We want to spend more time with our target audience outside of our booth at upcoming trade shows. Should we host our own hospitality event or sponsor something already organized by the show?

When you're trying to determine whether to host or sponsor, it's imperative to consider the type and number of attendees you're targeting. And to help wrap your mind around this concept, envision a sales funnel in which a large number of less-qualified prospects are at the top of the funnel and a small number of critically important prospects are at the bottom. Where are the majority of your targeted attendees in this funnel? That is, do you want an event focused on the masses at the top who might never have heard of you, the mid-funnel folks who are likely aware of your offerings but haven't made a purchase, or the bottom-funnel dwellers who are close to a sale? Once you've identified your target market and its location within the sales funnel, you can employ the following guidelines to help figure out if a sponsored or hosted event is right for you.

Top of the Funnel
People near the top of the funnel often have little awareness of your firm, and you probably have minimal knowledge of these prospects' individual needs as they relate to your products. As such, building brand awareness is likely a key objective with this audience. And while you can certainly host a massive private event to woo this crowd, you're probably better off sponsoring something – or a series of somethings – the show has to offer. Attendees will be more likely to attend a show-sponsored event than one held by a company they've never heard of. Plus, without a sponsorship, you may be hard pressed to obtain contact information for the masses, making it difficult to invite these people to your private event. So, when more is merrier, sponsorships often can make a bigger splash than proprietary events.

Middle of the Funnel
Someone located mid funnel is likely already in your database, and he or she typically knows of your products and services but hasn't purchased anything just yet. With these folks, your goal is to push them deeper into the funnel and closer to a sale. At this stage, it usually makes the most sense to put on your own event, as you'll have far more control of not only attendees' time and interactions but also the content of the experience. A sponsorship is simply not going to generate the personalized messaging necessary to move these people farther into the funnel.

Bottom of the Funnel
Not surprisingly, then, if your targeted attendees are close to a sale, you want to spend as much one-on-one time with them as possible. And you want this experience to be engaging, intimate, and definitely personal – objectives that are nearly impossible to achieve via large sponsored events.

As you can see, event selection is driven by your target-market goals. Just as with most marketing endeavors, it's critically important to tailor the event to attendees' needs, wants, and positions within the sales funnel.