When organizing event partnerships, managers make a number of mistakes when working with information partners. Even though event mistakes are unavoidable, you can avoid many common blunders by reading the tips below.
What Is an Event Partnership?
An event partnership is a relationship between two parties to boost the promotion of an event. Often, one company will host an event and seek another brand’s endorsement of this event. In return, the latter business may receive event, product, or brand promotion.
You can create event partnerships by networking within your niche and offering something in return. Establishing B2B relationships can generate a boom in the success of your events. Brand influence is powerful; are you taking advantage of it?
Blunder #1. Never Bartering in Event Partnerships
Bartering is the “exchange of goods or services for other goods or services without using money.” Many event managers believe that partners do not need to barter.
This mistake has often arisen either because of a lack of practice in barter or because of a wrong approach to this issue. Instead of cash or even promotion, you can offer the following to your event partners:
- Gift Cards
- Public relations
Blunder #2. The “I Need” Approach
Another common mistake of the event organizers is to concentrate on themselves and their goals when interacting with partners. Instead, event managers should build their proposal based on what the event manager can offer to the partner.
Express these intentions in the subject line of your event partnership proposal. For instance, “How can I help you?” may be more enticing to click on than “Interested in a partnership for my event?”
Explain why you proposed to their brand as opposed to another. Explain how your company can help theirs. Above all, keep it short. Countless marketers forget this step. Instead of embellishing your proposal with flowery language or egocentric points, keep it under a few sentences long to be sure to grab their attention.
Furthermore, don’t end your selfless approach once you have landed a partnership. Instead, choose to be the gift (or in this case, the partner) that keeps on giving. Contributing rather than taking is essential to gain more leads and improve your brand perception.
Blunder #3. Succumbing to “We Are Not Interested”
Even the best pitches can receive the answer “Thank you, but we are not interested.” Maybe your prospective partner already has too much to juggle. Or maybe they just don’t see the value in your offer.
To minimize such responses, make sure your pitch aligns with each partner’s specific needs. Do not create a generic pitch, then send it out to several potential partners, changing only a few details.
Research pays off. Determine the mission and needs of each potential partner and how your business fulfills them. If you still receive these responses, reply thanking the potential partner for their time and restate what your business can enable if they change their mind. Reevaluate your approach for future pitches.
Blunder #4. Giving Only as Much as You Get
The approach of commensurate exchange is certainly justified. But giving more than you get is worth it in the long run. If the event manager plans to establish long-term relations with event strategy partners, give them more than agreed initially. This approach builds a warm relationship with influential contacts.
Giving more, the event manager forms the base of loyal partners for many years. It is worth establishing as a rule to give more. Giving doesn’t have to be costly.
Let’s say the event partnership agreement was to give 15 tickets to a partner. Instead of overdelivering with 20 tickets (and losing money), subtle promotional efforts can make a bigger impact. For example, you can additionally place your partner’s company logo on the event website. Or, refer your email subs to a new product of your partner company.
Another way to give more is to thank the partner company at the event itself. All these actions are not costly from a financial point of view but still strengthen the event partnership.
Blunder #5. Undervaluing Partners
Your partners should be more than one-time event sponsors. Rather, make them contacts–names and numbers to keep in your back pocket for the next promotional ambition.
Do not only meet when you need help for directly holding the event. Instead, build long-lasting partnerships by inviting partners to the event and even discussing promotion outside of the event. These long-term allies will come in handy.
Blunder #6. Neglecting Free Marketing
You can profit from free events. Even if your event is not paid, you can still establish event partnerships for free promotion. This promotion may make or break your event.
A partner company’s social media outreach, email newsletters, website, press releases, and other media can all contribute to promoting your free event–all without costing you a dime.
As long as you offer something to your partners in return, you don’t have to overextend your marketing budget. Remember to make money at your free event with tactics such as promotional deals, sponsorships, merchandise, product promotion, etc.
Blunder #7. Breaking the Event Concept
When an event is born, it certainly has need for improvement. Revisions and alterations are necessary in the first stages of an event concept. However, once an event concept is settled and the partnership is established, don’t break it.
Many event managers believe that breaking the concept is the norm, or making some alterations to the partnership without the partner’s consent is okay. After all, it is your event. But remember, event partnerships are about prioritizing the other party.
For instance, perhaps after your event grows to 75 attendees, you decide to add videographers to your event without informing your partner. Or, you decide to change the design of their logo on the event website without their consent. Breaking the event concept stamps an unreliable perception on your brand.
Event partnerships serve as an effective way to promote an event, establish contacts, and build your brand. Long-term cooperation benefits each party in their industries. In business, as in life, the more we give, the more we get. When organizing events, avoid these seven blunders to harness your success.
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