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MPSM 600 Module 5 Discussion 1 - Sponsorship Measurement

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MPSM 600 Module 5 Discussion 1 - Sponsorship Measurement

Advertisers who provide event statistics cannot persuade businesses to sponsor events

and hire their advertising team today. Businesses will only partner with advertising teams that

provide measurement tools and metrics that measure the effectiveness of the partnership; this is

typically calculated using the campaign's expected ROI (Return On Investment). To calculate

your ROI, total the amount you receive in exchange for full support and event participation costs.

This sum could be in event revenue, moving value, and ad appearances (DiNardi, 2021).

Sponsorship, travel and accommodation, grants, event booth keeping, and other expenses may

also be incurred.

Advertisers and sponsors use ROI to quantify a sponsor's value concerning a specific goal

or objective to ensure that sponsorship costs are met. Businesses prefer sponsorship marketing

because it is a non-divisive strategy that allows them to earn more revenue than they spend. Most

businesses require at least a 2: 1 ROI, which means that for every dollar a sponsor spends on

funding, they expect a $ 2 refund. Sponsors now require advertisers to provide them with the

proposed ROI before the sponsored event and the actual ROI after the campaign due to the rising

sponsorship cost.

The next step would be for Eventbrite to recommend that all sponsors use technologies

like radio-frequency identification and event applications to measure the engagement and

purchase better. To better understand their customers, event apps can also collect additional data

by compiling a survey of end-users (DiNardi, 2021). This will provide sponsors with portable

data to better estimate actual sponsorship ROI and unquestionable data, recognition, interest,

engagement spending, and, most importantly, new customers and followers.

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Advertisers first determine the ROI estimates of specific support by comparing their

marketing value to the competitors. This amount should be measured by the marketing team's

ability to receive event exposure, such as logo placement, which includes comparing party

prices, arrival rate, and the cost of each event to the prices of other competitors. This will also

include potential media benefits such as estimating the number of ideas generated and

identifying the sources of ideas. This could include the number of TV viewers, radio listeners,

readers, website visits, website page views, and social media sharing to identify potential

advertisers or advertisers. This first step establishes the price and estimates how much the sales

team will contribute to the product. Sponsors will benefit significantly from being able to agree

on a rating.

The final step is to use the grant data and submit the completion report. The report should

show that the marketing team was present during the creation of the following elements: media

exposure, marketing opportunities, product image development, effective marketing and targeted

marketing, hospitality opportunities, and product suspension during the sponsorship campaign.

The completion report should include final ROI statistics validated by actual data and

submissions to demonstrate that the funding investment benefited the sponsors.

References

DiNardi, G. (2021, October 15). How to measure event sponsorship ROI: Easy steps to double

returns. Retrieved from

https://www.nextiva.com/blog/how-to-measure-

event-sponsorship-roi.html