How To Leverage Data Analytics To Provide Better Sponsorship and Brand Partner ROIs

One of the most critical aspects of organizing an event is finding sponsors and brand partners that align with your vision. However, being on the same page is only one piece of the puzzle. At the end of the day, sponsors and brand partners need tangible returns on their investment. They need to see some value in building a partnership with your event. As an event organizer, you need to make sure that you create experiences that are value-rich for your attendees and also a fertile, high-ROI market space for your exhibitors, sponsors, and brand partners. 

It can be a lot to juggle at the same time, especially if you’re just working with your gut feeling.

But thankfully, you no longer have to.

With the power of event data analytics, you can ensure that your sponsors and brand partners always meet their ROI goals when they work with your event. In this blog post, we will discuss what event data analytics is and how it can help you provide better ROI to your sponsors and brand partners.

What is Data Analytics For Events?

Data analytics is a powerful tool in the event planning space that provides deeper insights into how well your event is performing. With event data analytics, you can collect attendee data from various sources, including registration forms, badges, RFID tags, social media accounts, and tickets. This data is then analyzed and converted into impactful insights affecting the success of your events, allowing you to demonstrate ROI to your sponsors easily. You can track your specific audience's interests, interactions with your sponsors, preferences, and engagement level to create strategies that yield a win-win situation for you and your sponsors. 

But how does data analytics do that? Let’s take a look!

Collecting Information

The smart data analytics models gather data from various touchpoints, including registration forms, attendee information, social media campaigns, the interaction of your attendees with the sponsors, website traffic, event badges, and surveys. 

Analyzing the Data

Once the models have collected all the information from various points, they analyze the data to produce meaningful insights for you. 

Using the Insights

With the information provided by event-based analytics, you can easily get valuable insights about your event attendees, their behavior and preferences, the social media posts that generated good engagement, the campaigns that worked, the number of times your brand/sponsored brand was mentioned, etc. 

All of that helps you demonstrate a better ROI to your sponsors. 

How Can You Help Your Sponsors determine ROI With Event Data Analytics?

There are many notable ways to use data analytics to enhance sponsorship and brand partner ROIs:

Audience Insights

Data analytics allows you to gain deep insights into the event attendees' demographics, interests, and preferences. By analyzing attendee data, you can identify key audience segments that align with sponsors' target markets, helping them tailor sponsorship packages and event strategies to maximize impact.

Engagement Tracking

With event-based data analytics tools, you can track attendees’ engagement with sponsored content, social media interactions, booth visits, and experiences throughout the event. This information helps your sponsors get real-time feedback on the effectiveness of their sponsorship investments, enabling them to make data-driven decisions and adjustments as needed.

Lead Generation

By capturing attendee interactions with sponsored content, tracking post-event follow-ups, or using event badges, you can provide sponsors with valuable insights into the quality and quantity of leads generated, empowering them to nurture relationships and drive sales.

Brand Impact Analysis

Data analytics lets you easily track how many people saw the sponsor's logo on social media, websites, and press coverage. This concrete evidence shows the sponsor the reach of their investment.

Predictive Analytics For Future Event Planning

You can also use event data for predictive analytics for future sponsorship planning and decision-making. By analyzing historical data and market trends, you can forecast sponsorship performance, identify emerging opportunities, and make data-driven predictions about which sponsorships will likely yield the highest ROI.

Conclusion

Data analytics can help you enhance sponsorship and brand partner ROIs effectively. By leveraging audience insights, engagement tracking, lead generation, and brand impact analysis, you can provide sponsors with tangible and measurable value, ensuring mutually beneficial partnerships and long-term success for all stakeholders involved. 

As you plan your next event, consider incorporating data analytics into your sponsorship strategy to unlock new opportunities for success and drive meaningful results for your sponsors and brand partners. Get in touch with fielddrive today to leverage data analytics for your next event.