Being an event manager is a challenging task. And for an event planner find sponsors for events is no less than fighting a war itself. You don’t necessarily have funds all the time. Event planning and event management require a massive amount of energy and funding. To make your event fully equipped, you need finance to process it all.
Event planners need venues, digital platforms, props, ticketing, and whatnot to organize an event. And all these things require a good amount of cash. Hence, it would be best if you had sponsors for an event.
Now you will be worrying about how to approach a sponsor? Who will want to provide us with that much funds?
Once you have sorted your planning and budgeting, it gets easy to go in the direction of finding potential sponsors. Seeking sponsorship shouldn’t be exhausting. Here we are trying to make your job of seeking sponsorships easy. So how do you find sponsors for an event?
Thankfully we have few strategies on how to find sponsors for your corporate event or artistic event.
Shared Goals And Benefits For Potential Sponsors And Organizers
It is not just you who are seeking event sponsorships. Even the companies seek event sponsorship opportunities. Event sponsors come with not just one but multiple benefits. Covering your event budget provides valuable insights and guidance from the years of their event experience. Even when your company has enough funds to organize an event, it is essential to have an event sponsor for good credibility and brand awareness. And these are the same reasons why other companies seek opportunities to sponsor corporate events. Here are some listed benefits your company can have with sponsorship:
For any successful event, audience and attendees are essential. Both the organizers and the sponsors can provide new consumer leads to each other. When both the companies have shared goals and the same target audience, it is a win-win situation. For including data in your proposal, you need to have a ticketing platform that allows you to own your data like AllEvents
Social Media Marketing:
In the digital era, media promotion is limited to billboards or newsletters. Social media is a vast and vast platform to reach millions of people in just one click. Companies give event sponsorship to elevate their social media impressions with mutual benefits.
Access to new demographics:
Sponsorships offer a varied range of demographics. Due to lack of resources, there are certain areas you cannot reach; sponsorship gives exposure to those inaccessible areas.
Steps To Follow Before Approaching A Sponsor
How To Find perfect Sponsors For An Event
Explore all your options to find companies to sponsor your event. Keep your search to find event sponsors in every possible way. There is a pool of event sponsors available out there. Explore and search your online options. Yes, you will find plenty of sponsorship companies online that are a perfect fit for your event. In addition, some companies are established to provide corporate sponsorships and event sponsorships.
A detailed list for the online marketplace to get sponsors is given below that will help you find perfect event sponsorship leads.
The sponsorship collective’s president and CEO, Chris Baylis’, is an aggressive investor to sponsor corporate events. It is a company with a simple motto of helping the sponsorship seeker. By providing sponsorship, they help in building brand and valuable assets. Seek your Chris Baylis.
Create your appealing and aesthetic business proposal and post it on this network. Potential sponsors will look through your projects and proposals. This is a highly effective website emphasizing virtual proposals.
SponsorMyEvent is the best networking platform connecting event organizers and event sponsors. The best thing about this site is that it features all ranges of event sponsors. In addition, it is functioning as a sponsorship management tool, which facilitates payment options as well.
This is an angel site for multiple organizers. It provides you with numerous event sponsoring brands and opportunities. It gives you analytical results and appropriate statistics to make decisions & aware of your competitors.
It is one of the best digital platforms for corporate
Sponsors and all the other events as well. It is a strong sponsorship marketing consultancy connecting and networking among event organizers and sponsors. Find some of the best sponsorship companies here.
Identify Your Potential Sponsors
Sponsorship is a mutually benefiting partnership between the event planner and the firm sponsors. Organizers need to be updated on the news about the company to know about its businesses and policies. It would be best to be sure that you pitch your event proposal to a potential firm or an individual. It is essential to know if your sponsor is interested in the type of marketing and event you will be organizing.
Know for what particular thing you are seeking sponsors. Obviously, you don’t have to restrict yourself from having multiple sponsors.
