Maximizing Sponsorship Success: The Power of Event Management Software

Sponsorship management is an essential part of any event. Sponsors do not just offer monetary assistance; they also enhance the experience and value provided to attendees. However, management of sponsorships can be a juggernaut for event organizers. Seriously! The complexity in identifying, negotiating, and fulfilling sponsorships adds to the challenges of event organizing. Event management software can solve many of these problems. 

The best event management software is built to assist event organizers in developing and maximizing event planning and execution. Event management software is equipped with features and functions geared toward sponsorship management. 

In the following sections, we will discuss the position of event management software with sponsorship management; we will discuss how event organizers are challenged by sponsorship management, how event management software resolves these challenges, and features that go toward resolving the sponsorship management process. 

Understanding Sponsorship Management

Sponsorship management consists of several key components that event organizers must be involved in with their sponsors for the collaboration to be successful. These include: 

Identifying Target Sponsors:

Event organizers need to identify sponsors whose organizational values are aligned the event’s purpose and target audience. 

Event organizers need to perform research and analyse industry trends, while trying to understand the potential sponsor’s objectives. 

Identifying and approaching sponsors without a process can be very cumbersome and consume a lot of time and resources. 

Negotiation:

Once potential sponsors have been identified, the negotiation takes place. 

Event organizers and sponsors must come to agreements that are mutually beneficial, making sure to identify sponsorship price packages, Negotiations are not done in a vacuum; they consist of various participants, many contract terms, and many bespoke sponsorship options. A helpful tip is that if you are negotiating a sponsorship contract with your sponsors for an event, you should do so as a multi-year contract instead of just a single event by giving them more value. 

Fulfillment:

Once the sponsorship contract is negotiated, it is time for the event organizer to fulfil the sponsorship deliverable agreements, which includes placing sponsor logos on the sponsorship material, providing space and booths, and executing promotional activities. This requires coordination, quick response times, and attention to detail. 

Streamlined Sponsorship Management Is Crucial for Event Success and Revenue Generation

• Good management of sponsorship add sponsor revenue, which translates into a better overall event. 

• Good sponsorship management creates stronger relationship, repeat sponsorship, and even referrals. 

• When your sponsorship management processes are streamlined, you recover time, energy and resources to dedicate to other event elements. 

• Working efficiently enables event organizers to give their sponsors, and thus their attendees, a positive experience to maximize the value and impact of the event. 

Event management software allows event organizers to address all these concerns with sponsorships by optimizing the efficiency of sponsorship management. Most event management software come with a one-stop shop platform that will simplify the sponsorship process for sponsors, which includes sponsor identification, negotiation, fulfilment, and tracking. This offers event organizers a more efficient and effective method of forging relationships with sponsors, while generating revenue (sponsors) and enhancing the overall experience for attendees. 

The Role of Event management software

Event management software are comprehensive software platforms that are built to help simplify and optimize the various tasks involved in event planning and management. Event management software is useful for improving sponsorship management because they offer specific features and functions that have been developed to provide process and procedure efficiencies around sponsorship.  

Simplifying event planning and execution 

Event management software provides a central platform for everything event-related, including sponsorship management Centralization allows users to have an easier interface and simpler workflows overall, which contributes to a better planning experience. 

Improved Sponsorship Management 

Event management software offers modules or other functions dedicated to sponsorship management. These functions also allow users to prospect for sponsors, communicate with sponsors, and negotiate sponsorships more efficiently. 

Customizable sponsorship tiers 

Event management software allows event planners to customize sponsorship tiers based on different levels of sponsorship and the benefit to some level. Event planners can customize the tiers and benefit level and can assign those sponsorship levels and tiers with pricing levels to the event using software. 

This level of flexibility allows event planners to customize sponsorships for registrants based on their own unique needs and outcomes. 

Automated communication with sponsoring brands 

Event management software offers communication tools that can make sponsors and planning committee members contact easier at the event. There are email template functions/builders, reminders, and then internal messaging functions built into the system for communication to avoid missing anything or communicating things late. 

Automated reminders can help event planners to avoid unknown disappointments during events because they share/token things that will happen that sponsors can miss out on. 

Sponsorship tracking/reporting 

Sponsorship tracking and reporting capabilities are often in event management software. Most event management software offers some type of custom report/analytical function that can show sponsors value and sponsorship ROI for sponsorship functions later for both parties. 

