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If you’re planning on hosting an event, chances are the idea of sponsorship has crossed your mind. In this blog we give you 7 tips to secure sponsorship for your next event.
Whether it’s financial means or an exchange of goods and services, sponsorship is a powerful marketing tool. Benefits do not only include funding, but also increased brand awareness and opportunities for generating leads for both you and your event sponsors.
Keep reading to learn all about how to get sponsors for an event:
Before you decide to pitch your event to a potential sponsor, you should clearly outline the core identity of your event. This can be done by answering these three questions:
Now that you have identified key elements about your event, it’s time to actively search for ideal companies who align with your mission.
A good place to start would be to look up other events similar to yours and check out their sponsor pages. There is a great possibility that you would be able to connect with these companies and form a lucrative partnership.
Also consider any companies or contacts that you have forged a relationship with in the past. Leverage this connection as you reach out to them for sponsorship. Those who know you or the brand you represent are often more likely to jump on board as a sponsor.
Be strategic. Approach brands who share a similar target audience as yours. By doing so, the sponsor will more easily see the potential benefit of sponsoring your event.
And last but not least, pay attention to the reputation of the company. What are they well known for? Have they been involved in any situation that will reflect poorly on your own company and event? Would your audience appreciate such a sponsor?
Your proposal has to stand out.
Think of it like job hunting, you need to give the employer a reason to hire you over all the other candidates. Chances are, you won’t send the same cover letter and resume to each organisation. Similarly, you need to add a touch of personalization to your proposal to each sponsor.
As you prepare your pitch, keep these elements in mind:
In any business relationship, a key question that comes about is, ‘What’s in it for me?’.
Don’t make the pitch all about your brand and your event. You really need to convince the company why they should ultimately agree to a partnership. Highlight the ways that they will benefit and what exactly it would look like for their brand.
Depending on the nature of the event, here are a few options you can consider:
Blow your potential sponsor away with statistics and information that would heighten your chances of sealing the deal. This can look like:
Not sure what key performance indicators (KPIs) to track when hosting an event? Check out this post for more information.
Keep in mind that timing is everything. This also applies to planning your event and trying to get sponsorship.
Firstly, you need to reach out within a reasonable amount of time to ensure that the company has enough time to deliberate and consider your request. From the moment you have decided to plan the event, be proactive with your outreach. Approaching companies within a reasonable time frame also shows that you respect their time and that you have put a lot of thought into planning your event.
Secondly, you also need to pay attention to the climate of the company. Are they in a position to provide financial support for your event? What are the peak periods for sales? This is a great indicator as to when you should reach out for sponsorships.
There’s money in the follow up.
It’s easy to interpret a lack of response as a decline, but give your sponsor the benefit of the doubt. Following up can look like a simple email inquiring as to whether your proposal was received and if there’s a possibility of working together.
Do not take for granted that you will get an immediate response or that you will get a guaranteed yes. In the event that you don’t obtain sponsorship from the company or companies you desire, would your event still be able to go on as planned? Be sure to have an alternative plan.
Pro tip: be sure to follow up even after you’ve secured the company as a sponsor and the event is done. A thank you letter goes a long way!
Securing sponsors for your event usually requires a lot of effort, but using these 7 tips are a great way to start securing sponsorships.
Good news is, you don’t need to figure out how to get event sponsorship on your own. TCJ Management is always here to guide event hosts like you through the process.
Book a free consultation with us below.
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