Introduction to Virtual Sponsorships
Well you might be asking, how do I earn money with virtual events? Facing an entirely new world, we now search for new ways to produce and drive revenue. Thanks to the digital nature of virtual events, we are presented with an abundance of opportunity to monetize sponsorship dollars.
Online events open up the entire world as your potential audience base. With an estimated growth of the virtual event market to grow from its current $78 Billion to $774 Billion by 2030, it becomes apparent that this isn’t just a trend.
Why Virtual Events Attract Sponsors
Firstly, Virtual or digital event sponsorships are nothing new. It's important to note that it is far easier to capture audience data in the virtual space than in-person. By providing brands with direct access to highly valuable data, sponsorship value immediately increases. Most important, digital events are also much cheaper to produce, resulting in drastically decreased production costs and far higher profit margins. With a plethora of sponsorship opportunities, virtual events can produce more revenue than ever. Considering this, many trade shows or summits may never return from the virtual summit to an in-person event format.
5 Ways to Drive Sponsorship Value with Virtual Events
#1: Offer Branded Opportunities to Sponsors
Sponsors can seamlessly incorporate their brand into the event experience. For example, it can be included into the registration process, keynote lectures, or breakout or networking sessions. Sponsorship opportunities could include background graphics by introducing a logo or branded assets at the beginning or end of a video or keynote session or any place on the screen you can possibly imagine.
#2 Make Sure Your Virtual Event is GDPR Compliant
According to The Economist, data has become the most valuable resource in the world, beating out oil. 97 percent of businesses utilize data to fuel business opportunities while 76 percent of them employ it as an integral part of their business strategy.
Virtual events are a highly effective method to capture data and metrics. An essential pot of gold for data mining, this may be the most attractive reason for a potential sponsor to get involved. Above all, one must make sure that their virtual event is GDPR compliant in order to provide sponsors with the data that they most desperately seek.
#3 Branding as Part of the Signage or Feature a Sponsored Booth
Much like a physical venue, virtual events present opportunities to include a sponsor’s brand as part of the signage. In addition, you can also grant sponsors the chance to host a virtual booth where they can directly interact with attendees.
#4 Mix In Promotional Videos
Loop or play promotional videos during breaks or prior to keynote sessions. Use a virtual photo mosaic to create a standout promotional video that will leave your attendees saying wow.
#5 Poll Questions & Games
Wherever possible, introduce games such as or include poll questions that directly pertain to your sponsors. Including interactive activities, for instance, a scavenger hunt as part of your event strategy will further help drive engagement. Direct engagement with their brand is one of the most valuable things you can provide to any potential sponsor.
The Future of Virtual Event Sponsorship
Regardless if it is a virtual or in person event, sponsors are there for one reason, to connect with the attendees. As we move into a completely new frontier, we begin to discover uncharted territory. In conclusion, virtual events deliver an unparalleled amount of value to sponsors by giving them direct access to engage with a global audience while providing them with priceless data.