You’re not sure what went wrong. Your company recently co-sponsored an event that had an amazing turnout. But weeks or even months later, you realize you spent thousands and made nothing back – not one attendee turned into a legitimate lead. Sure, you got some good branding, but you thought this sponsorship would help you close a deal.
What happened?
Last month, Pierponter Sarah Zomper and I attended a Legal Marketing Association Luncheon where Bob Silvy, VP of Marketing for American City Business Journals, discussed the best practices in event sponsorship. Bob said that the key to avoiding the above scenario is remembering that sponsorships aren’t parties – instead, they are business opportunities. And you need to treat them accordingly.
Here are Bob’s top three tips to making the most of an event sponsorship:
- Write a Sales Plan: Planning is the single most important part to a successful sponsorship. Determine a specific sales goal and a step-by-step plan to achieve it, including what your company will do at the event, which attendees you’re going to target and how to follow up with those attendees when the event ends.
The sales plan should also provide a direct, measurable way to show your CEO the leads and opportunities gained from the sponsorship.
- Differentiate Yourself: Sure, you’re plastering your logo all over the event, but so are the other sponsors. Avoid corporate camouflage by using simple creative tactics – such as announcing a hidden gift certificate in one of the gift bags – to engage attendees.
Your employees can differentiate themselves by greeting attendees at the door, staying away from the corporate table and impressing target attendees with knowledge of their recent accomplishments.
- Activation: A single conversation at an event does not make a relationship, much less a client. Soon after the event, reach out to prospects with a personalized thank-you note or an invitation to a follow-up luncheon.
Use these follow-up “touches” to activate a sustained connection with the prospect. Focus only on the relationship – follow-ups should never feel like sales pitches.
Event sponsorships can be exciting business opportunities that introduce your company to new prospects, industries and audiences. By writing a thorough sales plan, having a unique and engaging presence at the event and following up with prospects afterward, you can be sure to reap return from your event investment.