In the wake of the pandemic, brands are scrambling to rethink their marketing strategies
to keep their audiences engaged. Forced to stay confined within four walls, brands are
trying to think out of the box and explore opportunities that the digital space has to
offer. This has given a spurt to Virtual
Events, where anyone can participate with their smart devices.
Creating sponsorship deals serve as a key element for any event planning strategy. While
sponsorships at on-ground events are tried and tested, sponsorships on a digital
platform is a different ball game altogether. The question that the event planners need
to answer remains the same – what is in it for the sponsors? Let’s discuss in detail how
some event planners have creatively integrated sponsorships in Virtual Events.
- Create Virtual Booths
Sponsors can be offered virtual booths at conferences and trade shows. These not
only promote their brand but also help them drive business. Consumers can browse through
the sponsor’s products and this branded space could serve as a networking area between
the consumer and the sponsor.
- Sponsored Content, Sessions and Exhibitions
Sponsored content can give the attendees a taste of what to expect from the
sponsor’s brand when the sponsors host a session or exhibit their products. This helps
in creating quality content and also adds a human connect value to the sponsor’s brand
which they can leverage on.
- One-On-One Virtual Meets
This opportunity will provide measurable visibility during the Virtual Event.
One-on-one meets are essential to convert potential leads into a confirmed business
deals. Virtual Events are data mines and they provide the sponsors with details about
consumer behaviour which will give the sponsors insight into the consumer’s buying
pattern or level of content consumption.
- Sponsored Games And Breakout Zones
This increases the chances of the interaction of the sponsors with the attendees
at the event. Gamified experiences usually have incentives towards the end. These prizes
can be sponsored goodies which will serve as a constant reminder to the attendees about
the sponsor’s brands and also help with the brand visibility.
Sponsorships, however, are not the only way to monetise virtual events. Virtual events
are surely more cost-effective for planners as compared to in person events. Virtual
events can also help generate higher revenue through proper strategizing and optimal
utilization of their advantages. With Virtual Events, organizers can track
ROI with significant data on their target audience. Virtual Events can be
monetised through a couple of ways which we will be discussing in detail now.
- Charge For Ticket
The most important factor that drives people to attend any event is the kind of
content that the event is offering. If an event has some high-profile speakers and
industry experts sharing their insights and experience with the audience, attendees will
be willing to pay to be a part of that event. There can also be various access passes
that can be created and people can view only what they have paid for.
- Widen The Reach
One of the pros of hosting a virtual event is that you can reach out to a much
wider audience. The wider the reach, the greater the number of people who are likely to
convert from a potential lead to a confirmed one.
- Extend Event Life
Another advantage of hosting virtual is that you need not limit the sales to only
a day. You can extend the shelf life of your event and let your attendees explore the
opportunities over and over again.
Virtual events not only help you stay connected with your target audience during such
crucial times but also help generate more revenue for the brand specially during a time
when the business has slowed down significantly.