- Brand Building
- Marketing for increasing sales
- Seeking sponsorship in cash or in-kinds
- Creating brand image
- Shared Publicity
- Product Development
While creating a list of potential sponsors, make sure your goals are aligned with your targeted sponsor. For example, the event’s demographics, the target audience, and the purpose of the event are carefully matched with them.
E.g., If you are organizing fitness events, your target sponsors would be energy drink companies, gyms, or sports institutes. You will not go to a fast-food chain to sponsor you for the event.
Know Your Sponsors
Have detailed knowledge about the sponsor you are about to approach. Make sure you have done a background check about the vision-mission of the firm or an individual. Many times firms only sponsor during a particular period of the year. Be updated whether the firm or an individual is interested in sponsoring.
- Clearly understand the type of firm
- Marketing product or services.
- Potential target audience
- Do their brand values and your brand value the same?
Know whether the sponsor has enough money for the sponsorship you are looking for.
Put yourself in the sponsors’ shoes and ask would you accept the benefits you are offering to them to allocate the budget. Always ensure you have a good fit and share benefits.
Be Specific About The Type Of Event Sponsorship
Be specific about what kind of sponsorship you are seeking. Sponsorship options include money, marketing, and in-kinds. Generally, there are four types of sponsorship. Event organizers can consider any one of them. If you have multiple event goals, you can approach multiple sponsors for each of your event goals.
Financial sponsorship is when the sponsor provides you direct financial support to exchange incentives and mentioned benefits.
Media sponsors are the most important to get your publicity and promotion cost under control. These sponsors will take care of your promotion and coverage or cut short your cost by giving funds in exchange for pre-determined benefits.
For example- A print media will cover your expenses of printing newsletters or banners. Some sponsors have a good reach in terms of social media presence. It can open doors for you to create your brand through social media platforms.
These sponsors offer you their services or products. They provide you with the props and material you need for the event.
For example- If you need a venue to organize your event. They fulfill your venue needs by lending you their space.
Promotional sponsors are generally influencers or public personalities. These influencers/public figures have a reach of hundreds of people. They can help you to promote your event by spreading the word in just a few minutes. In addition, they can boost fantastic energy in your event promotions.
Steps To Follow While Approaching Event Sponsor
How To Contact Your Potential Sponsor
There is a hierarchy and formal channel to contact sponsors. Firstly, find the sponsors related to your type of event. When you go for the company with the shared goals, they are more likely to sponsor similar kinds of marketing. This helps you make your business proposal with greater ease as both the board members of the sponsorship company and organizers are aligned with the goals, target audience, branding, and marketing strategies. Next, provide sponsors with an overview of your event campaign strategy.
Tip: One should not directly approach the board member or the higher executives. All companies have a hierarchy and channels to follow. Try to reach the employees and managers working in the finance department and sponsorship manager. Reach to the people handling sponsorship event proposals.
Prepare Yourself For A Sponsorship Proposal
Your sponsorship proposal should be in the right tone and pitch. Your pitch has to be communicated clearly with the sponsors. Highlighting what you are offering to your sponsor is essential. Further, include demographics, assets, costing, and marketing.
What Things To Include In Your Event Sponsorship Proposal
Now you are the most crucial phase of the process. Your event sponsorship proposals make all the difference. The success ratio of getting sponsorship depends on how well you impress the board members and CEO of the company.
Your pitch is the most critical part as you make your sponsor understand what you are offering them. Through your presentation and pitch, you give all the information about your event. Your pitch must include the points from the following list:
- What is your firm about?
- Event type and details
- What is your target audience?
- Where would your event be?
- Primary objective?
- What is your expected audience?
- What are you offering to your sponsors?
You can download this ready-to-use sponsorship proposal template. Just add your details and use this template to get event sponsorship.
List Your Assets, Marketing, And Demographics
Your proposal must include demographics, assets, and marketing. First, demonstrate and list all your assets and demographics. Then, mention all these steps while presenting your pitch. Demographics is what your location is and what your expected audience is. Assets include details about the location, what types of counters and focal points would be. Marketing contains details about the channels you are going to promote your event.
- Entrance and exit points.
