It is not an easy job to be an event manager. Event planners find sponsors for events as difficult as fighting a war. It is not always possible to have enough money. Event management and planning require enormous amounts of energy and financial resources. Finance is required to make sure your event is fully prepared.
To organize events, event planners will need venues, digital platforms and props. All of these items require significant cash. Sponsors are a great way to make an event more memorable.
You will now be wondering how to approach a sponsor. We will need that much money from someone.
Once you have established a budget and plan, it is easy to start looking for potential sponsors. It doesn’t have to be difficult to find sponsorship. We are here to help you make the process of looking for sponsorships easier. How do you find sponsors to sponsor an event?
We have a few strategies to help you find sponsors for your corporate event.
Benefits and Shared Goals for Potential Sponsors
Sponsorships are not only for you. Event sponsorship is open to all companies. Event sponsors have many benefits. Event sponsors can provide valuable insight and guidance based on their years of experience. For good brand recognition and credibility, even if your company has sufficient funds to host an event, having an event sponsor is crucial. These are also reasons why companies look for sponsorship opportunities for corporate events. Here are some benefits that sponsorship can bring to your company:
Consumer Leads:
Audience and attendees are crucial for any event to be a success. Sponsors and organizers can help each other find new consumers. It is possible to create a win-win scenario if both companies share the same goals and target audience. You will need a ticketing platform that allows data ownership, such as Eventalways, to include data in your proposal.
Social Media Marketing:
Media promotion in the digital age is not limited to newsletters and billboards. Social media allows you to reach millions of people with just one click. Event sponsorship is a way for companies to increase their social media presences and reap mutual benefits.
Access to the new demographics:
Sponsorships are open to a wide range of people. Sponsorships allow you to reach areas that are not accessible due to lack of resources.
Steps to Follow Before Approaching a Sponsor
How to Find the Perfect Sponsors for an Event
To find sponsors for your event, explore all options. You can continue your search for event sponsors in all possible ways. There are many event sponsors out there. Search online for potential sponsors. There are many sponsorship companies that can help you find the right fit for your event. Some companies also offer corporate sponsorships or event sponsorships.
Below is a detailed list of online marketplaces to find sponsors that will assist you in finding the perfect event sponsorship leads.
Sponsorship Collective –
Chris Baylis, the president and CEO of the sponsorship collective, is an aggressive investor looking to sponsor corporate events. The company’s motto is to help the sponsor seeker. They help build brand value and assets by providing sponsorship. Find your Chris Baylis.
Sponseasy:
Post your attractive and visually appealing business proposal on this site. Potential sponsors will review your proposals and projects. This website is highly effective and emphasizes virtual proposals.
SponsorMyEvent:
The best platform to connect event organizers with event sponsors is SponsorMyEvent. This site features all types of event sponsors. It also functions as a sponsorship management tool that facilitates payment options.
SponsorPitch:
This site is ideal for multiple organizers. You will have access to many event sponsoring opportunities and brands. It provides you with the right statistics and analytical results to help you make informed decisions.
SponsorPark:
It is one the most popular digital platforms for corporate communications
Sponsors, as well as all other events. It’s a powerful sponsorship marketing consultancy that connects event organizers with sponsors. Here are some of the top sponsorship companies.
Identify Potential Sponsors
The event planner and sponsors can benefit from sponsorship. To be able to learn about the company’s business and policies, organizers must be kept informed. It is best to make sure you pitch your event proposal directly to potential firms or individuals. It is important to find out if your sponsor is interested and available for sponsorship.
Find out what you are looking for sponsors. You don’t necessarily have to limit yourself to having one sponsor.
- Brand Building
- Marketing to increase sales
- Sponsorship in cash or in kind
- Brand image creation
- Participatory Publicity
- Product Development
When creating a list potential sponsors, ensure that your goals align with the sponsor. Matching the event’s purpose, demographics, and target audience is important.
For example, if you organize fitness events, the target sponsors are energy drink companies, gyms or sports institutes. Sponsorship for your event will not be offered by a fast-food restaurant.
Get to Know Your Sponsors
You should have a detailed understanding of the sponsor you are approaching. Do a background check on the sponsor. Many times, sponsors only sponsor for a certain period of time. Keep informed about whether a firm or individual are interested in sponsoring.
- Be clear about the type of company you are looking for
- Marketing products or services
- Potential target audience
- Are their brand values the same as yours?
Find out if the sponsor has the money to provide the sponsorship you need.
Ask the sponsors to put you in their shoes and ask if you would accept the benefits they offer to allocate the budget. Make sure you are a good fit.
Please Be Specific about the Type of Event Sponsorship
Make sure you specify the type of sponsorship that you want. There are three types of sponsorship: money, marketing and in-kinds. There are generally four types of sponsorship. Event organizers may consider any of these. Multiple event goals can be approached by multiple sponsors.
Financial sponsorship means that the sponsor gives you financial support in exchange for mentioned benefits and incentives.
Media sponsorship –
To keep your promotion and publicity costs under control, media sponsors are essential. They will either cover your promotion or reduce your costs by giving you funds in return for pre-determined benefits.
Print media, for example, will pay the printing costs of banners and newsletters. Sponsors have good social media reach. This can allow you to build your brand via social media platforms.
In-Kinds Sponsorship-
Sponsors offer their products or services to you. These sponsors provide the props and materials you require for your event.
You may need a space to host your event. They can lend their space to you in order to meet your venue requirements.
Promotional Sponsorship –
Public personalities or influencers are often promoted sponsors. These public figures/influencers have hundreds of followers. These influencers can spread the word quickly and help promote your event. They can also boost the energy of your event promotion.
