You are the expert on your event. Therefore, you’re the connection between your event and your sponsors achieving their event marketing goals.
You need to ask questions, to learn and gain a better understanding of their event marketing goals.
Sponsors want to stand out from the crowd, differentiate themselves from all of the other sponsors, especially their competitors. So, your responsibility is to be their consulting partner and create a plan that will set them up for success.
Again, here you’ll really be focusing on your larger sponsors, but let’s be careful not to neglect anyone.
Regardless of the total number of sponsors and exhibitors at an event, it’s very common for your larger sponsors to comprise of about 10-20% of your total. It’s simply the 90-10 rule. If you have 200 sponsors and exhibitors, then you likely have approximately 30 top tier sponsors give or take. And again, all of your participants are important to your event, but as we well know, replacing lost revenue from a top sponsor can mean needing to add 10 or more, smaller exhibitors.
So, we do need to pay special attention to our larger sponsors and ensure they are attaining their event objectives.
One very important note here…do your best to make sure your relationship is not strictly transactional with all of your sponsors and exhibitors. You don’t want your only interaction with them to be when you accept their contract and when they owe you money. Become their trade show guru or advisor, their go-to for any questions about not only your event but industry events as a whole. Knowing their motivations and goals will provide you the opportunity to be their trusted source when they have questions about which events to participate within.
Knowing your event and specifically, your audience inside and out is imperative to being their trade show consultant. To take it a step further, being familiar with competitive events and their attendee demographics gives you credibility as an event expert.
Have a conversation
Keep the lines of communication open year-round to ensure you have the latest facts and goals as they happen, to properly advise them on the best course of action. Then you’ll see the actionable results of your conversation – a potential new sponsor!
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