A Deep Dive into Hackathon Sponsorship

Over the years we've learned a ton about raising sponsorship. Swift will lead a thirty minute workshop over Google Hangouts on the best practices we've discovered over the years raising sponsorship for events. After the presentation, there will be time for questions.

This workshop will address common questions like: how to price sponsorship, source leads, reach out to sponsors, and secure monetary (and non-monetary) sponsorship.

Video: http://youtu.be/QI9NVe2wA5w?t=8m56s

Transcript

1. by @SwiftAlphaOne A DEEP DIVE INTO Sponsorship.
2. I’m Swift. “The commish”
3. & formerly
4. Let’s talks about Sponsorship. Specifically, Hackathon Sponsorship.
5. MLH 1. Understanding Sponsors 2. Laying the Groundwork 3. Following a Process HERE’S WHAT WE’LL COVER TODAY 4. Protips, Pitfalls, & What-ifs 5. Q&A + The Future
6. MLH basics Let’s start with the a.k.a “Understanding Sponsors”
7. Why do companies sponsor hackathons?
8. MLH 1. Product Feedback 2. Marketing 3. Recruitment GENERALLY, THREE REASONS:
9. 01. Product Feedback Watch how people use & interact with their product or service in real time. OBJECTIVE: VALUABLE PERKS: Distribution 1 Branding Exposure 2 Interactions 3
10. 02. Marketing Raise brand awareness and/or change brand perception. OBJECTIVE: VALUABLE PERKS: Experiences 1 Branding Position 2 Memorability 3
11. 03. Recruitment Recruit top technical talent and develop employer branding. OBJECTIVE: VALUABLE PERKS: Resumes 1 Thought Leadership 2 Interactions 3
12. How do companies decide which events to sponsor?
13. MLH 1. Cost per Attendee 2. Attendee Value 3. Sponsor Landscape SOME COMMON EVALUATION METHODS 4. Package Value 5. The Force (a.k.a Their Gut)
14. C P A ost er ttendee “Bang for your Buck” 01. Cost per Attendee
15. Cost People minimize this ratio!
16. $1,500,000 135,000 Attendees $1,000,000 $400,000 $150,000 $50,000 $25,000 $11.11 $7.40 $2.96 $1.11 $0.37 $0.18 COST CPA
17. $50,000 2,000 Attendees $35,000 $17,000 $7,000 $4,000 $25.00 $17.50 $8.50 $3.50 $2.00 COST CPA PyCon
18. $50,000 1,000 Attendees $16,000 $8,000 $4,000 $2,000 $50.00 $16.00 $8.00 $4.00 $2.00 COST CPA Random Hackathon
19. Cost People Cost Client < If this isn’t true, there’s a problem.
20. 02. Attendee Value Fit, difficulty, & potential.
21. 03. Sponsor Landscape Quality. Quantity. value.
22. Vs.
23. 04. Package Value Am I getting my money’s worth?
24. 05. The Force (a.k.a Their Gut) Does this feel like the event I should be sponsoring?
25. How do companies pay for event sponsorships?
26. Usually different people handle THE SPONSORSHIP & THE BUDGET.
27. Businesses usually operate on QUARTERLY BUDGETS. The two best times to get money are Q1 and Q4.
28. Recruiting budgets for interns are HIGHLY SEASONAL.
29. What kinds of sponsors are out there?
30. MLH 1. Financial 2. Presenting 3. Anchor Brands TYPES OF SPONSORS 4. Strategic Partners 5. In-Kind
31. for example 01. Financial Companies that trade cash for value. This is your bread and butter. Almost every company on every hackathon website.
32. for example 02. Presenting A co-host / presenting partner. Usually co-brands the event with you.
33. for example 03. Anchor Brands A company that other, similar brands look for when sponsoring events.
34. 04. Strategic Partners Companies that help you with marketing, distribution, legitimacy, etc for example
35. for example 05. In Kind Companies that donate goods or services in lieu of cash sponsorship.
36. MLH groundwork Laying the
37. SPONSORS are like INVESTORS — You should approach them WHEN YOU’RE DOING WELL.
38. MLH 1. A Vision 2. A Website 3. Pre-Registrations YOU SHOULD DEFINITELY HAVE 4. A Venue* 5. Other Sponsors*
