Virtual events sponsorship is a trending name in this digital era where virtual events are no more a new or uncommon concept to the audience. As per the recent statistics, 87% of the event organizers prefer to host virtual events with virtual events sponsorship opportunities.
Not only the startups, but even growing companies are opting for virtual events sponsorship for various reasons apart from getting help with funding such as networking with the other companies, better brand exposure, customer engagement, and data access, to name a few. Also, virtual events sponsorship is one of the key focus areas for the virtual event planners while 23% of the planners claim that sponsorships are the primary source of revenue for them.
No doubt the idea of virtual events sponsorship is now widespread and to let you utilize it properly, we will guide you through the top virtual events sponsorship ideas in this blog.
What Is Virtual Events Sponsorship?
A virtual event sponsorship is basically when another company supports your virtual event with funds in exchange of doing their advertisement through your virtual event. Here, the form or type of advertisement is decided based on the contract and discussion you have with the company such as mid-roll, pre-roll, or post-roll ads, CTAs displayed during the virtual event, and others.
While virtual events sponsorship is beneficial for the other company doing their brand promotion, it also helps you raise funds, target and engage their intended audience, make your event look more authentic and helps your audience get the references they may have been looking for. But at the same time, you must ensure that it doesn’t impact your brand image or act as distractions to your audience while taking care of other factors.
To help you with all that, next we will walk you through the top virtual events sponsorship ideas that you must know in 2023.
Also Read: Tips to Boost Your Virtual Event Signup
The Top Virtual Events Sponsorship Ideas to Know in 2023
Here’s a list of the top virtual events sponsorship ideas for the virtual events you are going to host.
1. Ensure the Focus on Your Content Remains Intact
No doubt that sponsorships help you raise funds for your events as well as expand your network in various marketplaces. But you should not be overwhelmed by that and focus on the main purpose of your virtual event while ensuring that the sponsored content and ads do not take away the attention of the audience from your main content.
For instance, if you are live streaming a product launch event with the goal of some sales, and there are too many ads or CTAs, then it is probable that the audience will get distracted with that and the purpose of your virtual event will not be fulfilled that efficiently. So, your main focus should always be on your virtual event content and the goal/goals you are trying to achieve through your virtual event.
2. Don’t Get into a Sponsorship With Your Competitors
It’s a no brainer. No matter how lucrative the sponsorship deal seems to you or, whether the other company has strong market positioning or not, if it operates in the same field as yours, it’s a strict no.
Your business goals and brand & market positioning always comes first and you must not compromise with that no matter how good the deal seems to you. It is always recommended to you to do a proper research on the company/companies before taking a final decision.
3. Find Shared Values
The main idea behind opting for sponsorships is not just raising funds, but finding some shared values to explore that can help you achieve your overall business goals better. For instance, if you are live streaming a Q/A event on your latest products and solutions, and there is a sponsored ad or guest speech, then it is recommended to ensure those are relevant, informative or can at least be of some help to your target audience.
Also, relevance is an important factor here. It is expected to not show too much out of the line ads or sponsored content because that will not only won’t produce any value to the other company, but can also lead to higher bounce rate for your event.
4. Use the Sponsored Content Strategically
While too much sponsored content can irritate the audience, using proper strategies can help you avoid that. A few pointers to help you with this –
- Never use excessive sponsored content
- Place them strategically, for instance, you can place the CTAs only during the streaming of the relevant content or, choose the duration of the sponsored content in a way so that it doesn’t distract your audience at the vital timestamps or overlap with your own content/CTAs for goal conversions, and so on
- Also, instead of showing back-to-back video ads, give some time gaps in-between where the main virtual event gets streamed
- Ensure that there isn’t too much sponsored ads insertion that extends the virtual event timeline unnecessarily or dilutes its value or main purpose
5. Ensure Proper Data Utilization
Data is everything if they are collected, analyzed, and utilized properly. While chalking out your own side of strategies is important, it is also crucial to ensure that your sponsors can have outputs or leads through your virtual events.
You must keep this in mind as soon as your virtual event is planned and the list of sponsors is prepared. Here are a few tips that works wonder in data utilization –
- Collect the registered audience’s relevant information such as company, profession, designation, and others during the registration form fill up with proper permission
- Segregate the registered audience and the attendees and the relevant information
- You can also opt for advanced solution of business cards scanning to gather data for hybrid events
- Ensure that the proper safety and security protocols are maintained and the same is conveyed to the audience
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To convert your virtual event sponsorship ideas into success, and more importantly, to come up with an impactful virtual event that draws more sponsors, you need to stream through a competitive live streaming platform.
Muvi Live, an enterprise-grade live streaming platform, offers multiple monetization models along with its ads-support and ad-based subscription models to take your virtual events sponsorship ideas to a whole new level. And not only that, Muvi Live offers unlimited feature-rich solutions such as built-in CDN, live stream recording, streaming from the nearest server, multi-DRM security, analytics & insights, and the list goes on. Take a 14-day free trial today to live stream with Muvi Live and see the difference (no credit card needed)!