identify triggers, budgets, even how to appeal to individual decision makers.

Why do you do this? Because it helps you make much better decisions about who is a good prospect and who is not. But are you giving your prospect a similar quality of data that allows them to make the right decisions about working with you? My experience is that in many cases the answer is no.

So how do we fix that? Let’s start by identifying what kind of data is and is not going to help you close deals.

The Sponsorship Data That Doesn’t Matter

When I am onboarding clients one of the first things we ask about is what kind of data they have. Usually, they respond with:

  1. Event data: Attendance, traffic, run of show
  2. Social data: Facebook, Instagram, Twitter
  3. Website data: Views, clicks, time on site
  4. Demographics: Age, Gender, Income

I try to help my clients understand that these measurements mostly don’t get to the root of what is most valuable to brands. It won’t present your property as having more than a rudimentary level of data. I’m not suggesting you throw these insights aways; I’m suggesting that it won’t close any deals. Here is why:

  1. Event data like attendance is often exaggerated and hard to verify
  2. Social data value is about engagement and alignment in volumes that move the needle for the prospect. It is as much about the quality of the content and alignment with the prospect’s desired audience as it is about the number of followers
  3. Website data: The value of views and clicks without the context of who is viewing and clicking is almost nothing.
  4. Demographics: If you are still talking about demographics I suggest a reboot. Here is what I mean: Demographics may tell you that your audience contains a large segment of women 18 to 35 years old. But your prospect is going to want to know if these women working professionals or stay at home moms, what are their interests, what are their values, do they shop online? Basic demographics don’t tell you anything about their lifestyle, values, attitudes, and preferences, which is what determines why and how they buy.

Close Your Sponsorship Deal With Data That Matters

To get to the information that will get the deal closed, try thinking about this the way to prospect would. They need some data that proves what you say and makes your property a match and worth the investment. Here some key data points that will help close the deal:

  1. Audience Alignment: Provide human insights. What are the values, goals, and lifestyle of your audience that confirm that they are who your brand prospect wants and will pay you to access? How do you know this?
  2. Level of Engagement: Go beyond clicks and likes. How long is your audience engaged? What engages them? How do they participate? What are they saying and doing? What content or activities do they engage with and why?
  3. Volume, Frequency, and Scale: Once you have convinced the prospect that the audience is aligned and engaged, provide data that demonstrates that it is in a meaningful volume. A thousand new prospects a year isn’t going to be worth the time to a big brand.
  4. Cost per, vs. other alternatives: Your competition for this business may not be others in your same business segment. If you are an event, you need to know that your cost per new customer for your prospect compares favorably with other channels. If your CPM is $200 and your prospect can get the same quality of leads from a TV or Digital campaign for a CPM of $15 you are sunk.

If you can use data to show that your attendees or audience is the one the prospect values, that they are engaged in a meaningful way, that you have a large number and that you can provide them at a competitive cost. You will close the deal.

For more details, please contact me.


Want more? Join TheSponsorshipGuy.com’s mailing list and get insights and updates every couple of weeks.

About Larry Weil:

Sponsorship engagement strategist and customer acquisition specialist for some of the nation’s most recognized brands Larry has over $200MM in sponsorship transactions to his credit. He has a Rolodex of over 4,000 brand and industry contacts. Larry is an expert seller, negotiator, presenter, and strategist. He has successfully represented properties and sponsors in numerous categories including Conferences, Trade Shows, Convention, and Visitors Bureaus, Entertainment and Sports Properties, and Tech.

Posted on

How to Win Sponsors for Your Event (and Bring Them Back Every Year)

eBook-How to Win Sponsors for Your Event (and Bring Them Back Every Year)
This post was originally published on the Eventbrite blog. Read the original post here.

Sponsorship can mean the difference between turning a profit — or a financial disaster.

Imagine you didn’t win over the sponsors you needed for your festival or event, so you’re left footing the bill for items your sponsors would have covered. You’re then forced to provide a subpar experience because your budget is tight. Then, attendees (and the press) condemn you on social media.

Don’t let that happen to you. Find out how to get into the heads of sponsors — and create relationships that are long lasting and mutually beneficial.

