Sponsorships remain one of the primary ways to fund events, including virtual events. Especially in this post-pandemic world, when generating profits from ticket sales is increasingly becoming more challenging, securing sponsorships for your virtual events can make or break your virtual event’s ability to generate income. In some cases, sponsorship is so critical that it’s impossible to host the event without it.
Yet, it’s no secret that attracting new sponsors for virtual events can be easier said than done. Proving a virtual event’s value to potential sponsors can be easier said than done, and making the right impression to prospective new sponsors for your event is crucial (and challenging)
“Making the right impression to prospective new sponsors for your event is crucial”
With that being said, in this article , you’ll learn all you need to know about how to attract new sponsors for your virtual events, as well as some actionable tips and tactics for securing virtual sponsorships.
Virtual Event Sponsorship: What are Sponsors Looking For?
It’s important to remember that sponsorship is a two-way deal: you need these sponsors to fund your event, but on the other hand, they’d like something of value by partnering with you (and your virtual events.)
So, what are these values they are looking for in a virtual event? Why would they want to partner with you and fund your event?
While different sponsors may have different reasons for financing an event, most of them have at least one of these three main reasons:
Promote their brand (building brand awareness): sponsors fund events for the chance to amplify their brand exposure and build awareness among your event’s attendees.
Connect with leads and prospects (lead generation): find and connect with your event’s attendees and convert them into leads while establishing their thought leadership and credibility in the niche.
An empty view of the ‘smartie tube’ pedestrian walkway at the Scottish Event Campus (SEC), Glasgow
Sell their products or service at your events (direct sales): pretty self-explanatory, selling their products or services to your event’s attendees during and after the event to generate revenue.
So, when developing strategies to attract new sponsors for your virtual events, the key is to be able to communicate your event’s value in these three areas so you can convince them to finance your event.
