Help! How Do I Price Event App Sponsorship?
Event planners often ask us how much should they should charge for event app sponsorship.
There are many variables that determine price. From the number and profile of attendees, the type of event or conference and if you have event app adoption rate date from previous conferences.
However there are some guiding principles that will help you find the right rate.
At a minimum organisers tend cover the cost of their event app with app sponsorship revenue, especially when they go down the single sponsor route. That said many conference planners we work with generate an additional 50% of the cost of the app in sponsorship revenue.
How Does Your Price Compare?
When putting a proposal together you will need to make a few calculations to work out the cost the sponsor will pay to gain exposure to one attendee.
This is more easily explained via an example. Start with expected number of attendees (let’s say 1000) then applying your expected event app adoption rate (let’s say 80%) you can estimate that 800 of your attendees will be exposed to the sponsor’s branding on the app. Now let’s say your conference app is costing you £3,300 and you would like to make a 50% margin, a package priced at £4,950 represents a cost of £6.18 per attendee your sponsor gains exposure to.
Does this stack up against other marketing campaigns your target sponsors are involved with?
Leverage Existing Data
Your app will include detailed analytics. If you have run an event app at previous conference you will have detailed information on page views.
Borrowing an example from one of our UK medical association clients, their sponsor’s banner ad resulted in over 60,000 page views. Using the costing example above the cost per view equals 8.22 pence per view. Compare these figures with how much your sponsor would pay for cost per view on Google as a benchmark.
Previous conferences can also give you click through data so a comparison with cost per click costs the sponsor on Google is a good way to sense check your pricing. If you haven’t used an event app at your previous conferences ask your app provider for statistics from similar sized events in the same industry. And if you don’t know what the Google or other campaign costs your sponsors will be comparing your proposal with, ask them.
Understand Your Sponsors’ Drivers
As with all sponsorship selling it’s important to take the time to understand your prospect’s objectives and measures of success and then to remain flexible and creative when designing the event app sponsorship package(s).