Important Tips for Virtual Event Sponsorship

So, let’s talk about virtual event sponsorship, shall we? As we all know, sponsorships have been the Holy Grail of industry revenue for years. It’s a sure-fire way to make sure the money gets through the door, and the planners have spent a good chunk of their time perfecting the art of negotiating good sponsorship deals. That is, of course, until the moment when the industry faced an unprecedented challenge. Now that virtual events are the norm and hybrid events are becoming more common as life slowly returns to what it used to be, it is in everyone’s best interest to learn more about virtual event sponsorship. But where to start? Is it even possible to attract sponsors in this paradigm?

The short answer is absolute. Sponsorships don’t live and Pass away at in-person events! On the contrary, the Online world has the potential to offer even more reasons for a sponsor to want to work with you on a virtual event. Because our team at Endless is well aware of the complexities of this, we decided to create your own guide to sponsoring virtual events. In this article we will explain how to structure and set the price of your sponsorship offers. And next week, we’ll share a bunch of unique and creative ideas to get the ball rolling. So keep reading to become a virtual event sponsorship pro!

Sell Your Virtual Event

Unless you can confidently and accurately sell the value of your virtual event to potential partners, they will have no interest in working with you. And who can blame them? Sponsorship is ultimately a business relationship. If you’re in it for the financial benefits, the sponsors should get their money’s worth somehow. This is probably where things get blurry. You know very well how it goes with an in-person event, but how do you go about virtual event sponsorship?

You’re not just planning a virtual event, you’re planning an experience

Deport the mindset that virtual events are boring and don’t hold a candle to their in-person counterpart. If you don’t believe in the value you add to your audience, how can you expect sponsors to do that? A virtual experience can be as rewarding and exciting as your run of the mill event – and that’s exactly what you need to sell to your sponsors.

This is not just a Zoom meeting where ten people will discuss the Geneva Conventions. No, this is a large-scale virtual event, with great speakers, talented artists, valuable resources, Q&A sessions, exhibitions, etc. There’s obviously a lot of value in what you’re offering, so let’s see.

Harness The Power Of The Online Landscape

There’s a reason why, a few years ago, all the businesses that wanted to stay afloat moved their efforts online. And no, just because all the cool kids are doing it doesn’t mean we’re doing it (it’s just TikTok). But that’s because their audience is there and the possibilities to create curated and personalized content are much greater, while the cost is significantly lower.

As such, sponsoring a virtual event means better prospects at a lower cost. The digital advertising space offers a multitude of options, including videos, banners, and logos. from this point of view, it’s clear that it’s in both of you’s best interest to make a partnership like this work!

Sponsored Speaking Opportunities Are The Real Deal

The idea that virtual conferences just can’t be engaging is wrong. With the right speakers and the best team behind them, speaking sessions can be as entertaining and valuable as the ones everyone is used to. It feels much more devote and attendees can respond and participate in real time, performing a waltz-like dance with plenty of customization options on behalf of the speaker. So why not give your sponsors speaking time?

Not only can this generate a lot of income for you, but it can also provide valuable information and warm prospects to the sponsor side. It’s a win-win situation if you know how to sell it.

The Possibilities Are Endless

In the second part of this guide on sponsoring virtual events, we will share a bunch of ingenious and lucrative ideas that you can use. But from the start, the most important thing to keep in mind and communicate with your potential partners is that the possibilities are endless.

Virtual space really gives you the creative freedom that body spaces often don’t have. Think of it as film versus Theater-they’re both great, but the screen just offers more flexibility. The same goes for virtual events. Sponsorship activation can be done via email, social media, content, speaking opportunities, virtual exhibitions, videos, banners, matchmaking, delivery of nourriture…et much more. In many ways, it can be seen as a unique opportunity. Let the sponsors use it!

Creation Of Your Sponsorship Packages

There are a few different directions you can go in when it comes time to grab your sponsorship opportunities and put them in a nice, fluffy, and irresistible package. The most common, and the ones we recommend you consider, are layered packages and a la carte packages.

Layered Sponsorship Packages

In our article on virtual event pricing, we mentioned tiering as a viable option. Applied to the event itself, this model would cause attendees to pay different prices for different features. And when it comes to sponsoring virtual events, it works the same way. Here is an example of using dummy numbers and potential packages:

Conclusion

And that’s a summary of the first part of this guide on virtual event sponsorship! This is the first taste you get and there is a lot of information to help you get started on the right track. But be sure to tune in again next week-we will share a bunch of creative ideas on sponsoring virtual events. In the meantime, put your new knowledge to the test!