Sponsorship, by definition, is the financial or material support of an event, activity or organization by an unrelated partner. Sponsoring a relevant event is a great way to increase brand awareness and strengthen relationships. This, in turn, helps generate consumer preference and foster brand loyalty. A company can reinforce awareness among its target market by sponsoring an event that attracts a desired target market. A sponsorship can be a meaningful part of a brands success, but also material to an event’s success.
Sponsoring an event is no means an act of charity – they must show some form of positive return on investment (ROI) for both stakeholders and sponsors. With ROI in mind, we would like to explore two separate perspectives in the sponsorship journey: the event stakeholder and the sponsoring organization.
As we near M&IW Campus Week, our annual company event, we reflect on the role of our industry partners. From an event stakeholder viewpoint, sponsors are of the utmost importance as they not only help to generate revenue for the event itself, but also offset costs for items that will enhance the overall attendee experience. For example, because of our platinum sponsors, we are including live meeting analytics from Educational Measures, over-the-top decor and style concepts from Kehoe Designs, professional event production from DMP and collaborative team building sessions from Banding People Together.
While sponsor and exhibitor relationships are key to these types of events, they can also be tricky to manage. To be successful, it is crucial to understand what matters most to the sponsoring organization. Do they prefer promotional opportunities leading up to the event, brand visibility on the registration site, advertising on a mobile app, relationship building with key contacts, ability to present at the event or sit on an industry panel, and of course, being able to connect with attendees post event.
You want to ensure they receive a solid return from their both investment and participation so that they continue to sign on year after year. And, it is also important to make sure that the sponsors and exhibitors selected are a good fit for the audience. Otherwise, the attendees will feel like the event was “sold” without consideration of their interests and time. Because we provide hotel sourcing and contracting services for our clients, hotels and resorts are a perfect fit. In fact, we have three platinum sponsors in this category: Marriott International, Hilton Worldwide and Rosewood.
Likewise, sponsoring organizations need to know that the audience is a fit for them. “To be successful, our employees need to be knowledgeable about new products, event-related services, hot destinations and more says Lindsay Perez, Assistant Manager, Program Management for Global Operations. She explains that “event sponsors and exhibitors gain valuable face time with those who have their ‘boots on the ground’ so to speak. They benefit from a rare opportunity to get in front of the individuals that use their services. Or, from a more general standpoint, individuals who may have key input, make recommendations to our clients or are involved in the decision-making process. It’s an overall win for the attendees and the sponsors, alike.”
A lot of organizations, including ours, use a tiered system to help differentiate the level of exposure or marketing that an organization will receive based on their support. This helps the hosting organization to keep the playing field level and manage expectations of the sponsoring and exhibiting companies.
“While it’s beneficial to participate as an exhibitor in the Supplier Showcase to network and make personal introductions, being a sponsor brings this educational value to the next level. It gives the organization an opportunity to be front and center of all M&IW employees and a chance to highlight the value they can offer to us, as a company, and to our clients,” explained Vicki Schmitz, HMCC, Senior Manager of Hotel Procurement. This is especially true for companies that have just started working with M&IW, a sponsorship can help them foster relationships and generate business opportunities faster.
We also have industry partners like Marriott International that have participated for several years. So, we asked Elizabeth Moynihan. CMP, Global Account Executive, her thoughts on the criteria her team uses when deciding to become a sponsor? Elizabeth responded, “Marriott values our long-term global partnership with M&IW. As strategic partners, we understand the importance and mutual benefit of sponsoring Campus Week. We take many components into consideration when determining our level of support. The opportunity for our hotel partners and GSO to engage face-to-face, and further cultivate and strengthen relationships is invaluable. We enjoy participating in Campus Week annually, and appreciate the opportunity to be a platinum sponsor.”
Our M&IW Campus Week taking place August 21-24, 2017 which includes our Client Summit and Supplier Showcase is the one time of year we bring together in one place our talented associates, valued clients, and industry partners. If you are interested in learning more about sponsor opportunities still available, please email us at email@example.com and we will send you the prospectus.