Is your virtual event platform providing your sponsors with the best possible experience?

Your virtual event platform determines whether your sponsors have a positive or negative experience. Learn how to evaluate your virtual event platform to achieve the best possible results!

The virtual event platform you choose is critical for creating the right environment for your event.

You are the expert in content and presentation, but it is your virtual event platform that provides an excellent event experience and interaction opportunities for your audience.

Not every virtual event platform, however, is designed with your sponsors in mind.

So, are you assisting them in maximising ROI by providing the best experience possible? Or are you passing up opportunities?

Here are some specific ways your virtual event platform is failing to provide the best possible experience for your sponsors.

Difficult registration procedure

A inadequate or complicated registration process can set the tone for the rest of your event.

Your sponsors are busy people who don't have time to learn the intricacies of complex tools.

The more hoops they have to jump through to gain access to your virtual event platform, the more barriers you put in their way.

They will be hesitant to use the platform and will not take advantage of the fantastic opportunity you are providing them.

A lack of effective data and ROI reporting

Virtual events have the potential to provide enormous amounts of information to both you and your sponsors.

However, the information should be presented to you in a way that you can understand.

Anyone can spend hours analysing endless spreadsheets and manually calculating numbers, but what you need is the right data presented in the right way.

Furthermore, some virtual event platforms only report on vanity metrics, which is another way of saying that metrics that do not matter.

Vanity metrics can be dangerous. Your sponsors want to see measurable results from their investment.

And they don't need banner ad views to get those results; they need to know how many attendees took action as a result of that ad.

Most importantly, they require accurate buyer intent data, it is also a bonus if you can provide qualified leads too!

Be wary of virtual event platforms that only provide vanity metrics, as these do not provide true revenue-generating value to sponsors.

Attendees have a difficult time navigating the platform

Sponsors only participate in your event because of your attendees.

Attendees will not use your virtual event platform if it is not appealing to them.

And if they don't use it, they won't be able to connect with your sponsors.

How do you know if attendees will find the platform difficult to use? Keep an eye out for the following red flags:

• Accessibility is an issue. Participants should be able to participate from a variety of platforms and devices.

• Registration is a difficult process. Signing up should be as simple as clicking a link or receiving a sign-up email.

• User interfaces that are confusing and cluttered. A poor user interface can cause your attendees to become disoriented or miss important information.

There is no meeting scheduler or matchmaking service.

An in-person meeting is the best way to close a deal, but a 1:1 video call will suffice.

So, when your sponsors come across a hot lead, the sooner they schedule a direct meeting, the better.

However, if you can't provide an easy way to schedule meetings or find potential leads, you're passing up a lot of value and limiting the effectiveness of your sponsorship offering.

By incorporating facilitated matchmaking into your event, you can assist both sponsors and attendees in meeting the right people.

Facilitated matchmaking and meeting schedulers are your sponsors' ticket to approaching leads and generating revenue - don't overlook them!

Unbalanced promotional opportunities

Attendees are not interested in participating in constant pop-up ads. Your virtual event platform must strike a balance between sponsor needs and attendee satisfaction.

Some of the guests are there to find solutions to problems. These might be the products or services of your sponsors, thus advertising them will assist people in attendance in achieving their objectives.

However, they do not want sponsors in their faces, which prevents them from enjoying the other aspects of your event.

There's a fine balance to be struck. I'd suggest virtual event systems that allow sponsors to promote themselves natively, as this gives sponsors more exposure while preserving a nice attendee experience.

And, while you should allow your sponsors to promote their brand, too much can be detrimental. After all, it is your event, and you should have the final say on what happens and when.

As a result, be wary of giving sponsors too much freedom and flexibility. You should be able to moderate and control what happens at your event at all times.

As you can see, there are numerous potential ways for things to go wrong. Therefore finding the right balance, on the other hand, takes time. The optimal amount of control and promotion for your sponsors will be determined by your event and brand.

Questions to ask yourself when testing virtual event platforms and the sponsor applications for your own event:

1. Is it simple to use and comprehend?

Your sponsors are extremely busy people (like you). Long onboarding processes or unnecessary downloads to join the platform are major turnoffs.

The best virtual event platforms are easy to use.

While the term "virtual event platform" may sound intimidating, they are fundamentally similar to popular social media platforms in that people use them to connect with others and expect to do so easily.

These have extremely simple sign-in and registration flows, and virtual event platforms should follow suit.

Make absolutely sure that your virtual event platform is simple to use for both you and your sponsors.

The more your sponsors use the platform and tools provided, the better their experience will be – but they must first use it!

2. Is it versatile enough to meet the needs of my sponsors?

Your sponsors have different motivations and values, and you do your best to provide them with a reasonable and effective package to assist them in achieving your objectives.

So you deserve a virtual event platform that is adaptable and willing to go above and beyond.

Your virtual event platform should be able to address (at the very least) the most common reasons for sponsorship, such as:

• Lead generation

• Brand recognition

• Launch of a New Product

Otherwise, you will be limiting the potential of your sponsorships and event.

3. Does it have the potential to generate continuous revenue?

Digital experiences are popular, and the best part is that they can exist even when there are no people around.

Consider a physical event booth. There will be no deals if there are no representatives.

At a virtual event, however, good virtual event platforms enable sponsors to generate leads and revenue even when they are not physically present at the booth.

You and your sponsors have data that physical events cannot provide, whether it is through lead capture forms or capturing booth traffic.

So, when evaluating the sponsor features of your virtual event platform, keep an open mind. Look for potential additions such as:

• Sign-up forms, newsletter registrations, and gated content are examples of passive lead generation opportunities.

• Complete branding in order to make it as sponsor-friendly as possible.

• Brand videos, product demos, and whitepapers are examples of content.

And a lot more.

4. Is it able to provide the necessary data to demonstrate ROI?

Virtual event platforms provide your sponsors with quantifiable data on their participation.

E.g. instead of guessing how much traffic they received, they will know who came to their booth and what actions they took.

This allows your sponsors to separate attendees who requested more information from those who came to their booth but did not request more information.

You can also provide exact numbers on traffic to sponsored sessions, leads generated from sessions and booths, and other information.

If your sponsor wants to know about buyer intent, lead generation, session participation, or content effectiveness, your virtual event platform should be able to tell them.

A vital feature of any virtual event platform is effective reporting besides from connecting your attendees together in a simple and effective manner.

Give your sponsors worthwhile opportunities

Because of the larger reach of your event and the more powerful lead capture options available online, virtual events have a high potential for lead generation for your sponsors.

And, with detailed reporting, your sponsors will have access to more data than they would have had at a live event.

Furthermore, becoming acquainted with these features and possibilities now will greatly benefit you as you start planning your hybrid events going forward.