Benefits of Selling Sponsorships Online

January 10, 2016

Sponsorships are a critical revenue stream for most exhibitions. As shows grow, they attract more sponsors, organizers are compelled to deliver more sponsorship opportunities, and the sponsorship sales process becomes more time-consuming and complex. Moving sponsorship sales online provides organizers with a number of efficiencies and benefits.

What are online sponsorship sales?

As with online booth sales, there is an evolution occurring with online sponsorship sales. At one end of the spectrum, organizers exchange paper contracts with sponsors, manage sponsorship inventory and issue invoices manually, and advise accounting to charge the customer’s credit card.

At the opposite end of the spectrum, organizers adopt an automated, online system that allows potential sponsors to choose from available sponsorship packages via an online e-commerce enabled portal within the show website. Buyers can select offerings, complete contracts, receive invoices, and pay in a single session, all from anywhere in the world using any device of their choice.

Less paperwork

The most immediate benefit for organizers is the reduction in paperwork, which equates with fewer man-hours required for processing a sponsorship sale. The learning curve for sponsors is minimal because most individuals are familiar with purchasing products and services online.

Higher sales

By placing the sponsorship inventory online, organizers can benefit from a shorter sales cycle and higher sales volume.  Such visibility, as well as seeing opportunities sold out, creates a sense of urgency among sponsors that drives sales.

Better planning

An online platform pushes organizers to be more strategic about sponsorships. Because descriptions and images have to be uploaded prior to offering the sponsorships for sales, they can review the categories and inventory, make sure there are ample opportunities at all price levels, and budget costs appropriately.

The pace of online automation is continuing to push the exhibition industry forward. Few processes are left that can’t be delivered online. Web-based sponsorship sales platforms are among the latest products in a long line of Software-as-a-Service offerings for exhibition organizers. It may not be long before exhibitor and sponsor participation is transformed into an online, one-click process.

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.