Posted by Jim Kennedy, Lands' End Business Outfitters Director of Marketing.
Event sponsorships are hard for businesses to resist. The heady investment comes with the power of being associated with something people remember. Before you sign-up, be prepared for the inevitable question: “What’s the ROI on that event?”
Tough one. The usual measurement device in the B2B space is by leads generated. But even that can be difficult to define. The key is to look at event sponsorships purely as brand building events, the kind management and co-workers will applaud.
Build on Your Equities
Lands’ End began as a sailing equipment company so our sponsorship of Chicago Yacht Club’s Race to Mackinac is a natural fit. Sponsoring the race reinforces the positive equities our customers have with our brand.
Make Sure the Audience Is a Fit
Put your products in the hands of decision makers, key leads we would otherwise have trouble reaching. That’s why the “Taste of (fill in city here)” has become so popular. It gives restaurants a chance to draw potential customers (usually at a lower barrier to trial). Is there a similar event in your industry?
Be Visible
I’d rather participate in one or two events and be a major presence than be spread too thin. It’s easy to get lost in a sea of exhibitors. When that happens, you’ve lost the entire reason for attending. We have a boat in the Race and a merchandise store on site and everyone is carrying a Lands’ End bag.
These are a few ways we approach event sponsorship. Feel free to share your successful event tactics by leaving a comment below.