39. MLH 1. A Vision 2. A Website 3. Pre-Registrations YOU SHOULD DEFINITELY HAVE 4. A Venue* 5. Other Sponsors* These might not be locked down, but you should have progress to show.
40. Prepare an itemized budget for the event!
41. Know where the money goes.
42. Design a good sponsorship prospectus
43. MLH 1. Standard Tiers Document 2. PowerPoint Deck 3. Custom Proposals THERE ARE SEVERAL TYPES
44. 01. Standard Tiers Document Usually 1 - 2 pages long. Provides an overview of event & sponsorship tiers. bitca.mp | sponsorship@bitca.mp | @bitcmp Evangelist Recruiter Corporate Co-Host Contribution Amount $2,500 $7,500 $20,000 $50,000 Technical Mentors present ✓ ✓ ✓ ✓ Tech Talk during event ceremonies 2 min 4 min 10 min Tech Talk in private room 30 min 1 hour Recruiting Distribution of recruiting materials ✓ ✓ ✓ ✓ Best For: Sponsors who ask for it or are ready to buy.
45. 02. PowerPoint Decks Usually 5 - 10 slides long. Provide an overview of the event & team. Best For: Cold Emailing
46. 03. Custom Proposals Usually 1 - 5 pages long. Provides an overview of the event and Best For: Tiers without fixed pricing & sponsors offering more than cash. outlines a custom package & price.
47. MLH 1. Event Name 2. Event Date 3. Event Location THINGS YOU SHOULD ALWAYS INCLUDE 4. Projected Attendance 5. Website URL 6. Contact Email / Phone
48. Let’s talk about sponsorship tiers.
49. MLH 1. How many tiers should I have? 2. How much should my tiers be? 3. What perks should apply to each tier? QUESTIONS TO ASK
50. THE RULE OF 3 TIERS: 1x REASONABLE 1x MODERATE 1x EXPENSIVE 01. How many tiers should I have?
51. 02. How much should my tiers be? There’s no easy answer here. Use CPA, your budget, & instinct.
52. 03. What perks should apply to each tier? Sponsors will value whatever YOU SAY is valuable.
53. MLH PROCESS Following a
54. Stop me if your sponsorship process sounds like this… Cold Email 1 ?????? 2 Profit 3
55. ARE YOU KIDDING ME?
56. MLH 1. Set Targets & Do Research 2. Get in Touch 3. Exploratory Phone Call THE MLH SPONSORSHIP PROCESS 4. Make a Proposal 5. Follow Up
57. 01. Set Targets & Do Research Figure out which companies you want to sponsor and who the decision makers are there. OBJECTIVE: TOOLS OF THE TRADE: LinkedIn 1 Data.com 2 CEOEmail.com 3
58. 02. Get in Touch Get an introduction from someone in your network or send a well-crafted and thoughtful email. OBJECTIVE: TOOLS OF THE TRADE: LinkedIn 1 Facebook 2 Google 3
59. 03. Exploratory Phone Call Get the decision makers on the phone and find out what their success metrics are. OBJECTIVE: TOOLS OF THE TRADE: Sell your team & the story 1 Ask about past sponsorships & budget 2 Let them do the talking 3
60. 04. Make a Proposal Send over a well crafted proposal and an explanation of why it fits their company’s needs. OBJECTIVE: TOOLS OF THE TRADE: Set a deadline 1 Ask for a follow up call 2 Less is more 3
61. 05. Follow Up Follow up with all prospective sponsors and keep the event on their radar. OBJECTIVE: TOOLS OF THE TRADE: RelateIQ 1 Boomerang 2 followup.cc 3
62. MLH 1. Not Iterating 2. Not Practicing 3. Not Highlighting THINGS TO WATCH OUT FOR
63. MLH pro-tips Here are some
64. UNDER PROMISE and OVER DELIVER.
65. Follow up with your Sponsors. POST EVENT SURVEYS THANK YOU NOTE EVENT RECAP & PHOTOS
66. RIGHT OF FIRST REFUSAL Use the to upsell sponsors.
67. Sell the TEAM & EXPERTISE. “We’re working with Major League Hacking.” Getting sanctioned goes a long way. You’re working with the experts.
68. REGULAR & TIMELY COMMUNICATION before, during, & after the event.
69. Be willing to NEGOTIATE, but don’t give away the keys to the castle.
70. SPONSORSHIP CONTRACT. Use a standard
71. MLH PITFALLS Here are some common
72. MAYBES.
73. Not understanding PAYMENT CYCLES.
74. Not VALUING what you’re SELLING.
75. MLH QUESTIONS! It’s time for
76. Thanks! @SwiftAlphaOne @MLHacks |