When planning to host a large virtual event, it’s easy to go down the rabbit hole of sponsorship packages possibilities.
If you’re not careful, you will start overcomplicating things. This creates a larger workload on your team, but it will also be more difficult for your sponsors to decide on which package to purchase.
We’ve all been to those restaurants where there are 50+ meals on the menu. Unless you know exactly what you want, you’ll spend some time browsing the menu.
Meanwhile, the restaurant owner needs to be able to serve a large number of different meals, meaning purchasing more ingredients.
When it comes to a virtual event sponsorship prospectus, the famous saying applies: less is more.
However, don’t be fooled. Sometimes making things as simple as possible is more difficult than creating a complex sponsorship prospectus.
I’m a huge fan of tiered virtual event sponsorship levels. They come in a wide range of variations. In this article, we will focus on the following levels.
- Elite sponsorship package - the highest tier;
- Premier sponsorship package;
- Diamond sponsorship package;
- Gold sponsorship package - the lowest tier.
Note that all of these packages still sound valuable. This is on purpose. Your virtual event sponsors are valuable to your company. You don’t want to give them the feeling that they are purchasing a less valuable package. It’s all about emotion on this one.
I always avoid package names such as “bronze” which just sound a whole lot less valuable.
The above packages will account for most of your sponsorship revenue. However, I always recommend selling some add-on packages as well. We’ll dive into that momentarily.
Make sure to check out the sample virtual event sponsorship prospectus at the bottom of this article.
Understand why companies sponsor virtual events
Sponsors who purchase the highest tier should get the most value of their package. But, what’s considered valuable for them?
This is something you need to understand first. Otherwise, it will lead to disappointment and naturally, you want to avoid this.
Companies sponsor virtual events primarily for one reason and that’s lead generation, especially in B2B markets.
Companies who purchase the highest tier in your virtual event sponsorship prospectus should get all the possibilities to generate as many leads as possible.
When it comes to sponsorship, another reason for companies to purchase packages is for brand awareness. However, this will always be inferior to lead generation.
The lowest sponsorship tier will be most focused on brand awareness and will place less emphasis on lead generation.
Check out this article one mine which explains the benefits of sponsoring virtual events. To create the best package, you need to walk in the shoes of your audience first.
The tiered approach to virtual event sponsorships
There are a couple of benefits to having three or four sponsorship levels.
First, it creates exclusivity for people who pay the most. Your top sponsorship package will be very limited in quantity. I typically recommend having 3-4 top-tier packages available at the most. In the example of this article, I’m talking about the elite package.
Second, it creates scalability when it comes to revenue generation. Your lowest tier virtual event sponsorship package will be unlimited. We’ll dive into some package examples in a moment.
Last but not least, it gives everyone an opportunity to participate. Typically, when you’re hosting a large virtual event, you have quite the impact on a market. People want to be part of it, but not every company is capable of shipping boatloads of money your way. By having lower tier packages and add-ons, everyone can participate.
Elite Sponsorship Package
The elite package is the highest virtual event sponsorship level. This is an exclusive package and typically by invitation only.
These are the companies that will pay big money to join your virtual event. At the same time, this means that you better be sure that you’re generating value for these sponsors.
For these companies, value is created through lead generation. When it comes to virtual events, lead generation is facilitated through two major channels;
This means, in order to generate value in an elite package, you need to maximize lead generation for your audience through session sponsorship and the best networking possibilities.
Typically in an elite package, one of the main sessions on your event will be sponsored by an elite sponsor. Your sponsor will receive a list of all the attendees of these sessions after the event.
The elite sponsorship package will include 1:1 sessions with your audience. This is absolutely critical in order to generate value for your audience. Your events team will be responsible for matching the sponsors with the audience.
Other common things included in an elite package are:
- Dedicated emails to your audience;
- Prime location banner ads on your events application;
- Virtual event booths at a top location;
- Key participation in your event gamification strategy;
- Promoted videos throughout the event.
Premier Sponsorship Package
The premier virtual event sponsorship level is the next best option. The biggest difference compared to the elite package is that this package is not by invitation only.
Similarly, this sponsorship level will contain many networking and lead generation opportunities.
The premier sponsorship package will not include the option to sponsor main sessions. Sponsoring the main sessions is only for the top-notch sponsors.
However, the premier sponsorship level will contain a virtual booth. At the virtual booth, the sponsors will be able to generate leads and convey their value to your audience.
The premier sponsorship package will also include 1:1 sessions with your audience.
Other common things included in an premier package are:
- Listing the event press release;
- High-profile branding opportunities;
- Sponsoring of smaller breakout sessions;
- A video testimonial.
Diamond Sponsorship Package
The diamond sponsorship level will place a greater emphasis on brand recognition rather than lead generation.
At the diamond virtual event sponsorship level, there is no possibility of getting a virtual booth. This privilege is only for premier and elite sponsors.
However, there are some increased branding possibilities such as rotating ad banners in the event app and on the virtual event platform itself.
At the diamond sponsorship level, sponsors will also get a dedicated social media post and a mention in the event emails.
Diamond sponsors will also get an opportunity on your event website to provide a company profile.
Gold Sponsorship Package
The gold package is the lowest sponsorship level in your prospectus. This level of sponsorship will mostly be focused on brand awareness.
Any lead generation will be the responsibility of the sponsor itself. It’s still possible through the chat with the audience, but they need to take the lead.
This will be your most basic package with basic branding opportunities. Of course, they will get a logo placement on your event website and on the event platform. They will also be included in all branding opportunities that are applicable for all sponsors.
In addition to selling the various sponsorship levels mentioned in this article, you can also offer some add-ons that companies can purchase.
Here is a list of add-ons that you can consider for your event prospectus.
- Email send to your event audience;
- Social media post;
- Branded breakout rooms;
- Additional 1:1 sessions with the audience;
- Speaking sessions;
- Product demos;
These are a couple of options. However, it really depends on your virtual event platform in terms of figuring out the capabilities for sponsorship add-ons.
Sample Virtual Event Sponsorship Package
So, that was a lot of information. Below you will find a useful overview of a sample virtual event sponsorship package.
Of course, to run a large virtual event, you need a solid budget template to keep track of all the expenses. You’re in luck! Here is the budget template that I use for my virtual events.