Why should you spend time and resources researching, contacting, and securing event sponsors? Is it really necessary? The answer to that question depends on your organization and the kind of event you plan on hosting. But in general, yes, securing event sponsors is worth the effort for three main reasons.
Running an event is an expensive endeavor. Rarely are ticket sales alone enough to break even—at least not while keeping ticket prices affordable. Secure event sponsorships. In , sponsorship spending, according to Sponsorship. If their predictions are true, event planners will be even more hard pressed to find sponsors to fund their events, whether in-person or virtual.
Securing event sponsorship dollars will allow you to plan a financially viable event and keep ticket prices down, ensuring more attendees will be able to come. To dive deeper into budgeting for your events, check out our tips for building your event budget in Most of us would rather attend the event sponsored by Amazon, even if both events were being put on by the same company, were on the same topic, and had the same speakers.
Because Amazon is one of the biggest companies in the world and if they decide to sponsor an event, then it must be good. Lastly, sponsors may be able to provide your event with other resources and perks beyond just money and credibility. For example, perhaps your event partners with a local restaurant. Another perk that sponsoring companies can provide is increased exposure for your event. The customer may decide to attend your event because they trust the sponsoring company. How do you find potential event sponsors, convince them to partner with you, and create valuable sponsorship packages?
First, you have to know and understand the particulars of your event. What type of event are you producing? What is your overall vision for your gathering and what goals are you hoping to achieve? Also, what sets your event apart from other events on similar topics?
These are the kinds of questions that potential event sponsors will ask you. Think about these as you work on your event strategy. Rather than spamming every business you find and presenting them with event sponsorship proposals, we recommend that you first identify the kinds of companies that would be a good fit.
Then reach out and interact with only those brands. But a company like Aetna or another health insurance company could be a great fit. She makes every decision, including sponsors, on whether it builds trust with her audience and supports her message.
Taking the time to find the right partners will also save you time and increase your success rate. Knowing your event particulars and the kind of companies you hope to partner with is great. But you still need to actually go out and find organizations that fit your criteria. These tools make it easy to connect with potential event sponsors and even send them an event sponsorship agreement if they seem like a good fit.
You can also check out our virtual event sponsorship workbook to guide you in the new virtual event domain. These three tips are still essential to your success:. At this point hopefully! Knowing this will help you communicate value, which you must do to secure partnerships. No organization will support your event out of the goodness in its heart. There needs to be an equal exchange of value and you need to communicate this value in your pitch.
Also include information like how many attendees you expect to have, your audience demographics, brands that have sponsored your event in the past, the ROI previous sponsors received, and any other pertinent information.
But in general, do your best to communicate value. Call out the value sponsors will see if they partner with your event and focus on the benefits of a virtual event. There are better ways to break the ice and get down to business. I was blown away!
Remember — sponsorship is supposed to be win-win. Asking a prospective sponsor for help taps into their ego. The key to success, according to Price, is making your request seem effortless. You can demonstrate how much you respect their time by keeping your request concise.
By now, the potential sponsor should know who you are and what you want from them. The last piece of the puzzle is telling them what you want them to do.
Be explicit and include a clear call to action. Sponsorship is a relationship business. The better you can build connections with your potential sponsors and establish trust, the more valuable your event will become. Use event sponsorship levels and benefits to create easy-to-understand tiered options. Below are examples of standard sponsorship systems that you can use to get vendors and potential partners to agree to sponsor your online or in-person event.
You can see how the benefits for the sponsor increase alongside the cost of sponsorship. Many event creators will also have one main sponsor, who will have exclusive benefits that are not available to the other, lower-tiered sponsors.
Some of the other event sponsorship packages that you could consider are:. When sponsors have taken the time and financial commitment to sponsor your event, you want to ensure that they feel valued. Here are some of the methods you could use to thank your sponsors:. Take a few moments at the end of the last session, or during an award or networking party, to thank your sponsors and make them feel appreciated.
This is a great time to gather feedback and broach future opportunities for partnership, too. Post-event, send sponsors a thank you note, preferably one that is handwritten and personalised. This shows more effort than an email and is something visible that the sponsor can keep, helping to reinforce your event in their mind. Try to think about a creative and entertaining way, such as using video, an Instagram story series, or photos of them from the event. Creating a case study on your website about the sponsor and their involvement in your event will help them to receive additional exposure and gives you a reason to stay in touch after the event.
This has the added benefit of being collateral you can use to entice new sponsors next time. Luckily, there are a few strategies you can use to make your event a more attractive sponsorship opportunity. For many events, sponsorship is the key to powerful marketing. In addition to raising funds, having one or more event sponsors can open up opportunities for:. All in all, there is a lot to be gained from this type of strategic partnership. But not every event needs a sponsorship to be successful.
Obviously, there are lots of reasons why events big and small need sponsors. In fact, all it takes is a little research and an understanding of what sponsors are best for your unique event. And you might even find that because event sponsors are reaching out to you. The key to choosing the best sponsor for your event is to fully understand your event goals, know what you want out of a sponsorship, and get really clear how your event provides value to potential sponsors.
A little creativity and some elbow grease are required, but finding options for event sponsors is a super attainable goal. It turns out that this is a common problem for both event planners looking for sponsors and sponsors looking for events.
Thankfully there are now a few reliable solutions on the market that can help:. Even if your goals are strictly financial, not just any old sponsor will do!
And, if you have more than one event goal, you can utilize a combination of sponsors to achieve them. Event sponsorship retention rates are slipping.
These brands already understand the value of event sponsorship and are likely to keep investing in this type of marketing because it benefits them as well. Plus they already know that their audience will align with yours, which makes pitching a little easier. Event sponsor pitches and meetings are time-consuming, which is why limiting the number of brands you reach out to is essential. Cherry pick the names on your current list that represent the key goals and image of your upcoming event.
Your target market research should reveal all the interests, social media accounts, and brands your audience loves. For an attendee, seeing a recognizable name on a sponsor list can be nice.
But seeing a name they know and love can be downright exciting. It really helps make them feel like they belong in this ecosystem of interconnected brands and values. The same principle applies to event sponsorship proposals.
Your proposal has to stand out. After all, the company likely reviews proposals like yours almost daily. So why should the company sponsor your event over other opportunities? Be specific about the funding you need. Break down what the financing will go toward, such as venue rental, food, flying in guest speakers, and so forth. Sponsorship has to be a give-and-take relationship. Sponsors want as much bang for their buck, of course.
So what will the sponsors get out of funding your event? Sponsoring your event is a risk, especially if your company is relatively small. Instead of requesting the full amount you need, ask for a smaller portion in exchange for something small in return.
This strategy works especially well if you want to work with this sponsor for future events. The sponsor can use the test run to gauge whether to work with you on future events.
If your company is young or small, it might not have enough brand recognition or credibility to attract event sponsors. The solution?
Reach to other companies in your industry and partner up to produce the event. When potential sponsors see a more established brand attached to the event, they might have more confidence in the event. It may be better able to draw a bigger event turnout. What kinds of companies are best for a joint partnership? Otherwise, there will be a conflict of interest. If your company sells dietary supplements, for example, try partnering with an exercise equipment brand. Take advantage of these moments by noting them in your proposal and possibly weaving it into the event.
If the sponsor just released a new product, you can help them market it at your event.
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