Download this ebook to learn how to:

  • Better vet sponsors to ensure they’re a good fit for your event
  • Effectively prove your value proposition
  • Retain your most valuable sponsors, instead of starting from scratch with every event

Preview

Finding Your Sponsors

In a saturated market, events are looking for new ways to stand out. The right sponsors can be a major draw for your attendees, and can actually be the deciding factor for attendees on whether they click “Buy” — or if they pass you by. That means in the near future, brand partnerships could be the difference between building a sustainable business — or stalled ticket sales.

But some brands might already be in multi-year contracts. Some brands might be more interested in your competitor (or already sponsoring them). Some brands might not be the right fit for your audience. So how to do you find the right sponsors for your brand? First things first: Do your homework.

Making Potential Sponsors Fall in Love With You

Whether you’re a pop-up bridal show or a multi-day car show, the key to winning the right sponsors is proving your value.

“If there’s one thing I would underscore, it’s that every sponsorship should be approached as a collaboration, a partnership based on customized goals and execution” says John Riccardi, Strategic Account Manager at Eventbrite. Now on the music team at Eventbrite, Riccardi previously managed sponsorships for various large-scale promoters and festivals.

Want your sponsors to see you as a true partner? Here’s how.

Mistakes to Avoid

Sponsors talk — so if you damage one relationship, you’ll damage them all. Here are four mistakes to avoid to make sure you don’t become a sponsorship pariah. Share this list with anyone on your team who interacts with sponsors.

Managing Your Relationship With Your Sponsor

According to IEG, nearly six out of 10 sponsors are looking for an early exit to at least one of their sponsors. To make sure you’re not one of them, you need to continually maintain that relationship — and prove your worth.


Download the eBook

For more details, please contact me.

Posted on

The Sponsorship Guy’s Secrets to Success – Eventbrite Interview

3 Secrets to Success - Eventbrite Interview
This post was originally published on the Eventbrite blog. Read the original post here.

Sponsorship is a multi-billion dollar industry, with an annual growth rate that has surpassed advertising and other forms of marketing. Yet this steady growth rate doesn’t mean it’s easy to find sponsors for your event. If anything, it’s harder than ever to secure them!

In fact, a recent ESP survey found that 58% of sponsors said they planned to end a sponsorship prior to the contract term — a 28.8% increase from the previous year. So how can you grow your sponsorship dollars while keeping the sponsors you already have?

To find out, we at Eventbrite talked to sponsorship expert and founder of The Sponsorship Guy, Larry Weil. Read on to discover his secrets for winning sponsorships today.

1 | Your job is to be a sponsor advocate

Today’s sponsors have many choices for how they will to connect with their target markets. So it’s not enough to sell the activation and call it a day. You have to manage that relationship and stay relevant to your sponsors.

“The important part is to remember that there are more things that sponsors have to choose from than ever,” Weil says. “They’re also measuring more than they ever have. And if you get to the mid-season or the middle point of a sponsorship deal, and you don’t know how the performance is, you’re not doing the job.”

So what does success look like? Practicing basic client relationship skills, including:

  • Knowing what fulfillment means for each sponsor
  • Understanding their objectives and how you will measure them
  • Staying in touch and reporting back regularly

2 | Remember that everything is not a great match for everybody

Sponsors today don’t have time to go through your sponsorship deck and figure it out themselves. They’re looking for strategic partnerships who will support them to meet their goals.

“It’s all about them,” Weil says. “You have to get your value proposition in the first five or six seconds and that requires study… What’s the value [to the sponsor]? ‘We help engage this audience.’ ‘We help reduce costs X.’ That’s what you have to be able to do.”

The most important thing? Listening to your potential sponsors, because they’ll tell you what they want. Then you can get them into a conversation, so you can find out things like:

  • How they acquire their customers
  • Their most successful channels
  • What their goals are

3 | You need data to stay competitive

Technology has changed everything for events, including how sponsors measure their return on investment. That means you need to know where to find the right data and how to report it.

“Data is where the CMOs are today. People get a lot of data on television advertising, digital advertising, and if you don’t have some of that to give them on what they’re doing around your event, then you’re going to be at a disadvantage when they’re deciding how much they’re going to allocate to events and how much to not events,” says Weil.

Take your event app, for example. You can find out information like what apps attendees are using, how did they get to your event, what influencers do they follow. With that data, you can:

  • Identify opportunities for your sponsors you would never have considered
  • Support what you’re doing right with your sponsors and fulfillment reports
  • Even change where staff is located by monitoring traffic at your event

For more details, please contact me.