Event organizing is a pretty big task, yet many are hooked up and doing it for a living. If you are planning to be a planner, you might encounter one of the most known issues in the industry – how to get sponsors for an event.
Spray-and-pray is the most common strategy used by event organizers for securing sponsorships. That is, they will take advantage of any sponsorship opportunity available to sponsor their virtual, in-person, or hybrid events. And that’s how many organizers fail – they ignore the saucy process on how to get sponsors for an event.
In their efforts to gain sponsorships, they neglect to learn what sponsorship prospects are looking for and what motivates them to become sponsors, or worse yet, what turns them off. If they ignore knowing the needs of potential sponsors, it will cost them more to bring in sponsorships.
What is Event Sponsorship?
Many businesses, organizations, and companies sponsor events by providing products, services, or financial support to the event. The business or organization providing this support is known as sponsorship.
As a promotional strategy, it entails two parties agreeing to work together so that they each benefit. It can be instigated from either side. If an event organizer identifies prospective sponsors, they may contact them to ask if they are interested in sponsoring the event and talk about the event sponsorship. Alternatively, a company sponsors an event that interests them.
The Benefits of Event Sponsorship
The symbiotic relationship between the event organizer and event sponsor is significant for several reasons.
Event sponsorship is:
- a great way to advertise your product for you will be rewarded with brand values, brand awareness, campaign strategy, and marketing opportunities.
- a low-cost marketing strategy that can be used for both large and small businesses.
- providing an opportunity for potential sponsors to have their brand or logo seen in many different places at one time.
- providing the needed funds for the event organizers to cover the costs of hosting an event and receive free products.
- Helping event organizers with promoting their events and making them more successful
Ultimately, sponsorship offers several benefits to both the event planner and the event sponsor.
The Different Types of Event Sponsorship
There are four main types of sponsorship that event planners could consider. These are categorized in a Gevme article and summarized below. It’s essential to know the difference between each type and what they can offer you.
This type of sponsor gives money to your event in exchange for a series of predetermined benefits. All these benefits underdo a business deal. Both parties talked about the event vision, event data, and all the necessary information an event planner and potential sponsor should discuss.
One standard agreement is the placement of the brand’s logo at the event venue, promotional materials, pre- and post-event content development, and any event-related activity
The marketing campaign is essential for an event to reach its target market and even potential partners. However, the event budget required to gain media exposure is frequently prohibitive. As a result, securing a media sponsor might be quite beneficial.
These media sponsors can pay for media coverage, whether a TV ad or an article in a relevant publication. They may also promote your event through their channels or social media platforms.
Instead of cash, this sort of funding emphasizes the giving of goods or services. This could be a location, catering, food, drinks, or additional event sessions.
Ideal sponsors for this matter are Red Bull, Pepsi, Nestle, and other companies. These brands can help with media and financial needs but usually participate with in-kind sponsorship, which allows them to build their brand recognition.
These days, social media presence plays a significant role in establishing a brand, so gaining access and taking advantage of social media posts can also help your business be popular in the market and attract event sponsors for your future events.
Partnering with public figures, bloggers, or local celebrities who have considerable influence and a large number of followers can help your event get traction. They may assist you in promoting your event to their respective audiences in a variety of ways.
When choosing an influencer to work with, having those with significant social media impressions but hitting your target market is recommended.
How to get sponsors for an event?
- Determine your event plan
- Create proposal options
- Identify potential event sponsors
- Honor sponsors at the event
- Follow up afterward
Where can I get sponsors for my event?
Sponsorships play an integral part in any event marketing campaign, but knowing where to look for the right event sponsors can be a daunting task nor a dilemma.
If you want to work with a broader group of organizations, to sponsor an event, there are numerous web resources available for this purpose. The sites listed below can help you obtain a sponsor for your next event.
SponsorMyEvent is a platform for organizers and sponsors to network for prospective collaborations. for potential partnerships. Sponsorship opportunities are displayed on the homepage, along with their minimum price ranges. Sponsorship management tools are included in the site to organize and manage their strong data visuals easily. This search engine is used by many brand names like Forbes and TEDx.
