Due to the shifting nature of work in the current global environment, virtual events have become more critical than ever. And sponsorships play a vital role in monetizing such events.
Getting the desired sponsorships is a challenge for virtual event planners today, as they struggle to provide sponsors with the same level of branding opportunities virtually that physical spaces did.
Sponsors have to understand and see the value in what your virtual event offers. Hence it is essential to learn what they are looking for in your event and their goals. The primary goals of sponsors in any event, physical or virtual, include:
- Gathering leads
- Making meaningful connections
- Building brand recognition
Hence, establishing effective connections and networking between your sponsors and the attendees should be the chief objective of your events. Let us look at some of the strategies you can engage to deliver value to your sponsors through your virtual event:
Appreciate Your Sponsors
Appreciating your sponsors is crucial and shows that you care about the value they perceive in your events. To show your appreciation for your sponsors, Onlive allows you to dedicate a section to them on your event website and create sponsor tiers as well.
You can add the sponsor logos in the tiers, so they are visible as a widget under the ‘Event Sponsors’ section. Besides that, while setting up sponsors in your event, the platform allows you to customize their logos, biographies, etc., add their social media URLs for the people to reach out to them easily.
Use the Virtual Space
Virtual spaces in events can provide excellent networking and sponsorship opportunities along with a good environment for interaction. Through one of its flagship features, Onlive gives you the opportunity to create such virtual spaces for networking by implementing breakout rooms for your events.
Not only can they be used as rooms to have small conversations, but also as sponsor rooms to help them better engage with the attendees and expand their reach among their target audience.
You can set up as many breakout rooms as your event needs and each can hold up to 18 people in each of them. People can brainstorm and explore future ideas, collaboration plans, and even “speed date” using 1:1 video calls.
Provide relevant data
One aspect of event sponsorship is proving your impact. Virtual event platforms like Onlive help you gather relevant data during your event through different reports to prove the sponsorship’s value and show the sponsors what they got for their investment.
Some of the reports that the platform provides include:
Virtual platform reports with key statistics like-
- Total number of people that have logged into your event platform
- Turnout (number of registrations, attendees, and no shows), which is one of the most important pieces of event data to show event success
- App activity (a detailed report on the guests’ interactions in the event, including comments, poll responses, session views, etc.)
- Engagement app (to see important engagement metrics like meeting bookings, bookmarked sessions, messages sent, etc.)
- Detailed statistics related to individual streams (views, polls, quizzes, questions, polls, etc.)
Revenue reports that help you-
- Monitor event revenue and determine your event success
- Monitor transactions and previously created vouchers
- Measure key metrics like gross revenue, gross revenue by ticket class, and revenue over time.
Registration reports to see-
- The total number of registrations in your event
- Registrations by ticket classes to see the best-performing ticket class
- Total number of registrations in a country-wise breakdown
- See registrations by referral source
Onlive supports event gamification for enhanced interaction and engagement in your event. By conducting quizzes, virtual games, etc., you get the opportunity to promote your sponsors through game rewards.
You can offer swags, free appointments, or even gift cards from the sponsor brands to the winning participant. Besides increasing audience interaction, this will help you:
- Increase sponsor engagement
- Promote brand interaction
- Provide greater value to the sponsors
- Increase ROI
Event sponsors want to promote their brands and generate leads for themselves. And your event should provide them with a conducive platform to help them do so. With vastly customizable and easily accessible virtual events platforms like Onlive, you can help sponsors promote their brand by providing opportunities for:
- Designing the attendance checker app with relevant brand background, banner, and logo to fit the brand guidelines
- Adding a banner, brand logo, tagline, etc., on the event registration site
- Customizing invitations, nudges, and thank you emails with brand banners
- Playing a sponsored ad right before your event
- Including the sponsor logo at the corner of the screen
Such customizations make it easier for the sponsors to spread their word and impossible for the audience to miss the brand.
Networking plays a crucial role in sponsorships to help build meaningful connections. Onlive provides the networking function to help the sponsors and attendees book one-on-one video meetings with the meeting booking feature.
Furthermore, they can also use the business matching feature to ask survey questions to others and find suitable matches to network with, based on their matching preferences. It not only helps the sponsors find the right people but also encourages relevant and productive conversations.