To Sponsor or Not
There are all sorts of B2B events happening around the year. It does make no sense at all to jump in indiscriminately and pay a premium for your branding opportunity. You will not only waste a part of your marketing budget but will also waste the efforts of the marketing and sales teams. There should be a thorough clarity about the nature of the event profile. Some of the factors to consider are listed below:
- Location: The location of the event will be the first criteria to select whether the market the event is catering to is in line with your target market. You should look at the timeline of the event, people will not travel for a one-day event, however, if the event is renowned and spreads across two days you will have more chances of people travelling for this. Another consideration should be the presence of a local team in that region. That can help reduce the cost.
- Target Audience: It is important to have the relevant target audience present at the event, this can be done by scouting the previous year attendee list. It should give you a good idea if the audience that is visiting the event is relevant to your target audience.
- Access to Audience: Some of the B2B events are setup in a format that the audience gets limited time to visit the booths. If this is the case it is important to look at the sponsorship level / options, if the audience has limited time to visit the booths then it is difficult to get attention in this limited time span.
- Cost of Sponsorship: Events are generally expensive, specifically trade shows. When deciding to do an event or skip, the brand visibility should be compared to the cost of sponsorship and what all is included in the sponsorship package.
- Speaking Opportunity: Speaking opportunity provides a great way to showcase your brand. If your sponsorship opportunities provide a speaking slot they should be leveraged.
- Attendee List: If you can get access to attendee list before the event that should be an advantage and can help setup pre-event meetings which can be the difference between a successful and a damp event.
One of the things that can also be looked is the list of repeat sponsors, if you see a trend where the key sponsors have been participating in the event every year, it means this event has been successful for them.
There was a time when letters ruled the roost in the word of business communication. Then came telephone and cold calling, after that slowly the internet crept in every phase of business and e-mail took over. Looking back at those times of classical style marketing and sales, we can see, much has changed in the way the owners choose to showcase a “brand”.
In the present age where Social Media is king and almost everybody is rooting for Social Selling, there remains a far more interesting and perhaps one of the most promising medium that can not only deliver increased brand visibility, but also ensure better lead generation. That medium that we are talking about here is B2B events.
Statistics help find insights and insights help find leads. A probable way that big corporations have employed over decades is mapping the journey from visitor to consumer. With the implode of technology marketers are easily able to track and map the consumer journey. The idea is to help your clients to buy your products/services when they are ready to buy it.
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“They loved the presentation! They cherished me! They can hardly wait to get started!”
I can’t tell you how often I’ve heard these sorts of exclamations from reps throughout my career … and how often I’ve instantly written off the deal as a result. If you’ve been into sales, you can relate – you come out of a presentation riding a high thinking that you smashed it. In any case, this prompts emotions driving forecasts rather than logic.