The Value of Sponsorship in your Marketing Mix
Effective marketing requires an average of 9-13 “touches” with your audience to build brand trust and create engagement. This can be a mix consisting of networking, social media, email campaigns, newsletters, webinars, sponsored events…never does a just one tactic get you the results you are looking for; not without a lot of money and often, frustration. It’s a multi-layered approach to create these touch points and gain momentum.
Building your audience of interested prospects is a key component to lead to conversions. How do you do that? It starts with building your marketing assets. Capturing email addresses and gaining likes and follows (yes, they do matter) to nurture prospects is critical to building those marketing assets and sending your resonating message to your target audience.
One way is to identify sponsorship and cross-promotion opportunities that have the same target audience as you. Sponsorships, such as Table for Four, our virtual networking event that takes place each Monday at 12 noon, can facilitate that touch process and create opportunities to greater engage with new audiences.
As an example, Table for Four has a target audience of small to mid-sized, b-2-b and professional service businesses with revenue in the $1-50m range. Completely in line with our target audience. Our cross-promotion partners, LW&H Business Solutions, NJBIA, and media sponsor Kerry Barrett Consulting, share the same target audiences. Leveraging one another’s marketing assets; email lists and social following, increases our reach to an email outreach of 22k+ and a social following of almost 30k!
Now how do we give the opportunity to leverage this outreach to other businesses in an affordable and fruitful way? Enter sponsorships.
We select a publication and buy an ad each month using the purchasing power from selling sponsorships to fund these ads. We limit the number of sponsorships and share the stage with our sponsors. Putting together a comprehensive marketing package that begins with pre-event marketing and a month long strategy, to bring value, build brand assets and raise visibility, then followed by a post-event follow up strategy. We share the bounty of registrants (list building), we raise visibility through a multi-channel approach (hello, email and social!) and provide guidance in how to get the most from sponsorship.
Speaking of getting the most from your sponsorship, we love to “squeeze all the juice” of the opportunities we invest in. Why wouldn’t you want to maximize your outcome when you invest precious resources such as time and money?
How can you get the most from your sponsorship? Follow these simple tips, and do this consistently, and you’ll grow your marketing assets (email addresses, likes, and follows):
Prior to Event:
- Follow all sponsors on social media (LinkedIn, Facebook, Twitter, Instagram)
- Go LIVE on your social media platform of choice and discuss Table for Four and encourage your followers to register and invite their colleagues
- Post about Table for Four with registration information and tag all sponsors to receive the benefit of cross-promotion!
- Take a picture of yourself at the event (or a screenshot of your breakout group)
- Post a picture of yourself (or a screenshot of your breakout group) on social media, tagging your new connections and sponsors
- Connect with all registrants on LinkedIn
- Email registrant listing, thanking them for attending and offering discount or strategy session
- Be sure to communicate with the appropriate message
- Include resources and an offer such as a free consult
- Check the open rate of your email and follow up with prospects that fit your target audience DNA and who have engaged with your follow-up strategy
- Ask for a one-to-one to collaborate and learn more about each other’s businesses- this IS NOT the time to sell!
What does this mean in raw numbers? For Paradigm, over the life of the event, we have met over 200 unique visitors to our event, conducted over 30 strategy sessions and converted 5 into new clients, resulting in over $300k in annual revenue.
This is just an example of how sponsorships, when executed start to finish, can impact your bottom line.
If you are interested in learning more about how Table for Four and other sponsorships can add to your marketing mix, increase your visibility, and add to your marketing assets, please reach out to firstname.lastname@example.org to schedule a call.