What is the best way to measure and evaluate sponsorship?
One of the best ways to measure the success of an event sponsorship agreement is by simply asking attendees for their opinion. With surveys, you can ask pointed questions: What brands did you see at the event? Which brands enhanced your event experience? Are you more likely to buy from those brands in the future?
What are the numerous measures of sponsorship evaluation?
There are as many different objectives out there as there are companies, but they generally fall under five major categories: visibility, awareness, brand image, consumer affinity and sales.
How do you quantify sponsorship values?
The following 10 sponsorship ROI metrics will clue you in on how fruitful a sponsorship opportunity is:
4 Ways to Use Event Tech to Measure Sponsorship Activations
Subtract the cost of the sponsorship from the value of the sponsorship to get the net gain from the sponsorship. Divide the net gain by the cost of the sponsorship. This will give you the ROI for the sponsorship.
For the sponsors of large business functions, charity events and trade shows, these promotional opportunities typically sponsor things like:
What is sponsorship value? Sponsorship valuation provides opportunities that companies do not regularly have access to via general marketing or advertising. It directly involves the audience in a conversation rather than simply providing them with information.
One of the key challenges for the sponsorship industry is to measure Return on Investment (ROI) of sponsorship investments and activity. Working within Nielsen it is clear that measuring marketing, and therefore also sponsorship, can be evaluated on three key areas: Reach. Brand Equity.
Event sponsorship is and continues to be, an effective way of increasing the visibility of a brand. Partnering with the right event can be the perfect way to tell prospective clients, your competitors and future stakeholders, that your business means business.
Sponsorships help your business increase its credibility, improve its public image, and build prestige. Like any form of marketing, it should be used strategically as a way to reach your target customers. As you build your marketing plan, research the events and causes that your ideal customers care about.
Businesses receive the following benefits from a sponsorship: It increases visibility for the company and its brand. It allows businesses to aim for a specific demographic of sales. It improves a company's reputation for success and refinement.