The needs of sponsors have increased significantly, which is why event organisers must know how to get sponsors for your event better than anyone else.
What is Sponsorship?
Sponsors offer funding, products, and services to support your events, trade shows, teams, nonprofits, or other organisations. For many event managers, sponsors are a major source of income. They either make your event profitable or allow you to invest more in it.
Does your event need a sponsor?
It is important for companies to select events that are appropriate for their brand, product, or corporate image and align with the sponsors’ expectations. Once you have decided on the vision for your event, you must find potential sponsors who share that vision.
Benefits you get
Sponsors don’t just help with the budget, they also help you organise and promote the best events. To gather and connect all your efforts, it’s important to create unique offers and support them with well-planned event organisation ideas when finding sponsors for an event. If they meet the sponsor’s expectations, be sure to get their help in your event organisation and management process.
Building brand awareness
The best way to get sponsors for an event is to offer brand promotion in exchange. By getting the influencers to display your product, inviting sponsors into your niche is a great way to increase overall brand awareness.
Increasing sales numbers
Sponsorship incentives drive sales. You will also improve your sales performance, reduce your cost of selling, and ensure your company’s survival.
Improving brand image
With the help of sponsors, you will be able to create only high-profile events that improve brand image. Getting sponsorships for events also means improving your event manager’s reputation.
Challenges and pitfalls
While making up a proposal for event sponsorship, you should also consider the possible challenges. Controlling any business sponsorship proposals, you may face:
- Differences in management styles and event expectations
- Personal habits/interests
- Financial problems and equity issues
- Setting boundaries/limitations
- Commitment/responsibility levels
- Disparities in skills and roles
- Inadequate income share
- Disadvantageous partnership contract, terms, and other issues
Be ready to research how to attract sponsors for an event that are the best on the market and be able to negotiate for the best contracts.
How to find sponsors and where to look for them
Here are some ideas on how to find and invite sponsors for an event.
Create a list of sponsors
Learn how to choose the right sponsor for your business. Go into business with a friend or a like-minded person and create a list of potential sponsors.
Create a sponsorship proposal
Create a proposal that will demonstrate the benefits of event sponsorship to your partners and convince them to join your project.
Connect with event sponsors
Ask people from every area, from marketing to sponsors, vendors and beyond to determine if there are any partnership intentions from them to choose from. Take advantage of networking—either online or through in-person events or a series of events.
Design your event to attract sponsors
Tap into your coworker pool, both past and present. Present your event concept in a way that impresses the partners and attracts them for long-term cooperation.
Build a long-term relationship to keep sponsors
Your local business paper will have a calendar of networking events. Check them out and start strategic sessions with your prospective partners to keep them happy and ensure that you can retain them.
How to create a strong event sponsorship proposal
Make an announcement on social media, your website, via the corporate blog, or any other channels pitching to big event business. First, clearly tell your potential partners who you are and what you want from your relationship. Understand the competitive landscape, think globally, and include that in your pitch proposal.
Things to include in the proposal
When you need to write an event proposal for sponsorship, remember one of the things you must include is a hook. A good business proposal should catch the reader’s attention and make them want to read more. This item is important, as it is the whole reason you need to seek sponsor services. A plan, your qualifications, costs, and other important issues should also be included.
Ways to attract sponsors for an event in Asia
There are a number of practical tips for how to attract sponsors. Success will depend not only on how colorfully you describe the main idea of the project, but also whether you can correctly understand and meet the goals/mission of the partner.
Providing all the details in the proposal
When developing a detailed cooperation concept with a sponsor, consider the needs of visitors and everyone will benefit. Sponsors should be an integral part of everything that happens at the event. In the world of the modern event industry, they can be represented by a stall with free snacks, decorated with the sponsor’s logo, a lounge area, a dance floor, an interactive game, or simply a point where anyone can charge their mobile phone.
Offer the sponsor incentives
Give partners a feeling of privilege: book the best table in the hall, prepare memorable gifts, or arrange an exclusive meeting with celebrities, if the latter are participating in your event. Sponsors will appreciate the attention on their brand, which shows that you are genuinely invested in their success.
Offer a “minimum risk” solution
Be prepared for lengthy discussions and negotiations aimed at getting a lower price and committing to a long-term contract. Try to seduce your sponsors with low-risk projects, particularly if it is the first time they’re working with you.
Form a partnership with more established companies
Partnering with a more established company in order to have a greater sense of stability as the new company grows is always a wise choice.
Study what your potential sponsors are up to
Before an event, ask direct questions: “What do you expect from the event? What are your goals?” Forget about the standard sponsorship package, as they’re no longer in vogue. Uniqueness, personalisation, a deep understanding of the sponsor’s needs, and the ability to find an individual approach in making the event ideas come true is far better.
Use data to make investors feel confident
Increase confidence in their decision by making data a key part of your sponsor pitch. Apply data-driven investing principles.
How to choose sponsors for your event
In order to present your proposals to the right organisation, use the following tips for choosing the right sponsors for long-term and fruitful cooperation.
Choose an active sponsor: Think towards the future, because you may work for more than one year with this sponsor.
Choose a stable sponsor: Future sponsors should be available for getting in touch at all times. You should know as much as possible about your sponsor and be able to research more information, if necessary.
Pick someone available to talk to in real life: Chatting with the representatives remotely is one thing, but talking in person with the sponsor is quite different. The easiest and most effective way to get to know a sponsor is to have a talk with him or provide a few questions for them to directly answer.
This will allow you to assess the level of their professionalism. Ask the sponsor questions before launching the event project. After that, analyse all the points and make a choice in favor of the most reliable and responsive candidate.
Closing the sponsorship deal
Are you looking for ways to close more sponsorships? Apply a well-planned approach to help you stay focused and close sponsorship deals. Put together more sponsorship deals and establish a relationship that works for both you and the sponsors. Close your sponsorships with data-driven information.
Call to action
Looking for sponsors for events? Rely on event sponsorship planning help that will help you find the top search tools and recommendations.
The more you demonstrate what the profit and payback of sponsorship investments truly is, the happier your sponsors will be. Sponsors love investing in good events, but the primary interest is always a monetary valuation for their participation. Good luck!