Steps to Follow When Approaching Event Sponsor
How to Contact Your Potential Sponsor
There are a hierarchy of channels and channels to contact sponsors. First, search for sponsors that are related to the event you are interested in. If you choose a company that shares your goals, they will be more likely to sponsor the same types of marketing. This allows you to make your business proposal easier as the organizers and board members of the sponsor company are more aligned with your goals, target audience and branding. Next, give sponsors an overview of the event campaign strategy.
Tip: It is not a good idea to approach the board member directly or any higher-ranking executives. Every company has a hierarchy and channels that they must follow. Reach out to the managers and employees in the finance department. Reach out to people who handle sponsorship event proposals.
Get Ready for a Sponsorship Proposal
The pitch and tone of your sponsorship proposal must be appropriate. The sponsors must be able to understand your pitch. It is important to highlight what you offer your sponsor. Include demographics, assets and costing as well as marketing.
What Should You Include in Your Event Sponsorship Proposal
This is the most important phase of the entire process. The difference between success and failure is made by your event sponsorship proposals. How well you impress the CEO and board members of the company will determine the success rate of getting sponsorship.
Your pitch is crucial as it helps your sponsor to understand what you have to offer them. Your presentation and pitch should contain all information regarding your event. The following points must be included in your pitch:
- What’s your company all about?
- Details and type of event
- Who are you targeting?
- Where would you like to hold your event?
- The primary objective
- Which audience are you targeting?
- What offer are you making to your sponsors?
List your Marketing, Assets, and Demographics
Your proposal should include marketing, demographics, and assets. First, show and list all assets and demographics. Next, you will mention these steps as you present your pitch. Demographics are the details about your location and your target audience. Assets contain information about the location and what counters and focal points might be used. Marketing includes details about how you will promote your event.
Assets
- Points of entry and exit
- There are no counters or zones
- Event programs
Marketing
- In general, in includes channels and branding locations
- There are no banners
- Placement of logos and banners
- Mention of sponsors
- Exhibiting counters
- Refer to digital marketing
- Newsletters and mailings
If you are hosting a virtual event, make sure your sponsor has access to your digital space. Give them space for their banners in your newsletters or mailings.
Demographics
Sponsorships are based on your potential reach. Sponsoring companies or individuals will only be interested in a targeted audience. They want to know the people they are reaching through your company and how they will benefit. The following points should be kept in mind:
- You can add up to the targeted audience of the sponsor.
- The right channels can lead to consumer leads
- Access to your demographics
If you host an event online, for example, offer your sponsors a chance to discuss their products and provide digital and offline leads to potential consumers.
You can give your sponsors the opportunity to display their products and services at an offline event.
In your proposal, use data visuals, graphs, and numbers
Don’t be afraid to overload your brain with data, numbers and graphs. A spreadsheet should be included in your proposal that includes graphs and data showing the expected number of attendees and past event data. These are some of the most important visual data you should include:
- Expected turn up
- Revenue from past events, and anticipated revenue
- You can categorize your marketing budget, promotion budget, etc.
- Check-ins
- Levels of digital marketing
Incentives and Budgeting Packages
This is the main concern. This is where you discuss your expectations and needs for funds. The rate of return is something sponsors are always interested to know. In exchange for benefits, sponsors contribute a set amount to your event. Categorize your sponsorship in multiple tiers. Your sponsors should be informed about the funding options available and the ROI for each tier. There may be many sponsors who will provide small amounts of funding for your event. Accept funding in small amounts or in-kinds.
Manage your sponsorship packages. Let’s say you need $50000 in funding for an event.
$25000- Multiple Incentives, Media publicity, Exhibition Space, Small Session in the Event.
$15000 – Three incentive options: media publicity and exhibition space
$10000- One incentive, media publicity.
Let them know that you accept in-kind sponsorship.
You might approach a media company to sponsor an event. You can ask them to sponsor your event by printing your newsletters and tickets. This can help you save time and money on printing.
One more point
Follow These Steps After You Look for Event Sponsors
Follow up with all your sponsors
Once you have submitted your proposal, connect with the sponsor to follow up. Don’t assume that the sponsor will contact you by email or phone to update you. Your event is incomplete without sponsors. Although organizers don’t usually involve sponsors in the event planning process, it is important to get their feedback and opinions. Sponsors feel valued and connected to this way. Give the event sponsor something to look ahead to. This will help you build a positive reputation for your brand.
If you have scheduled a meeting for a specific time, ensure you are there. Respect your sponsors by doing this shows that you value them. Ask them for their thoughts and opinions. It makes them feel valued. Keep to your appointments and schedule. Drop them a formal email if you don’t have the time.
It is okay to say no to sponsors. If the incentive and offered amount are not equal, you have the right to say no to your sponsors. If your sponsors want you to compromise or negotiate higher on your level, say no. You will have to make tough decisions during these follow-ups. You should think twice before accepting any offer.
Building Relationships and Networking
Sponsorship opportunities are available at any time and anywhere. You can sponsor your future event through past sponsors, rejections of your proposal or business partners. You might find the perfect match for an event sponsor who was not a good fit for your next event with one of your past sponsors. It is important to build relationships with potential sponsors and to network with them. This is the best way to find sponsors for your next event.
You can also email them during holidays, sending your best wishes and regards. You have many options for communicating with them.
Conclusion
Long-term benefits are important. You don’t have to be looking for sponsors just for the current event. You will organize more events in the future. You will need to find sponsors for your events. Establish relationships with both past and current sponsors. Don’t forget to include sponsors who didn’t contribute to this event. Keep a record of all potential sponsors so that you can use them for future events.