Alrighty, so second blog post! Last week we talked about who we are as a company and how Mile Zero got started. This week we’re going to talk about sponsorships. Our team lives and breathes sponsorship on a daily basis and we love talking about them to whoever will listen! More specifically, we will give some insight at a high level into what they are and why they are important to any event or festival.
Sponsorships: what are they?
At the core, sponsorships can be financial, in-trade or simply product support. There has to be some give and take here between the sponsor and the event. These must be mutually beneficial relationships for both the sponsor and the event producer in order to be successful. Brands look to align themselves with high-quality, well-produced events that align with the brand’s goals and marketing strategies. Let’s not overlook that brands that sponsor events can also help enhance the overall experience of the event through their activations on-site.
Why are they important?
Sponsorships are important for a number of reasons. For starters, they are important because sponsorship revenues can help offset costs of the event or festival. Sponsorships can also enhance the overall experience of the event as well. Take a food and beverage festival for example; the first thing you might think of as an attendee is walking around the festival sampling different foods and drinking. Now, let’s align this event with a sponsor that would seamlessly fit in (specifically a sponsor that aligns with this type of festival like Barefoot Wine) who creates custom experiences that engage attendees. This sponsorship is not only a seamless category fit for this type of event but also gives attendees a curated experience while the brand is able to talk with and educate event attendees about their product in a seamless fashion. Overall, it’s a win-win situation for the brand and the event.
What we want you to know about sponsorship.
When producing an event it can be easy to overlook sponsorships. As event producers, we are busy with day-to-day planning and the overall logistics of the event, but it’s important to be mindful and understand how vital sponsorships can ultimately be. Additional revenue from sponsorships can allow to grow areas of the event (talent, food, marketing, festival experiences, etc.) and help increase the overall experience for your festival attendee.
If you think you might need some help with sponsorship or just want to chat about your overall sponsorship business, give us a shout. We would love to discuss our process and can talk about ways that Mile Zero can help grow your event sponsorships.
Until next time,
Cheers!
Megan