Measuring the impact of event sponsorship 

In a previous article, the Lulu events team provided good advice for finding the best sponsorships for your events. Several methods exist for measuring an event’s success, with sponsorship being one of the most effective.
Illustration by
Stephanie Heendrickxen
Written by
Manon Blache Veschi

Measuring the impact of event sponsorship 

In a previous article, the Lulu events team provided good advice for finding the best sponsorships for your events. Several methods exist for measuring an event’s success, with sponsorship being one of the most effective.
Illustration by
Stephanie Heendrickxen

Measuring the impact of event sponsorship 

In a previous article, the Lulu events team provided good advice for finding the best sponsorships for your events. Several methods exist for measuring an event’s success, with sponsorship being one of the most effective.
Illustration by
Stephanie Heendrickxen
Written by
Manon Blache Veschi

For those who have not seen this practical guide, here is a brief summary of its salient points:

  • Sponsorships must adapt to the needs of your event’s attendees. You have to understand your target audience and do everything you can to provide it with something that makes sense and adds value.
  • Be creative when getting your public to engage with the sponsorship. Events have the power to make this approach real, and we should take advantage of it!

 

This is all well and good, but event sponsorships have now become an increasingly common marketing tool for companies looking to increase their visibility and notoriety. Once an event is concluded and the guests are left enchanted, would it not then be ideal to assess the impact of your sponsorship? How? Several different methods could reveal themselves, depending on the strategy you implemented beforehand.

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The scope of the event: analysis of your notoriety

The first step in measuring the impact of an event sponsorship is to analyze the reach of the event itself.

Several indicators can be scrutinized. Obviously, the first information that should be observed: the number of participants. The scope of your event is more likely to increase when there are more people involved. Cellphones in hand, hashtags and social media endorsements are essential for understanding the true scope of an event. And the ultimate accolade? Media coverage, of course! Lulu’s marketing team will share with you a tool to ensure that no media acknowledgement goes unnoticed. Set up your  Google Alerts  without delay.

Surveys and polls: legendary

One of the most common methods for measuring the impact of event sponsorship is to conduct participant surveys. These can be done either prior to, during, or after an event to measure guests’ reactions to a brand. In order to better drive your surveys and thus increase their fun factor, focus on short, relevant, and visually stimulating content. It’s true… Forms can sometimes be… how should we put it? Boring!

Measuring participant engagement

Participant engagement is another crucial indicator when assessing a sponsorship’s impact on an event. This metric is quite similar to reach analysis (mentioned earlier). Depending on your target, develop a sponsorship that will get your guests involved enough to make your mark.

Contests on social networks, immersive experiences… all approaches are good for gathering data (not to mention reaping the fruits) for your efforts.

Again, analysis of your success focuses on:

  • The number of brand mentions on social networks;
  • The number of online content shares related to a sponsorship

Return On Objectives analysis (ROO)

Ultimately, an analysis of the return on objectives (ROO) is a common method of measuring the impact of an event’s sponsorship. This requires an analysis of the costs of a given sponsorship versus the benefits it has provided to the brand, such as brand awareness, greater visibility, increased sales, and so on. ROO can be calculated using various different strategies based on your sponsorship goals and the metrics defined for establishing your success. Depending on your industry and the objectives you have defined for your strategy, your metrics are likely to realign.

This article provides you with the opportunity to see the bigger picture, but you are free to adjust everything according to your needs.

Ultimately, measuring the impact of an event’s sponsorship can prove to be a convoluted process. Nevertheless, by following Lulu’s advice, this combination of methods will enable you to create a history for future sponsorships and thus strengthen the confidence of your future collaborators.

 

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