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October 27, 2021

5

minutes to read

How virtual and hybrid events can give sponsors maximum value.

How virtual and hybrid events can give sponsors maximum value.

Now we’re seeing the events industry embrace the digital experience in a whole new way, the value for both event host and the sponsor has moved with this change in dynamic.

In this article, we explore just what sort of value having sponsors at your virtual and hybrid events can bring them, and you. We've also created a guide on maximising the benefits for both exhibitors and sponsors - so if you fancy having it in one handy guide, pop in your email below.

Download the guide for this article so you can save, read later and share.

Sponsors have long been a key element of many types of event. From an internal corporate conference to an external trade fair, having a sponsor is an effective tool for event managers.

Sponsors play a key role in making virtual and hybrid events happen but there's many ways in which such sponsorship in the new digital age of events can be maximised by both event managers and the sponsors themselves. One Bizzabo study found that 50.6% of respondents believe that the tools to connect sponsors and attendees virtually and in-person will play a key role in their event strategies.

After all, virtual and hybrid events offer unique tools that create amazing opportunities for event hosts and sponsors to get long-lasting value from event sponsorship. 

As Jasenko Hadzic, CEO of Tame, says “by sponsoring hybrid and virtual events, sponsors gain the opportunity to be able to reach a much larger audience due to attendees being able to tune in from anywhere. No longer does venue capacity or physical location hold back the opportunity for companies to collaborate and generate amazing events and content, which is a clear benefit for both event managers and sponsors."

By removing the logistical headache of travel, companies can sponsor more events and can experiment more with what sponsorships provide most value for the buck.  Jasenko Hadzic, CEO at Tame.

"In-person allows you to connect physically with your audience and that comes with a range of benefits vs. virtual which gives a larger reach, but is naturally more limited on the engagement. In-person, virtual or hybrid, basically just meant that companies now have more tools at their disposal to experiment, generate leads and find the appropriate mix that will maximise the chance of reaching their marketing KPI's.”

What is virtual and hybrid event sponsorship?

Sponsors are a person or organisation that fund or contribute to the costs of staging an event - both online and in-person. Sponsors create trust between their brand and their customers while building awareness around their brand and getting exposure through various media channels. Having a good brand sponsor for your event offers authentic engagement and new opportunities to attendees - so elevating the value of the event for both sponsors and attendees. 

On virtual and hybrid platforms, sponsor awareness can take on many forms. One way sponsors interact with attendees is through virtual booths, or online spaces that are made to look like physical event booths and that have clickable, interactive opportunities for attendees to learn more about their brand. For hybrid events, sponsorship may take the form of a Q&A session for both live and virtual audiences, meaning that not only do they bring dynamic content to the event, it’s another great way to engage your audience. 

For both types of events, logos and branding are integrated into event design, apps, swag and anywhere else attendees engage. Unlike physical events where event sponsorship is sometimes an aside to the event for attendees and their experience, virtual sponsor integration offers endless unique ways to seamlessly bring sponsors into virtual and hybrid events. But what makes virtual branding and sponsorship integration especially interesting is their ability to be measured and analysed for future growth.

So, let’s talk about the value of data for virtual and hybrid event sponsorship. 

Sponsors & the value of data

Measuring sponsorship attendee interaction is a lot like looking at targeted online commerce and interaction. That data is measured and analysed to make sure that the right people buy, click and see the most relevant topics. In fact, online ads are a huge driver of brand awareness for many consumers, with videos being one of the most effective ways to reach an audience - specifically 1200% more than text or links. These same concepts can be applied to virtual and hybrid event sponsorship. 

Virtual and hybrid events are uniquely valuable compared to in-person events because they can draw from valuable data to connect sponsors directly to their consumers and create a long-lasting dialogue between the two. This is because, unlike ads that you may swipe through on social media apps, attendees don’t passively absorb sponsorship - they have the ability to learn, interact and get to know their sponsors in a deeper way. 

Sponsors can take advantage of the broad audience and accessibility of virtual and hybrid events by reaching both core target audiences while simultaneously becoming relevant to new target audiences. For example, sponsors at virtual and hybrid events have the ability to reach new global markets as they are not confined to the physical limitations that an in-person event would have. This benefits sponsors tremendously, as they are able to galvanise their brand and create long-lasting value and loyalty from attendees across the world, while also being able to measure their success. 

Sponsorship costs, content & ROI

While in-person event sponsorship can cost anywhere from $4,000 to $100,000, virtual sponsorship usually never exceeds around $15,000. In one study by Bizzabo, 33% of respondents wanted to allocate 21% or more of their marketing budget towards sponsoring or exhibiting events. The lower costs and direct reach to target groups make the ROI high for virtual and hybrid sponsors. Not only that, but it also allows for the continuous use of sponsor material online and a range of content possibilities.

Videos of sponsors speaking, or coverage of the event can continue to bring traffic to the sponsor’s website and grow their brand awareness. As we mentioned, targeted video advertisement is hugely effective at reaching consumers, so branded content creation from an event continues to grow sponsor revenues even after the event is over. In this way, virtual and hybrid events allow for sponsors’ content creation that can be used across media platforms.  

One thing we’d recommend being cautious about is how your sponsors create their video content. You want to avoid your event being used for ad purposes that don’t bring the attendees any value. Strike a balance with your sponsors and ensure the videos and content they provide first and foremost brings value to your event attendees, while also being brought to them by your sponsors.

Authentic engagement is much more effective in the long term!

At Tame we give sponsors the tools to connect with their attendees across the room and through the screen. Whether it's building brand awareness, launching a new product or making an introduction to their target audience, sponsors are guaranteed meaningful engagement. Come see how we do it, by booking your free personalised demo

References

  1. Bizzabo, 2021 Event Marketing Statistics, Trends, and Data
  2. Grenis Media, 45 Digital and Targeted Advertising Statistics
  3. Forbes, Video Marketing: The Future Of Content Marketing
  4. Impact Plus, What does a virtual event sponsorship actually look like?
The Tame Team

The Tame Team

YOUR VIRTUAL & HYBRID EVENTS PARTNER

At Tame, we've got a bunch of experience in the event industry that we want to share with you. After all, sharing is caring!

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