SponsorPitch connects sponsored brands with opportunities in a swift and sensible way. Members can automatically identify new partnerships and access to a timely manner sponsorship recommendations based on analytics and predictive intelligence to help them analyze their competition and make smarter decisions.
Sponseasy is, in essence, the Squarespace of sponsorship proposals. It’s a drag-and-drop builder specifically made for sponsorship desks. Organizers create a visually appealing event sponsorship proposal and then post it to the network to appeal to potential sponsors. Its emphasis on visually compelling proposals sets it apart from other platforms.
SponsorPark allows the planner to find event sponsors and create a proposal in their online system using a step-by-step guide. These proposals will be added to their list and sent to potential sponsors for events of this type. Events under the arts, entertainment, sports, festivals, and special causes are the most appropriate for this platform.
OpenSponsorship focuses more on securing event sponsors for athletes, teams, and sports-related events. The company’s goal is to make sports sponsorship more accessible because they are well aware of how crucial sponsor is to the athletes, teams, and the whole sports event.
These are all excellent strategies to get in front of companies and multiple sponsors who are looking for event partnerships. Each of these tools aids in the creation of the optimal event sponsorship package as well as the development of meaningful connections with the right sponsor.
How do you get a company to sponsor you?
Have a clear event purpose and end goal
Before you even start organizing an event, you should identify your event goals and purpose. These are the following questions that are key decision-makers that you may ask yourself.
- What is your purpose in producing it?
- What do you hope to achieve as a result of your efforts?
- How are you different from other similar events?
When sponsors receive your proposal, they will ask these questions. By executing this exercise, your submissions will be unique and enticing, and you will appear highly organized and enthusiastic, which will build your prospects’ trust in you.
Define your sponsorship criteria
Defining your criteria will allow you to determine whether the company is appropriate for your event. Besides saving time by avoiding reaching out to non-aligned companies, you’ll also be introducing your existing audience to companies or local businesses that can provide a product or service they need.
Focus on identifying what associations would make great partners for securing profitable and productive sponsorships. Are you finding event sponsors that understand the value of event marketing? Does their target audience match yours in terms of demographics and interests? As a result, you’ll see how you end up with a broad range of options you can select from.
Defining sponsorship criteria will not work if you are not aware of what your event is all about. So here are some events for your reference
- Fundraising event
- Charity event
- Social event
- Trade show
Make a list of the sponsors you’re trying to attract
You can create a list of company sponsor based on the nature of your event and the type of sponsor you’re searching for. You can utilize existing tools to help you find them, such as SponsorPitch, SponsorPark, Sponseasy, or SponsorMyEvent. You should include data relevant to your event when listing down potential companies, such as the contact information of the decision-makers.
Research the same events and find out who sponsored them.
Do your homework! You can find event sponsorship opportunities by reverse-engineering the process and researching sponsored events similar to yours to learn which companies provided financial support and other types of funding.
As these associations recognize the value of event sponsorships, they are likely to continue investing in this form of marketing. Furthermore, they already know their target audience aligns with yours, so it is easier to reach out to them.
Have your audience help suggest sponsors
Why not also ask your attendees for sponsorship suggestions when looking for events that share your target audience? This shows them that their thoughts are appreciated and may benefit the local community.
Think about it, do you want companies that don’t resonate with your attendees? That makes them feel as if they aren’t a part of the ecosystem? If attendees recognize a brand on your sponsor list, it is easier for them to connect with that brand. Don’t be scared to get assistance from your audience!
Event sponsorships are never easy to find, but they might be much easier and more enjoyable than you had imagined with the right tools and strategies. Being knowledgeable isn’t the only key to success. To achieve the best results, pay careful attention to the needs of your sponsors and implement these proven strategies for the triumph of your event.
This read gave out a lot of ideas on how to get sponsors for an event, so I hope this helps as you find sponsors for your event. Also, always remember that event organizing is not just about the event ROI (return of investment) or meeting your own financial goals. Being an event manager and creator means entertaining the target audience and leaving laughter and smile on their faces.