You need to be creative to attract elusive sponsorship money

Sponsorship dollars are critical to the success of most events and conferences. Unfortunately, decreased budgets is the No. 1 challenge facing event planners across Atlantic Canada today, according to a recent report by Meeting Professionals International (MPI) entitled Futurewatch 2010. To supplement lower budgets, organizations are depending more on corporate sponsors. "It's going to be a tough year," says Roberta Dexter, the owner of Halifax-based Plan Ahead Events and president-elect of MPI's Atlantic Canada chapter. "There will be more competition for fewer sponsorship dollars."

Companies will need to prove to sponsors that they'll get a return on investment. "Creative sponsorship packages with a clear outline of what the sponsor will get in ROI is key," says Dexter, adding that the promise of a quantitative and qualitative report at the end of the event is also crucial. Bar coding and RFID (radio frequency identification tags, an embedded electronic nametag similar to a drugstore price tag) are common tools used to track attendees at events, booths, and traffic patterns. "Sponsors love these tools because they're tangible," says Dexter.

But don't fret. With the worst of the recession behind us, Dexter predicts that companies will be looking for interesting ways to showcase their goods and services through creative sponsorship. "Those who are able to show ROI," she says, "will have the most success at attracting event sponsors."