Sponsoring a conference might be costly, but the reward could be new business relationships.
Sponsoring conferences is a popular way to market your business and support industry partners. In today's economy, many businesses are facing limited budgets and making more cost-conscious decisions, forcing them to be very selective in their sponsorship efforts. When deciding on sponsoring a conference, consider the investment, who you are targeting and how the sponsorship will affect your brand.
Instructions
1. Calculate return on investment. The No. 1 factor in deciding which conference to sponsor is return on investment (ROI). Essentially, if one of your conference options has less potential to provide a positive return, then you will want to consider an alternative option.
2. Consider demographics. Sponsor events that provide the greatest opportunity for you to have face time and advertising opportunities with your desired demographic and key decision makers. Research each event, and work closely with the conference coordinator. In many cases, sponsors can receive a participant list upon request. This will save a lot of time and could potentially open doors before the conference to potential revenue sources.
3. Price the conference. While many companies could benefit from participating in larger conference sponsorships, it's important to take into account the expenses that go into such an event. Conference sponsorship fees, display/vendor booth transportation, traveling fees and loss of daily productivity must be calculated, and compared to the expected ROI.
4. Determine the effect on your brand. In most cases, conference sponsorships provide opportunity for brand marketing; advertising, product display and client interaction. The key to brand marketing at a conference is positioning. When investing in a sponsorship, your product should be displayed in a manner that allows for visibility. Positioning your product in the highest traffic area will provide greater added value to your sponsorship, and will assist in your overall effort of achieving a positive ROI.
