ROI or Return on Investment is the bread and butter of any business. It is what the businesses need to keep on the table to keep them going. Now you might ask why? Because ROI is a key performance indicator (KPI) that’s often used by businesses to determine profitability of an expenditure. However, calculating ROI can be especially beneficial for marketers. The objective of marketing is to get the word out about your product or service, meaning your efforts have a direct impact on the success of your sales. You can calculate marketing return on investment to determine which campaigns are giving you the greatest return for your business.
In addition, as a powerful complement to other marketing programs, sponsorship is one of the fastest growing form of marketing that allows the brands to reach specifically targeted niche markets without any waste. However just proving a sponsor’s target market attends your event is not enough to get them to cut you another check. To keep sponsors coming back to your event, you need to prove your value in a way that the company’s executives will understand: ROI.
So, how does an app fit in this scenario?
In today’s data-driven world, technology gives us various tools to measure and analyze the performance of our organization. Mobile apps have grown to become a standard offer for many organizations and events, meeting consumers’ desire for increased efficiency and convenience. Mobile apps have also become an important tool in gathering data for analysis.
For event planners, providing an event app offers many benefits to all parties. Users can access information quickly and easily, and organizers can utilize analytical data to understand what attendees find most interesting and what improvements can be made for future events. During the use of an event app, information gathered about the users also proves handy for real-time adaptations. Further, the data reveals the effectiveness and ROI of the event app itself and is the perfect way to attract event sponsors.
How can using an event app maximize sponsorship ROI?
Before talking about maximizing ROI for a sponsor through your event app, one should understand what it is that the sponsors are trying to achieve through your event and then find out ways how your event application can enhance your ability to help your sponsors achieve those goals. Sponsors are likely to be working towards these:
- Brand awareness
For a sponsor, brand awareness can be either about a newly launched product or about an existing product to a new set of customers.
- With an app like EventOnApp, you can design your own splash screen and what better place to promote your sponsor’s presence than the very first screen of your event app. Your sponsors will get noticed by your attendees through the very start of your application.
- Increase app downloads and sponsor awareness by sending attendees branded emails with sponsor logos
- EventOnApp presents you with a specialized and dedicated tab for sponsors to extend their profiles beyond their booths. Under this tab, sponsors can add their logos, videos, brochures and social media links to their online profiles.
- Lead Generation
Events are the best bet for a brand to initiate a conversation with their target audience and generate new leads.
- Apart from the money factor, ROI is also about the number of customers who turned up at the exhibitor’s stalls. Most event apps collect these data and share with their sponsors so that they can follow-up with the customers later in a personalized way.
- An interesting feature is a functionality to upload business cards by the attendees. Now this acts as a brownie point for the sponsors to connect with their potential customers after the event.
- A networking functionality allows for a one-to-one in-app chat. Sponsors can send customized messages and promotions to customers and target prospects.
- Surveys and contests are a great win-win for both sponsors and attendees. Sponsors collect data that help them understand their prospects’ needs, and attendees get the chance to win prizes and engage in a fun way.
- Showcasing activities
- Most event apps allow the sponsors and exhibitors to build their own profile on the app where they can attach their photos, videos and documents related to past HR activities, social cause campaigns, social media posts etc.
- Sales Generation and offer promotions.
The offers provided by exhibitors entice customers to visit their booths and generate sales.
- Banner ads generate brand awareness for sponsors by being seen on the pages where attendees spend the most time and can link to a sponsor’s profile, website, or promotion.
- Live sponsored notifications would be an added value for increasing the footfall at the exhibitor’s booth. Attendees can get the notification alerts about any new offers, merchandise discounts or prized contests organized by the sponsors.
The bottom line being that practically every business decision should result in a positive ROI in a predetermined time frame. If you’re not sure whether or not your efforts are yielding results, how can you properly optimize profitability?
Therefore, the need is to decide on an event app technology that can help your sponsors to not only calculate their sponsorship ROI but also maximise it to the fullest. EventOnApp offers a bunch of resources to do that but you should try it out yourself to explore all the other cool functionalities as well.