SponsorMyEvent is a marketplace that matches event planners with event sponsors. Here is the review.
Whenever I look at event technology I have two dominant feelings. I am disappointed whenever I see young developers and entrepreneurs developing the same technology all over again with no innovation whatsoever. I am incredibly happy when I see someone tackling a major issue with the industry and trying to solve it in the right way. When I heard about SponsorMyEvent, I felt the latter.
Yes, they may not be the first to offer a marketplace to match event professionals looking for sponsors and companies looking for sponsorship opportunities, but they are surely among the first set of innovators tackling this key interaction.
So let's have a look at the platform and what it can do for your event.
SponsorMyEvent: What Is it?
Few events could take place without sponsorship dollars. If you have ever planned an event, you'll know that. Sponsoring events is one of the strongest elements of a powerful marketing mix, yet brands struggle to find relevant and meaningful opportunities.
SponsorMyEvent helps making the connection between two parties that need each other but often struggle to connect. Sponsor marketplaces were one of the trends of 2013. They have evolved since and are quickly becoming a strong asset for both event planners and brands using event sponsorships.
SponsorMyEvent serves two audiences:
1. Event organizers publish their event on SponsorMyEvent.com and provide all necessary details, including sponsor-packages. As soon as an event is validated it is sent out to matching sponsors and can be found in SponsorMyEvents' search-engine.
2. Sponsors take advantage of a complete SaaS-solution that allows them to manage all their sponsoring-opportunities. They can find and review all kinds of events, negotiate with organizers and close a deal right away on the platform - including secure-payment of the sponsoring-money.
Is it worth my time? As an event professional, this is the first question that comes to mind.
Consider that setting up a page for your event and the correct filters may take a total of 30 minutes. Are 30 minutes worth exposing your brand to hundreds of sponsors looking for opportunities to sponsor your event? You bet! SponsorMyEvent is incredibly easy to use and that is a plus when you are busy with your regular event planning.
One of the strongest features for sponsors are Filters. Here you can narrow the requirements of the sponsors you are looking for. It allows sponsors to create an unlimited number of filters that define the criteria of the events they are potentially interested in. A typical filter could be: Sport events taking place in New York, targeting sports-women and a budget not higher than $1.500. As soon as an event is published if that matches one of these filters, it will be automatically suggested to the sponsor.
Another interesting features it's being currently rolled out allows Sponsors to manage opportunities from their own website by including a form to capture sponsoring requests. This gives larger sponsors a tool to keep track of all incoming requests, especially as it will also include multi-user and multi-department functionalities.
The business model of this category of tools is its strongest selling point. Sign up is completely free. You just pay 10% of the fee paid by your sponsor. You will end up with new business and pay just a cut of what the platform is able to generate.
I particularly liked the Negotiate button you have on each sponsorship package. Specially if you sell highly priced packages, this button will start a conversation with those who may be interested. Your selling skills will do the rest.
One of the intrinsic problems with the effectiveness of these platforms is adoption. Big numbers are required to generate enough opportunities on both ends. While SponsorMyEvent is building its audience very fast with brands such as Coca Cola or PwC using it, only some type of events or geographic locations will fully grasp the benefit of it while it grows.
Here are the most significant features SponsorMyEvent will bring to your event:
- Event creation and management
- Flexible creation of various sponsor-packages (single items and bundles possible)
- Management of incoming sponsoring-requests
- Social-media integration: sharing of the event on the organizers connected social-media
- Eventbrite integration: creation of events based on existing events on eventbrite
- Invite sponsors not signed-up on SponsorMyEvent to the event profile
- Browsing of events without creating a profile
- Filtering: each filter contains the criteria of events potentially interesting for the sponsors: location, category, target-audience, budget ... Sponsors can define as many filters as necessary and receive automated suggestions based on these filters
- Event Labeling and quick save
- Internal messaging system to negotiate with the organizer
- Deal-flow handling: negotiations, pre-filled and digitally signed frame-contract, secured online payment
- Download section for logos and collaterals
Who Is It For?
Sponsors and event planners will definitely get the most benefit out of this. Specifically if you are trying to develop your sponsor portfolio, SponsorMyEvent is a killer app.
It is free to use and it charges only when you sell through the platform.
Given the short times of set up, you really have nothing to lose. Of course the more you dedicate to fill in your profile with comprehensive information, the more likely you will get contacted by sponsors. The benefits definitely outweigh the resource requirements.
Large companies looking for targeted event sponsorship opportunities can rely on SponsorMyEvent to find very specific niches.
Pros and Cons
- Easy to set up.
- Free, you pay only when you sell.
- Online payments.
- Adoption. Numbers are growing.
- Payments can only be processed via Stripe (bank draft not still available)
- Mobile version somewhat limited.
Prices and Plans
SponsorMyEvent is free to use. You pay 10% when you sell a package.
They will soon launch a Saas solution with more option for sponsors, which will come at a monthly price.
SponsorMyEvent is a no brainer. If you need sponsors for your event, this is an extra revenue opportunity that cannot be ignored.
Some great events and brands are adopting the platform and the sound thinking behind make it very useful for the modern event professionals.
It really seems like a service where you have nothing to lose, other than the short amount of time needed to set up your profile.
Disclosure: Startup Reviews are paid for placements. While Event Manager Blog receives a fee to extensively look at the tool and review it in detail, the content of the review is independent and by no means influenced by the startup. If you have any question please use the contact us section.