Business 101: Sponsorship Dollars

Published on Jun 8, 2010   //  Business Topics

Let’s say that you are hosting a major event and you want to invite as many international representatives as possible. On the one hand, you don’t want to throw these representatives into the cheapest and most run-down hotel in town.

On the other hand, you don’t want to shower them in excessive extravagance at the price of significantly reducing the number of representatives you can invite and sponsor. If you were to house them all in a very expensive hotel and take them out to the fanciest restaurants in town, you’d burn through your budget quite quickly.

In this way, what is the best strategy to both maximize the number of representatives you can bring to your event while ensuring that all these representatives are treated well and are offered the best experience possible? Finding this middle ground can be a very delicate balancing act.

Realistically, you won’t want to use any of the lower-tier hotels, since you want to offer a good experience, but you should avoid the highest end too. Find a good middle ground and, this way, you can almost have the best of both worlds. Of course, you’ll lean to one side or the other side of the spectrum depending on the nature of your event.

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