Sponsorship is as much about engaging with the target market through finding unique and creative ways to enhance their event experience. That's where real engagement happens and brand ambassadors are born. Nonetheless, event-holders need to prioritise data as a partnership asset if they are to attract the bigger spenders.
You can start considering yourself to be a data-driven organisation as soon as you've accumulated insights about your customer's preferences and habits. It's not hard to do and many of you are probably already there with a database of your members or attendees.
The key is to add layers to that database by surveying and adding market research. A basic CRM (there are some good ones that are cheaply available online) is a good starting point and even an excel spreadsheet shows you've got data to work. Many larger organisations have great data but its siloed in different departments which makes access and analysis more difficult. Gather the data in one place and layer it with further insights that are relevant to the interests of the sponsor and you'll be in a strong position to attract the attention of a lucrative sponsor.
Traditionally a home show event-holder would be able to say to a potential sponsor such as Bunnings or Masters that 45 per cent of our attendees are families that own their own home. Using data and providing a level of analysis, sponsorship-seekers should now be able to say that 45 per cent of our families that own their own home are looking at renovating an area of their home in the next 12 months and need expert help.
This is how data can change the game because it takes sponsorship from the need to have big attendance numbers to smaller numbers being quite okay – as long as you are capturing their information. You also need to know how the sponsor segments their target market so you can look for common segments within your database. The best way to find this out is to simply ask.
The important thing is that you are providing an avenue for your sponsors to get to know their target market better – their lifestyle, ambitions, likes, dislikes, preferences and buying habits. This information, compiled and analysed, helps the potential sponsor make more informed decisions about which channels to use to market to and communicate with their target market.
Did you find this useful? Want to know more about keeping sponsors happy? Register on www.eventsponsors.com.au and we'll give you everything to ensure your sponsorship partnerships are a success.