When planning an event, one of the most vital things to do is finding sponsors. “Why do you need sponsors?” Well, apart from the financial aid, getting sponsors also help you build networks and connections for your organization and your events. This will ultimately help you gain audience and visitors apart from your selected scopes only.
And unless your company or organization is already well established or willing to organize the event on its own budget, you’ll want to have a support for the financial aid to organize the event and to which the logical solution is to seek out for sponsors for your event.
So, how exactly do you get sponsors for your event? Here are some tips for you to help you get those sponsors for your event:
1. Build a brand image for your event
Crafting a strong brand image for your event becomes much crucial when attracting sponsors. Because when they evaluate your company or want to do business with you, often the first thing they do is check your business website to see if they are legitimate.
So, if you have an old website and outdated event design, what kind of impression does that make? Always keep in mind, by sponsoring you, they are aligning their brand image with yours, and if your brand doesn’t reflect a professional, clean image, they’ll probably take their sponsorship elsewhere.
Therefore, it’s necessary for you to build a strong brand image for your event. You can do it by either spending some funds or hiring a professional designer to create your brand materials for your event.
2. Study and know about your sponsors
Before you approach the sponsors asking for fundings, you need to know about their marketing objectives. Do your homework on each sponsor you reach out and study the recent transit they are going through.
Follow the sponsor on their social media and their blog. Maybe they are amid releasing a new product or even hosting an event of their own. By incorporating it into some form of your event, you can take advantage of these moments.
Reach out to the sponsors and tell them why your event is a great platform for them. How can they acquire a new audience base and showcase their product or advertise their services? Tell them with a plan on how your event can profit them in relation to that product launch or another major happening.
3. Write a unique preliminary proposal
Sponsorship requires a sincere interest from both sides; yours in the sponsor’s objectives and theirs in your ideas on how you can help them achieve their goals. So, it is better to craft a business proposal with a solid understanding of potential sponsor’s needs and objectives.
Here are some tips on writing a winning proposal:
1. Ask yourself first, are you a “good fit?” and do you “get it?”. If your organization has nothing in common with the prospect, it likely will not be a good fit for a sponsorship.
2. Discover the value of the event sponsors. Understand who has the authority to accept your proposal and contact them.
3. Start by outlining the sponsor’s key objectives, briefly mention the value your sponsors will gain and pivot to the pitch.
4. Have a plan for relative benefits and number of sponsors and also asset allocation like title sponsors, major sponsors, media partners, expo exhibitors, etc.
5. Describe your company. Tell about the works your company has done in the past and tell them what your ongoing projects are about. After all the real-time work examples describe best about what you do.
6. Provide a detailed description of what your sponsors will be receiving, including their return on investment (ROI).
7. Encourage feedback by asking for their opinions regarding your proposal. This persuades the sponsor to continue negotiating and refrain from objecting to it.
Proposals that are written uniquely are able to stand out from the rest. But still one with a more clear and concise objective supported by the facts that you’re able to pull off that event is more likely to get accepted. So, always add the data that support the idea of your proposal about the event.
4. Offer incentives
What do sponsors get in return by sponsoring your event? There always should be a give-and-take relationship between you and your sponsors. Let your sponsors know what they will be receiving in return and how it will benefit them. Sponsors want as much bang for their buck. What can you do for them to provide more bang?
Here are some of the ideas to mellow the deal:
- Give the sponsor an exhibit or placing their logo on event promotional banners, videos, and pamphlets.
- Provide discounts for the customers that sign up for the sponsor’s services or purchase the sponsor’s product.
- Encourage your social media followers to check out, like or share the sponsor’s content.
Remember, always be more giving than taking. That shows the sponsors that your intent on making the event a success is quite serious.
5. Fulfil and follow-up
After the successful completion of your event, it is necessary you provide the evidence of fulfilment of all those benefits you promised in your proposals to.
This can be done by:
- Writing a formal fulfilment report to your sponsors.
- Include stats such as event attendees, social media data, web traffic, etc.
- Include photos and videos of assets, logo placement, screenshots of the website, program ads, product placements and action shots of sponsors interacting with attendees during the happening of the event.
- Invite them to a meeting and present them with everything that proves return on investment and that your team and you went beyond and above.
Keep your relationship with your sponsors far beyond just a transaction. By the time you have completed a project with the sponsors, you have already known them.
So, don’t hesitate to ask them for their honest feedback. If your sponsors are willing to give you genuine feedback, then that means they really care about their investment. Meet with them, gather more intel about what they want you to do more.
You can use this information to match up to your sponsor’s expectations by offering them to include them in your promotional updates like displaying them on your website and emails. This will help in maintaining a long-term relationship with your sponsors.
At the end of the day, the secret to getting a sponsor for your event is to properly understand the needs of your sponsor and be effortful and flexible enough to meet them. Don’t be afraid to rub elbows with potential sponsors and always be confident in your approach. Always fulfil your sponsor’s needs and don’t forget to follow up even after the event is over.