- No of zones and counters
- Event programs
- Generally in includes the channels and branding locations
- No of banners
- Locations of banners and logos
- Mentioning of sponsors
- Exhibiting counters
- Digital marketing mentions
- Newsletters and Mailings
For example, if you have a virtual event, open your digital space for your sponsors to promote them. For offline events, give them space to put their banners, give them space in your newsletters and mailings.
Your potential reach plays a vital role in getting sponsored. Sponsoring firms or an individual will only be interested when a large and targeted audience is available. They will like to know who they are reaching through you and how it will benefit them. Keep the following points in mind from the list below:
- Add up to the sponsor’s targeted audience.
- Consumer leads through the proper channels.
- Giving access to your demographics.
For instance, if you organize an event virtually, give your sponsors a session to talk about their products and give them digital and offline leads to new consumers and others.
If you organize an offline event, give your sponsors access to exhibit their counters for their products and services.
Use Data Visuals, Graphs, And Numbers In Your Proposal
Get heavily loaded with the data, numbers, and graphs. Your proposal should include a spreadsheet showing graphs and data that represents the number of expected attendees, social media engagement, past event data, and others. Some of the crucial visual data to include are:
- Number of expected turn up
- Revenue from past events and expected revenue
- Categorize marketing budget, promotion budget, and so on.
- Number of check-ins
- Digital marketing levels.
Budgeting Packages And Incentives
Here comes the primary concern. It is the step where you mention your needs and expectations for funds. Sponsors are always interested in knowing the rate of returns. Sponsors contribute a certain amount in your event in exchange for benefits from your event. Categorize your sponsorship in multiple tiers. Give your sponsors funding options and what ROI is on that particular tier. You may get numerous sponsors for your event who are willing to provide you with small amounts. Be ready to accept fundings in small quantities or in-kinds.
Manage your sponsorship packages. Let us suppose you need to find event sponsors for funding of $50000.
$25000- Multiple Incentives option, media publicity, exhibition space, and small session in the event.
$15000- Three incentive options, media publicity, and exhibition space.
$10000- One incentive, media publicity.
Also, let them know you are accepting in-kind sponsorship.
For example, you are approaching a print media firm for event sponsorship. Let them sponsor you by printing your tickets and newsletters. It can save your ticking and printing cost.
A point more,
Steps To Follow After You Find Out Event Sponsors
Follow Up With All Your Sponsors
After you have pitched your proposal, make sure you connect with the sponsor for the follow-up. Do not think that the sponsor will email or call you to update you. Sponsors are an integral part of your event. Generally, organizers do not involve sponsors much in the event process, but it is okay to ask their opinions and insights. It gives a sense of belonging and importance to the sponsors. Always provide the event sponsor something to look forward to. This will build a good reputation for you and your brand.
For example, if you have set up a meeting at a particular time, make sure you are available. It shows you respect your sponsors. Keep asking them for their opinions and insights; it makes them feel important. Stick to your schedules and appointments. If you do not have time, drop a formal email to connect with them.
Know that it is OKAY to say NO to your sponsors. When the offered amount and the incentives are not matched, you can say no to your sponsors. If your sponsors ask you to compromise and negotiate more on your level, you must say no. In such follow-ups and dealing, you will need to make hard decisions. Before accepting any offers, think twice.
Networking And Building Relationship
Sponsorship opportunities can strike at any place and at any time. Your past sponsors or the sponsors who rejected your particular proposal, or any business individual can become your angel sponsor. Event sponsors who were not fit for your event might be a perfect fit for your future event. The bottom line here is to maintain relationships and to network with any company or individual who has the potential to sponsor your event. It is the easiest way to get sponsors for your next event.
For example, you can email them on festive occasions, giving them best wishes and regards. There are many simple ways to communicate.
You need to think about long-term benefits. Your hunt for sponsors is not limited to the only current event. In the future, you will be organizing more events. Find such event sponsors & Work on maintaining and building rapport with all the sponsors you have met. Build relationships with past sponsors as well as existing ones. Include the sponsors who did not contribute to the particular event. Keep the record of all the potential sponsors for your future events.