Want to be seen as an instant expert? Or, do you want instant feedback on a product you are developing? One of the easiest ways to do this is to sponsor an event.
Whoa there… you are probably saying that sponsoring events is for large companies with lots of money. I’m here to tell you that there are affordable ways to get your name out at a conference even if you are just starting out. For example, we have some very reasonable sponsorship packages set up for Extreme Income Explosion Summit in Salt Lake City and for Take Action Get Profits in New Orleans. E-mail meredith@decisiveminds.com for more information about them.
More than just getting your name in front of your target audience
Sponsoring an event can do more for your business than just getting your name in front of your target audience. Being an event sponsor is good way to set yourself apart from your competitors — and to showcase your products and services.
Because you’ll have a chance to talk one-on-one with a whole roomful of your ideal clients, you’ll be able to accomplish 6 months of market research in just a few days.
Here are a few quick hints to make the most of your event sponsorship:
- Make sure that you have enough of whatever you are giving away. Order at least 25% more than what you are told because the person who you don’t “reach” might have been your ideal client.
- Take advantage of all the benefits available to you as a sponsor (even if you have to create something especially for the event).
- Choose events to sponsor that are going to be filled with your ideal clients. For example, a coach that primarily deals with women entrepreneurs might not want to sponsor the “Men in Internet Marketing” conference.
- Choose your sponsorships based on the lifetime customer value. Do you know the lifetime value of your customer? That is the average amount that a person spends with you over the lifetime of your relationship. So if someone spends on average $1000/year with you and they stay a client for 3 years on average – then their LTV to you is $3000. So if you sponsor an event and you end up with 5 new clients out of that event then you know that those 5 will bring you on average $15,000. If your sponsorship cost you less than that then it was a good deal. And if you do a good job — they will refer others to you — or stay with you over a longer term and you can make even more money. Once you factor that in — the sponsorship ROI numbers will work out much better.
- Do your part to help make the event a success. Promote it heavily to your audience. Try to get as many people there as possible. After all, more people at the event means more potential customers for you.
- If none of the sponsorship packages fits exactly right – feel free to ask for what you need. Event planners want to get as many happy sponsors as possible..
- Make your sponsorship part of your overall sales strategy. Make sure that you have a product or something coming up soon after the conference (even if you have to create it).
I think one of the most important things to realize about a sponsorship is that your goal is to create and build relationships with potential new clients and joint venture partners. If at all possible have someone working the booth with you and if that person can be a client of yours that's even better. It is very powerful for them to talk to someone who is passing the booth and then introduce you. Remember that it is always more powerful for your client to say you are awesome than for you to. LOL
And my super secret tip – avoid saying things like “How are you?” or “Enjoying the event?” when someone is passing your booth. Think of something a little more engaging. I might say “How is your social media strategy working?”
Have you sponsored an event in your industry? What were your takeaways? I would love to promote you to my audience at either or both of my events this year. Are you excited to be a sponsor yet? Send us an e-mail and we can discuss how to get lots of exposure and boost your business this year.
