Planning a virtual event can be a complex and stressful process. Poorly planned virtual events usually have poor attendance and even lower engagement rates. Once you start to iron out details regarding who will speak at your virtual event and what software you will use to bring your message to the masses, you need to think about how to monetize this event. 

The average virtual event has around 1,300 attendees. This captive audience can be monetized if you have interest from sponsors. Here is some information about what a virtual event sponsorship is and the information potential sponsors will want to know before handing over money to your business. 

What is a Virtual Event Sponsorship?

Before you go out in search of sponsors for an upcoming virtual event, you need to gain an understanding of what this type of sponsorship entails. In short, a virtual event sponsorship is when companies provide monetary compensation in exchange for something of value. Things like customer engagement, access to data and brand exposure are just some of the things a sponsor will want in exchange for their monetary investment. 

As you start to seek out these types of sponsorships, you will be met with information requests from potential sponsors. Below are some of the things a potential virtual event sponsor will want to know before paying you. 

Identify Who The Target Market For The Event Is

One of the main things a potential sponsor will want to know about your virtual event is what demographic you are targeting with your message. A sponsor wants to make sure that the audience you are attracting aligns with their target demographic. This is why you need to identify who your audience is and what type of preferences/attributes they have. 

Having this information in hand will help you convince potential sponsors to come on board. If a potential sponsor feels like your audience doesn’t fit their demographic, don’t get discouraged because there are plenty of other businesses out there to approach. 

Will You Provide Sponsors With Direct Access To Your Audience?

The average virtual event sponsor wants to get the most out of their investment. This means they will want direct access to the attendees of your virtual event. Facilitating connections between event attendees and sponsors can be trickier than it seems. One of the best ways to make these connection attempts less intrusive is by collecting contact information from event attendees. Turning this information over to your sponsors will allow them to reach out to attendees with their messages. 

Information About Past and Current Sponsors

Another bit of information you need to provide potential event sponsors is who has sponsored your events in the past. Developing a list of past and current sponsors can help you show potential sponsors the reach your events have. Providing information about the leads that were created for past sponsors is also a good idea. 

With the right sponsors, you can monetize your virtual event and provide your audience with a great experience.