Similar to other forms of advertising, sponsorships are a perishable inventory. Once an event has finished the sponsorship cannot be sold.
Because the cost of an event is fixed, using BizXchange as an additional marketing channel to acquire new sponsors can be a very attractive method to add incremental sponsorship revenue.
The cost to add additional sponsors is very minimal and the additional revenue would provide trade credits which then could be used to offset budgeted expenditures for the event such as:
- Media and advertising
- Travel and entertainment
- Capital expenditures
- Promotional products