Integration with payment systems 

Many events management software can integrate with Payment systems to track payments / to track payment invoices for sponsors. This allows for easier management in terms of payment processing, invoicing and budget-related tracking regarding sponsorships. 

Overall these types of software provide many options to enhance events for both the event planner and sponsors by adding capacity functions, automatic functions and streamline processes. These solutions provide event organizations with the ability to effectively manage the acquisition of sponsorships, negotiations, fulfilment and reporting, improving relationships with sponsors and the overall impact of sponsored events.  

Enhancing Sponsor Engagement and ROI Tracking

Event management software can serve a critical function for event organizations by supporting the communication and engagement with sponsors. Event management solutions also feature functionalities that can allow event organizers to support the engagement of sponsors and provide a meaningful method to measure your return on investment (ROI).  

• Interactive Sponsorship Activation:  Event management software utilizes several approaches for interactive sponsorship activation, which allows sponsors to create active and participatory experiences for event attendees. Interactive sponsorship activation can include a variety of aspects such as interactive booths, brand experiences, and gamification. Event organizers can boost engagement and sponsor activation of their sponsorship, increasing the impressions and impact of their sponsorship by creating experiences for sponsors to embrace, engage, entertain, and excite. 

  Real-time Analytics and Reporting Dashboards:  

  Event management software feature reporting dashboards and real-time analysis capabilities to track and measure the impact of sponsorship, reporting on both an event sponsorship presence and the overall sponsorship experience. Event management software will capture data on attendee interaction, engagement, conversion, impressions, clicks, registration, and lead generation. Reporting and dashboards that offer sponsors real-time reporting and visualization on activity and key performance indicators (KPI’s) will allow event organizers to be proactive to maximize sponsors ROI and showcase the value and impact of the sponsorship investment. 

  Social Media Integrations:  

  Event management software are integrated with social media functionality and allow sponsors the opportunity to leverage the reach ofThese integrations can take many forms, such as live social media walls, social media competitions, or hashtag-based campaigns. These types of activities encourage event participants to engage on social media and share their experiences, while giving sponsors a way to promote their reach, develop excitement, and effectively measure the impact of its sponsorships in relation to social media activities. 

  ROI Measurement : 

  You would be amazed at the power of event management software for measuring return on investment (ROI). They can encompass many forms of measuring, so that both the organiser and the sponsors can measure the success and impact of their sponsorships. Examples of ROI measuring include lead conversions, website traffic as a result of the event, social media engagement, and survey completions. Having this information in reports and analytics, an organiser can demonstrate to their sponsors the concrete outcomes of sponsorship expenditure.  

  CRM and other integrations : 

  The event management platform offers a great ecosystem for sponsors, where multiple tools contribute a unique capability for sponsors. Once incorporated with a CRM, the event management platform will seamlessly pull the attendee’s data into the sponsors CRM, therefore the leads and prospects will continue to provide one consistent place for storing their data. Generated leads and prospects will allow the sponsors to know where they had contact with potential clients and facilitate follow-up relationships post event as well as targeted follow-up campaigns. Furthermore, it might also wish to incorporate integrations for ECRM and marketing, to generate targeted lists for emails, personalized communications, automating their marketing, and providing insights through survey tools. With these tools integrated, all of these capabilities would empower list engagement, measure and data analyse ROI, grow sponsorship strategies, and improve overall investment decisions for future sponsors. 

  Ticketing and Registration Integration : 

  Many event management systems are ticketing systems. Therefore, sponsorship integration as part of the sponsors ticketing system will therefore not only trespasses to attendee registrations and ticket sales but provides insightful participant data too. This is particularly of value to a sponsor that is targeting a specific demographic of attendee.  

Conclusion

Event management software is a streamlined process for sponsorship management capacity that minimizes duplication and offers an integrated process for planning, provision, and tracking through to sponsorship value enhancement that is beyond regular fulfilment and reporting for developing value for the sponsor and an ongoing relationship with that sponsor that maximizes the impact of the event.  

Samaaro’s multi-dimensional event management software offers these possibilities through managing sponsorships in a streamlined way through integrated communications, planning and monitoring. Samaaro’s platform provides a fully immersed experience in real time with analytics, and sponsors social media, ROI, to engagement to sponsor, to maximizing overall event impact, we can ensure sponsorship management is effective, and impacts success within events