Cutting a cheque is just the beginning — you need to build an event strategy
Sponsoring an event can provide many benefits for your business, particularly when properly aligned with your target audience and brand positioning.
Participation can generate familiarity, trust and positive brand sentiment with an audience you otherwise may not have the ability to connect with on your own.
Creating an on-site brand activation can increase visibility and improve your image, but only if it is done correctly. If executed poorly, you could be investing money into creating a negative association with your business.
There are many elements to consider and evaluate when entering into a sponsorship agreement, ranging from strategic, legal, financial, and operational.
Among the first questions to ask, whether you’re planning to participate in a golf tournament, professional industry networking conference, or charitable fundraiser, is if it aligns with the image and values of your brand.
Before committing, it is important to identify whether the audience is aligned with your target market. Is the event within your PMA (Primary Market Area)? Will attendees match up with the age, income and interests of your primary demographic? Next, will any of your competitors be there or will you have exclusive rights?
Whatever you spend on the sponsorship itself, plan to spend at least that amount to properly execute and then again to elevate the experience beyond the simple agreement itself. How will you leverage this opportunity to maximize the partnership? Will you host an on-site activation, create social media content, perhaps develop an advertising or PR campaign to reach a wider audience?
Make your presence memorable. Think about how your business will be perceived and plan to have an activation that will engage or educate.
One then needs to establish clear objectives to define what the ultimate goals are for the activation. Are you looking to increase visibility of your brand, or a new product perhaps? Maybe capture leads to build a database, promote test drives, or drive social media engagement? The intention of why you are participating should be clear, as well as how you are measuring success. Establish the metrics and how they will be measured.
Do a site visit to acclimatize yourself with the venue. Take measurements and pictures. Will you need electricity? Security? Do you have a plan for rain or other inclement weather?
It is also important to have team members physically and mentally present. We’ve likely all attended a consumer or trade show where we witnessed a company that invested a lot of time and money to be there and yet their exhibit sat empty, perhaps inhabited only by a couple lonely chairs and a table scattered with some cheap pens and a small bowl of candy. That will do more harm than good to a business and its reputation, so why even bother?
Have team members in clean, professional attire that is consistent with your brand. Ensure that they understand the difference between actively engaging the audience and pestering them with a hard sell. They should be briefed on key messages and well equipped to answer questions, or know how to find answers.
Make your presence memorable. Think about how your business will be perceived and plan to have an activation that will engage or educate.
Design your space to be visually appealing, on-brand and interactive — ideally in a high-traffic area. Consider that you’ll only have a brief amount of time to get your message across to those you encounter.
Offer a value exchange. What will make people stop, take notice and want to spend more time with you? Perhaps display a new vehicle that the public hasn’t laid eyes on yet, offer an exciting contest or an interactive activity that is associated either with your business offering or the theme of the event itself.
If you’re capturing leads, gathering information should be quick and easy. Consider digital forms on tablets or a QR code that visitors can fill out themselves. Be mindful of privacy laws and offer the ability to opt-out or unsubscribe.
Having the opportunity to engage after the event will allow you to increase the value of your participation in the event. Providing discounts for services redeemable at your store, or generating a newsletter database creates the opportunity to continue the conversation after the fact. How will you collect, share and leverage that data?
Encourage visitors to engage with your area and share it on social media, by creating a branded experience, contesting or hosting an exciting brand ambassador.
Also, people love free stuff, but also consider the implications. If the products are perceived as cheap and useless to your audience, they will associate those attributes with your business. Think about the packaging and the litter it may create.
Start planning early and involve the necessary stakeholders. Don’t be afraid to ask questions and be sure to hold a post-event meeting to identify best practices and key learnings for future events while the recent activation is still fresh in everyone’s mind.
