Following on from our last post detailing some of the headline statistics from our cost-of-living survey, we wanted to explore further the impact on association sponsorship.
The survey, encompassing views from 125 global event professionals, reveals the increasing difficulties faced by associations and not-for-profits in securing sponsorships for their events, a challenge accentuated by the current economic climate.
A key takeaway from the survey is the struggle of 45% of association and not-for-profit respondents to find sponsors for their events. This difficulty is further intensified by 41% of these respondents experiencing a decrease in available sponsorship funds. The situation is clear: even willing sponsors have less to invest.
Associations and not-for-profits are not only grappling with securing sponsors but also with identifying viable sponsorship opportunities. About 29% of respondents in these sectors report finding it harder to offer attractive sponsorship options, a challenge influenced by factors such as dwindling delegate numbers and scaled-down exhibitions.
Leanne Bladen, our Director of Sales & Marketing at The Eastside Rooms, responded to the survey by emphasising the significance of sponsorships in the context of association events. She points out that “sponsorships are often essential for these events, providing crucial revenue streams. A decline in sponsorship not only impacts the financial viability of events but can also lead to compromises in other areas, potentially diminishing the delegate experience.”
Understanding these challenges is key to offering effective support. We are proactively exploring ways to assist clients in identifying and capitalising on new sponsorship opportunities within our venue and hotel. This approach is aimed at enabling clients to deliver an optimal delegate experience, despite the challenging sponsorship landscape.
The survey by The Eastside Rooms not only highlights the current struggles in event sponsorship but also underscores our commitment to understanding and addressing the needs of our clients. In a time where adaptability is crucial, we continue to be a supportive partner in the event industry, fostering successful events amidst economic uncertainties.