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A Deep Dive into Hackathon Sponsorship

10831877bd394c902f1dda20524c86d6?s=47 Swift
December 17, 2014

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

10831877bd394c902f1dda20524c86d6?s=128

Swift

December 17, 2014
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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 |