How to Research, Create, and Price Your Conference Sponsorship Packages.
- Step 1: Research potential sponsors. Create a wish list of sponsors you’d love to partner with, based on industry, location, and past sponsorship …
- Step 2: Make contact with decision makers.
- Step 3: Listen, listen, listen.
- Step 4: Negotiate for the long-term.
- Step 5: Conference sponsorship package valuation.
- Determine Your Audience Size. …
- Outline Your Sponsorship Packages. …
- Look Up the Market Rate. …
- Consider the Actual Value of the Package. …
- Be Willing to Negotiate. …
- Adjust Your Price Points Over Time. …
- Over to You.
How to price your sponsorship packages?
In order to price your sponsorship packages, the first thing you need to know is the size of your audience. The larger the audience, the more you can charge for the event sponsorship package because you’re exposing your sponsor to more people. In most cases, your audience size is the same as the number of people who register to attend your event.
How to get more sponsors for your event?
Mass emails and tiered packages just don’t cut it in the new paradigm of event sponsorship, as brands want more from their partners in today’s data-driven world. Thinking of sponsorships as relationships and crafting a package that meets your sponsor’s unique needs will go a long way in helping you land the right sponsors for your conference.
How big of an audience do I need to charge for sponsorships?
The larger the audience, the more you can charge for the event sponsorship package because you’re exposing your sponsor to more people. In most cases, your audience size is the same as the number of people who register to attend your event. If you don’t take pre-registrations, you’ll need to estimate the number of people who will show up.
How do I Land sponsorships for my Conference?
Thinking of sponsorships as relationships and crafting a package that meets your sponsor’s unique needs will go a long way in helping you land the right sponsors for your conference. Here’s how to do it. Create a wish list of sponsors you’d love to partner with, based on industry, location, and past sponsorship history.
How much should I charge for sponsorships?
Best practice is to budget at least 10% of the gross value of the sponsorship – including any in-kind – for servicing. For this exercise, put your starting cost of servicing at 10% of the cost to deliver benefits plus the cost of sale, as it will grow appropriately as you multiply your baseline fee.
How is sponsorship price calculated?
To determine the fee for a sponsorship, I add together the dollar value of all the tangible benefits a company will receive at a given level of sponsorship, magnify that by the intangible value of association with my event and then factor in any local market pressures either up or down in setting the fee.
How much is a conference sponsorship?
You might pay $100,000 or more to sponsor a major industry conference when you add up all the costs, which usually ends up being more than $30,000 per day. Even at smaller events where the total bill is lower, you can still quickly chip away at a constrained marketing budget.
What should I offer in a sponsorship package?
9 Popular Ideas for Your Sponsorship Packages in 2020Entrance.Ticketing & Badging.VIP Areas.Event Wi-Fi.Photo Booths.Seating & Charging Stations.Digital Scavenger Hunt.Virtual Reality.More items…•
How much do sponsors usually pay?
Sponsors paid anywhere between $0.035 to $0.15 per view to YouTubers in 2020 for sponsored video content on the platform. So in 2022 you can expect to pay up to 10-25% more as demand for creator partnerships on YouTube is steadily increasing. 3.
How much should a sponsor pay for an event?
Most live event sponsorships cost anywhere from $4,000 to $100,000 and in some extreme cases, up to $1,250,000. Virtual sponsorships, on the other hand, usually top out at around $15, 000.
What do sponsors get in return?
Sponsors offer funding or products and services to support events, trade shows, teams, nonprofits, or organizations. In exchange, you get business exposure and a chance to connect with new customers.
How do you get sponsorship for a conference?
Identify Potential SponsorsMake a list of companies that offer products or services related to the subject of the conference. … Research the listed organizations to determine whether they have sponsorship programs. … Contact the organizations to find out whether they would consider sponsoring your conference.
How much does the average conference cost?
How Much Does A Conference Cost? The short answer is about $1,000. In total, I’ve spent over $5,200 to attend the last four FinCon conferences, and it’s been worth every single penny. My advice – in general, I would budget at least $1,000 to attend a small business conference.
How much does attending a conference cost?
Estimate between $125 and $225 per person, per night.
How do you price a conference?
