Using Digital Signage to Increase Sponsorship Revenue
The Importance of Event Sponsorship
The purpose of an event is to generate revenue – profitable and charitable events alike. The reality is that ticket sales alone will rarely be enough to meet your bottom line. That leaves event planners asking, “what can I do beyond ticket sales to increase event revenue?”. Sponsorship is a big answer to this, and Eventbrite even lists sponsorship packages as the #1 add-on for increasing event revenue.
Digital Signage: The Best Way to Please Sponsors
When selling event sponsorship packages, it is important to think like the client so you can provide them with what they want. In a sponsorship decision-making study, IEG determined that on-site signage ties for first place as sponsors’ priority.
image source: 8 Tips for Getting High Dollar Sponsorships for your Big Event
So if the #1 way to increase event revenue is through sponsor packages, and sponsors’ number one priority is event signage, it is a no-brainer – renting a jumbotron or LED video wall to display digital signage is the way to go! Here’s how to maximize your incoming sponsorship dollars from an LED wall rental screen.
5 Ways to Maximize Revenue from Sponsors with Digital Signage
1. Plan Ahead
Make the decision to rent an LED video wall well in advance. Simply put, the sooner you know that you will have an LED video board, the more time you will have to sell sponsorships. Creating and collecting LED display content takes time as well, so you want to get the slots filled at a minimum of 2 weeks prior to show-time.
2. Offer Tiered Sponsor LED Display Options
If you are an event planner or manager, then you know that tiered sponsorship packages are the way to go for maximizing revenue. What you may not know is that there are numerous creative ways to cater these levels to display boards. For example, display a priority sponsor 100% of the time with a digital logo overlay. Or hang print banners from the LED board. Give everyone a chance to get on the board by displaying the low-level sponsors in a print-only list. A tiered sponsorship display system will allow you to inflate the cost for top level sponsors and increase your total number of low-level sponsors!
3.Provide Visuals to Your Sponsors to Help Make the Sale
Be as transparent as possible with your potential sponsors. Help them visualize exactly what their brand would look like on a giant LED video wall. The best way to do this is to provide many pictures of the LED display product you are renting. You can even go one step further and Photoshop their logo onto examples to help them see the vision. A good LED rental company will provide whatever assets that are necessary for you to close the deal!
4. Entertain First, Advertise Second
A digital advertising display does little if event attendees do not pay attention to it. Displaying engaging content, i.e. the big game, live social feeds, and camera feeds will ensure that your audience is captivated. When you sprinkle ads in between engaging content, then they are reaching a fully engaged audience and maximizing your sponsors’ ROI. If you “over-advertise”, the event attendees will tune out the LED video wall. Subtlety is key!
5. Utilize your Digital Display Rental Company
There is no better resource for choosing the right product and maximizing your ROI than your LED display rental company. Get creative and ask questions. They will be happy to entertain any creative ideas you have, as well as offer suggestions on how to maximize sponsor exposure time and select the perfect product for your event. They can also provide all the necessary assets to help you close the deal with your sponsors.
Digital Signage with LED Displays – An Event Planner Must
Sponsorship sales are paramount to the revenue stream of any event. Studies show that sponsor’s #1 priority is on-site signage, and digital signage is the way to go due to its display versatility. So if you want to increase your event revenue for this year – decide to rent a digital signage board well in advance, get creative with entertaining ad layouts, and pick an LED display rental company that is willing to help you maximize your sponsor revenue however possible.