6 Tips to Attract and Close Sponsorships for Hybrid Events
Hybrid events are relatively new to the industry, and most organizations are still testing its possibilities. Determining what and how to sell sponsorships for hybrid events is also open for discussion.
Looking to kickstart your sponsorship efforts for hybrid events? Here are some tips on how you can find and secure hybrid event sponsorships like a pro.
Understand sponsor requirements
Engage in a conversation with sponsors about their objectives and capabilities for the event. Many sponsors don’t have the human resources or time for elaborate sponsorship activations. While others want to push the envelope on surprising and delighting potential customers.
Keep your sales team well-informed
Make sure your sponsorship sales staff is fully aware of all the sponsorship opportunities available for the in-person and virtual components of the event. This knowledge base must include a thorough understanding of the features and capabilities of the hybrid event platform.
Bundle sponsorship opportunities
Think about bundling sponsorship opportunities. For example, packages may include both in-person and virtual activations, as well as long-term engagements and content assets apart from the event.
Price sponsorships below market value
Consider pricing sponsorships below market value the first year of your hybrid event. This is to compensate for any risks like change in conditions (the in-person component is canceled, for example) or the more innovative elements of the package fall below expectations.
Provide sponsors with detailed metrics
Prepare to provide sponsors with detailed metrics encompassing both the in-person and digital components of their sponsorships. With digital events yielding more and better data than in-person events, the expectations of the latter to be at par with the former will grow.
Plan to be flexible
As the complexity of an event can shift quickly, plan to be flexible. Develop a wide range of offerings (including those with high value but low hard costs), so you can reconfigure sponsorship packages quickly.
Looking to accelerate your event strategy in 2022? Download your hybrid events playbook now!