Calculate your conference costs and divide the sum by the lowest projected number of delegates. This’ll give you a good idea of how you should be pricing your conference fees. Or, calculate your conference costs and decide on an “ideal” price to charge delegates.
What is the next step in a sponsorship?
The next step is to evaluate all your sponsorship properties. This includes all your games but also events, VIP days, fan appreciation days, concerts, and any other type of event where your team will be present and there is a chance for you to promote your sponsor.
What happens if you price your package too high?
If you price your packages too high, you run the risk of companies and business not being willing to sponsor you. On the other hand, if you price your packages too low, then you run the risk of not being able to afford the essentials you need to keep your team running efficiently. Image Credit: Sponsorship.com.
What is an activation idea?
An activation idea is nothing more than an opportunity for your sponsors to “activate” their benefits. It can include things like allowing sponsors to come to your event and mingle with your audience, a newsletter blast or having a raffle during your game.
Can sponsorships increase revenue?
There is no doubt that sponsorships can increase your team’s revenue and make it possible to cover your equipment, travel, and any other costs associated with running a sports team. However, you need to know how to price your packages correctly.
Getting sponsorship pricing wrong
First off, don’t try to add up the value of each of the benefits, as sponsorship really is a case of the whole being worth more than the sum of the parts.
Getting sponsorship pricing right
There is no formula, but there is a methodology, and here are the basics.
Need more assistance?
You may be interested in my white papers, “ Last Generation Sponsorship Redux ” and “ Disruptive Sponsorship: Like Disruptive Marketing, Only Better “.
What is sponsorship in marketing?
Now is the time to sit down and listen. Sponsorship is a partnership between your event and your sponsors, and requires a sincere interest in their objectives and how you can help them achieve their goals. The more you listen to your sponsors, the better equipped you’ll be to create custom packages that unlock tremendous opportunities for you, …
Can sponsors help you?
Sponsors can help you take your conference to the next level. But finding the rights ones — and designing conference sponsorship packages they love — can be a serious challenge. One mistake event creators often make when approaching sponsors is to treat them as one-off transactions.
How to get sponsors for a conference?
In order to get sponsors for your event, you’ll need to create a proposal that gets attention. This doesn’t mean you write a proposal with a lot of fluff you hope impresses. On the contrary, you want to keep the proposal short and sweet, but make sure it provides pertinent information your potential sponsor will want to know. Include: 1 Who you are 2 What your event is about 3 Where your event will be held 4 Who will be attending (demographics) 5 How many people will be attending
What is sponsorship package?
The more value you provide in exchange for sponsor dollars, the more apt those companies are to sponsor your event year after year .
What are some marketing opportunities for package tiers?
Some other marketing opportunities to consider for your package tiers could be placing their logo on badge lanyards, sponsoring meals and cocktail hours, and sponsoring ride shares. Exclusivity is Key. The more expensive your package, the more important it is that you don’t sell too many of them.
What are bonus perks?
Bonus Perks. Often, partnering with sponsors results in bonus perks. For instance, if a local restaurant has agreed to be a sponsor, they may not only provide the food for the luncheon but also allow you to host the event in their space, thereby cutting your event costs significantly.
Why is it important to have a memorable event?
For three main reasons: Budget. Creating a memorable event can be expensive! And event planners know they’ve got to keep ticket sales affordable to attract large numbers of people. But the result is that often ticket revenue isn’t enough to allow your event to break even.
How does sponsorship cost vary?
Sponsorship prices will vary depending on a great number of factors related to your event, its audience, and each individual sponsor. The good news is: it’s less complicated than you might think. Sponsors will spend money on anything that improves their business.
What is sponsorship in business?
Sponsorship is a business investment, and sponsors need to see a tangible outcome before they’ll meet with you, much less commit. If your sponsor’s perceived value is higher than your activation price, then they’ll decide to sponsor. And if your cost for activation is lower than that price, you’ll make money.
Do event organizers know what the market rate is for sponsorship?
The majority of event organizers have no idea what the market rate is for their sponsorship. So they tend to guess their value. If you’re using this method, you may win a handful of sponsors, but in reality could be leaving money on the table — or worse, scaring potential sponsors away before you can negotiate.