Please design this negotiation separately from the perspective of event planner and sponsor negotiation
Event Planner vs. Sponsor Negotiation
The Negotiators
The event planner (New England based non-profit organization) has notified a midlevel sponsor that their annual event sponsorship is concluding.
The sponsor (corporate client in the organic snack market) whose annual sponsorship is set to expire within 45 days.
The Negotiation Scenario
During sponsorship servicing, annual sponsors were notified that renewal of their annual sponsorship packages would be increasing while additional benefits. The event planner and the sponsor are entering a negotiation for a new annual event sponsorship package contract.
The Event Planner’s Perspective
The event planner believes that an increase in cost for sponsorship packages will help accommodate for the impacts and recovery from Covid-19. The event planner has determined there will be an increase in sponsorship benefits. The planner intends to offer virtual and hybrid options for sponsor benefits.
The current mid-level benefits are as follows.
– Sponsor logo on event registration
– Three (3) social media shout outs peer week leading (1 month) up to event
– Logo on all printed materials
– Targeted emails to attendees with sponsor logo prior to event
– Logo on post event evaluation
The Sponsor’s Perspective
The sponsor believes that during the recovery time of Covid-19 they should potentially realign their strategic financial contributions. They are eager to ensure there is a strong ROI when renewing event sponsorship agreements. The sponsor understands that the impacts of Covid-19 on the ROI of their recent sponsorship deals are at no fault of the planner. However, the sponsor wants to make sure that the event planning committee is making the necessary transitions to virtual platforms to continue high engagement with attendees.
After reviewing all of the elements contained in this document, create a strategy and develop tactics to achieve a successful outcome for your role in this event planner vs. sponsor renewal negotiation. Please, feel free to complete and utilize the Negotiation Planning Worksheet as your guide.
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