Financial Management

Question 1

Sponsorship

Answer 1

a major funding for events - that contributes to the financial bottom line and helps with cash flow.

Question 2

Donations

Answer 2

Involve less direct benefits, such as acknowledgement or expectations of public relations benefits to the donor.

Question 3

Elements to consider when developing a value proposition for sponrso

Answer 3

1. your audience and their buying habits
2. marketing reach and frequency
3. Potential for expanding the visibility of the sponsor through channels beyond the meeting.
4. Depth of exposure that you are able to offer

Question 4

Previous Sponsors

Answer 4

These are your first call. Remember that your ability to secure them for multiple years will be based on their experience.

Question 5

Current Suppliers/Exhibitors

Answer 5

While they may not have provided sponsorship previously, they have an interest in reaching the meeting attendees.

Question 6

Your stakeholders

Answer 6

Personal contacts can be the most effective for securing sponsors

Question 7

Reserach

Answer 7

Through this into the business prospective sponsors can help you tailor your proposal for a greater likelihood of success.

Question 8

Referrals

Answer 8

Ask your sponsors to refer some of their contacts.

Question 9

Sponsor Prospectus

Answer 9

this is a sponsor benefit package; it contains info to assist the prospective sponsor in making a decision.

Question 10

Elements in a prospectus

Answer 10

1. overview and history of the event
2. return on investment measures and opportunities
3. a description of the value for sponsorship
4. A letter of proposal
5. Audience demographics
6. Sponsorship benefits & limitations
7. Terms and conditions
8. A draft program of event content

Question 11

Title or Main Sponsor

Answer 11

This type of sponsor will underwrite the majority of the event, and its name will be associated.

Question 12

Tiered Model of Sponsorship

Answer 12

Tiered system including bronze, silver and gold sponsorship levels with predetermined benefits

Question 13

Credit Model of Sponsorship

Answer 13

this is a hybrid between a customized model and tiered model system.

Question 14

In-Kind Sponsors

Answer 14

This type of sponsor provides goods/service at no cost to the event. AV companies, etc.

Question 15

Moving from Sponsors to Partners

Answer 15

Sponsors can make the event more successful beyond their financial contributions by helping with public relations/marketing

Question 16

Managing Sponsor Expectations

Answer 16

These should be clearly outline in your contract with sponsors.

Question 17

Sponsorship Contract Should Include

Answer 17

details of the event, responsibilities of both parties, personnel, entertainment, financial obligations, release forms, waivers, cancellation, insurance requirements

Question 18

Grants

Answer 18

Typically money, but can also be services, facilitates use or products given by organization.

Question 19

Subvention

Answer 19

Financial support provided by the host destination or government as an incentive to event planners.

Question 20

Application Service Provider (ASP)

Answer 20

online registration companies that offer customization registration forms, secure sites, credit card transaction processing and automated confirmations

Question 21

Important financial criteria for ASP

Answer 21

1. Does the system protect financial information through a secure digital certificate?
2. Are the financial reports comprehensive to allow for reconciliation with your accoutning and banking systems?
3. Can you issue invoices/payment reminders
4. Can you adjust currency/taxes

Question 22

Financial Support from Exhibit Sales Process

Answer 22

Financial support can come from booth sales, sponsorship, advertising, and registration fees

Question 23

Non-financial support from exhibit sales process

Answer 23

They provide important educational opportunities, giving attendees opportunities to learn about the latest products, services, and technology relevant to their field.