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Like all business partnerships, sponsorships are built on relationships, so it is beneficial for planners to engage and communicate with sponsors throughout the year, not just when they are trying to solicit or renew sponsor support.
“A sponsor’s objectives may change over time, so it’s a mistake to assume that they will just automatically renew without making a great case for why they should,” said Schneider. “Never take your sponsors for granted. We want to continually partner with them in a way that allows us to become an extension of their overall marketing efforts.”
As an example, Schneider mentioned how Northstar Meetings Group recently launched its first-ever eSportsTravel Summit in direct response to burgeoning interest in the esports industry from both sponsors and conference attendees. The event debuted with great success at the annual Teams Conference and Expo in Orlando, Florida, last year, prompting organizers to expand the program into a stand-alone event.
“The needs of your attendees and needs of sponsors often go hand in hand, so it’s important to keep your ear to the ground so that you can create products to meet those needs,” said Schneider.
Be Selective
Though it can be tempting to accept every sponsorship offer that lands on the table, planners should be careful not to cheapen the quality of their event by bringing in too many low-level sponsors. Some business owners may offer to sponsor water stations or other small features just to gain exposure or access to the event, and planners can generally manage those details on their own.
Additionally, many brands strive to elevate themselves through association to other brands, so bringing in one reputable company will often attract another. For example, Tiffany and Company is extremely protective of its brand, and in order to showcase the logo at events, planners must follow detailed guidelines, such as using specific linen colors and silver dinnerware. Most companies would be thrilled to see their name featured alongside such a high-end brand, and planners can use the style and placement of branding as a key selling point in their pitches.
