And Now a Word from Our ______
Probably 98% of you reading this have been conditioned to complete that sentence with the word “sponsor.” What follows could be a jingle, a spokesperson, a celebrity, or a celebrity spokesperson singing a jingle (Hello, Barry Manilow!) Media agencies have dedicated years to creating memorable moments. Sponsorships come with a price tag, but if done correctly, they provide memorability not just for the moment but, in the best-case scenarios, for years to come.
Agencies know enough to bring in the right talent for sponsorship memorability, talent such as the aforementioned Barry Manilow, who explained that brands give jingle writers the lyrics and ask them to come up with the melody. Can you sing along to “Like a Good Neighbor, State Farm is There” or “I am stuck on Band-Aids”—just two of Manilow’s melodies that are planted in our collective consciousness. Manilow received a Clio for his work—and his clients have gotten their money’s worth over the years. Recognizing brands because of sponsorships is the litmus test for memorability.
Sponsorships can come with substantial budgets for both production and placement, which is why they deserve our consideration. Media-based sponsorships, although they have their place in the pantheon of advertising, are also an annoyance that has led to ad-blockers or, for those old enough to remember, fast-forwarding through the jingles. The ROI for sponsorships ideally is measured by sales and word-of-mouth (like ranking the ads for the Super Bowl sponsors).
Typical Event Sponsorship Opportunities
But wait! Consumer marketing, including sponsorships, with its familiarity, implants itself in our everyday life. If you’re reading this newsletter, you are probably thinking, “But what about B-to-B marketing and sponsorships?” Good thought! Let’s go one step further and explore B-to-B initiatives that are connected to live events. Sponsorships at events are a nearly indispensable source of revenue for show managers and associations. The published price per square foot of event (or exhibit) space hardly covers the cost of event production, but, more importantly, it certainly doesn’t leave much wiggle room for profitability. How to make up for the shortfall? Sponsorships!
Here’s how it usually works: the association or event management company usually offers exhibitors a list of sponsorships “to get your name out there.” The list usually includes legacy opportunities like banner ads or hanging banners; key cards for attendees’ hotel rooms (although those are going the way—hopefully—of single use plastic bottles as more and more hotels offer phone-activated room entry); lanyards (truthfully, do you wear a lanyard if it is branded with a competitor’s name?); meal functions where a representative from a sponsoring company gives a welcome speech, or worse, shows a corporate video;–or “show bags” with the event name on one side and the sponsor’s name on the other. Then there are sponsorships, such as escalator handrail “wraps” or analog ads on the inside of bathroom stall doors, or plastic bag room drop bags that usually contain reminder brochures, articles submitted by exhibitors, or perhaps a granola bar.
Let’s take a test: what company’s brand was on your last hotel key card? What did you do with the stuff in the show bag (unless it was edible, in which case you either tossed it or ate it)? Which company sponsored the last meal function you attended? For extra credit: Did you recycle that lanyard, key card, or plastic room drop bag—or did you add it to the tons of waste generated by events?
What did you get from your investment in a sponsorship at your last trade show? In a corporate environment where expenditures are expected to yield a return on investment, how did your last sponsorship perform? Did anyone in the target audience approach you to thank you for putting your name on the keycard? Did your lanyard investment create memorability? Is there an alternative to the mindless process of selecting a sponsorship from a list, based on what you can afford, and sending in your artwork for show bag or lanyard production?
Yes, there is. However, it requires you to take a different approach and think about sponsorships in a new way.
Start Thinking Strategically About Your Event Sponsorships
Sponsorships should reflect your company’s core values. Planning a sponsorship should be part of your event strategy, which means developing a consistent approach to reach the audience through sponsorships and activations that reflect your entire event program. How do you do that?
- Start early. At your initial event strategy meeting, decide on the value or hallmark of your company that you want to showcase through a sponsorship or an activation that reflects your overall event strategy.
- Determine how you will create an activation to engage attendees and help them recognize your core values.
- Discuss your plan thoroughly with the show management or the association. Be willing to compromise, but don’t settle for a sponsorship that muddles the message you want to send.
- As we mentioned earlier, sponsorship revenue helps keep the lights on. Negotiate with show management to put a price on your idea. This will likely not include production and other costs, so be sure your budget is sufficient and that your idea is exceptional.
- Your active involvement in creating and executing the sponsorship is critical. That’s a major difference between an off-the-shelf idea and your own.
- Develop a PR plan for your sponsorship, considering options like social media, industry press coverage, broadcast, and any other opportunities you can identify.
- If your sponsorship is successful, show management will want to offer it to exhibitors next year. Be sure to grandfather in your right of first refusal, as your sponsorship could become a definitive brand asset.
PS: Want to see a sponsorship activation that ticks all these boxes? See our recent case study to learn how Boehringer Ingelheim created a showstopping sponsorship that placed their core values front and center.
