Event organizers have a variety of reasons for implementing a Virtual Event Bag. Some simply want to enhance the value they extend to sponsors and therefore include it within their existing sponsorship program. Others see the event bag as an opportunity to drive incremental revenue by providing placements at a cost. This section helps provide guidance on how to price the placements.
Note: It is important to balance revenue from sponsors with the need to provide high-quality, engaging content for the event audience.
Bag Sponsorship
It is common for events to take advantage of the “Featured” placements at the top of the bag to provide to sponsors at a premium price, in effect underwriting the cost of the program. One example is to create a “sustainability sponsor” and provide them the first placement in the bag.
Pricing the Placements: Compare to Existing Alternatives
Other Factors to Consider
There are a variety of other factors to consider when setting the price for your placements.
Note: It is important to balance revenue from sponsors with the need to provide high-quality, engaging content for the event audience.
Bag Sponsorship
It is common for events to take advantage of the “Featured” placements at the top of the bag to provide to sponsors at a premium price, in effect underwriting the cost of the program. One example is to create a “sustainability sponsor” and provide them the first placement in the bag.
Pricing the Placements: Compare to Existing Alternatives
- Physical Bag: If you provide sponsors the opportunity to buy a spot in a physical bag delivered at the event, then the price you charge is usually a good proxy for a placement in the Virtual Event Bag.
- Keep in mind, however, that a placement in a Virtual Event Bag has no design, printing or distribution costs for the sponsor and delivers measurable results.
- Several events will phase in the Virtual Event Bag by offering both a physical and digital bag to sponsors. For example, a spot in the physical bag may be $500, the digital may be $500 and both may be $850.
- Expo Booth: If you have expo booths at your event, you have the option to provide a placement in the Virtual Event Bag for an incremental fee, typically 10% - 20% the cost of the booth.
- For example, endurance events with pre-event expo booths that cost $750 may consider charging exhibitors $150 - $250 for a placement. A conference or expo that is charging $3500 for a booth may consider a cost of $350 - $750 for a placement.
Other Factors to Consider
There are a variety of other factors to consider when setting the price for your placements.
- Number of attendees / participants
- History / brand of event
- Location / size of market
