Everyone loves attending events, but as an event planner, figuring out how to pay for it can be a major headache. Luckily for you, depending on the size, scale, and audience, your event can be extremely valuable to companies and brands looking for exposure. Getting a sponsor for your event will allow you to pad your budget and maybe make a profit, all while providing advertising and visibility for your sponsors.
That said, finding and securing a sponsor is easier said than done. Many companies, especially large ones, receive sponsorship requests all the time, so you will need to figure out what separates your offer from the pack. Here’s how to properly approach a sponsor and entice them into purchasing with you.
Plan Out Your Sponsorship Offer
Start out by making a detailed list of ALL the possible things you can offer a sponsor. This includes signage, shoutouts, screentime, VIP packages, tickets, booth space, logo placement on merchandise, everything. Get creative! Check out what massive events like Comic-Con do and pay attention to where you see brand names. These are sponsors that paid to be in that position, so jot down any ideas that come to mind.
Most of the time, companies agree to sponsor an event because they believe that they will be getting good marketing value out of it, so find a way to quantify that marketing value. How many people will be at your event? What are their demographics? If you can come up with good, specific answers to those questions, you will have a better chance of proving that your event is a value place to advertise for a sponsor. Take this dumpster rental company in San Bernardino for example, who sponsored a local soccer team to be top of mind for young families in their local area.
Timing Is Everything
When it comes to large expenditures, timing is extremely important. Many companies plan their marketing budgets out as far as a year in advance, so you should come to them well in advance with any sponsorship requests. It’s also important to know the seasonality of your prospective sponsors as they might be easier to approach during a season in which they are making a lot of money.
Propose Different Packages
A strategy that established event companies often use is presenting different sponsorship levels to their sponsors. For example, they will have $50,000, $25,000, $10,000, and $5,000 levels, so if one price is too expensive for a sponsor, they have another one to choose from. This also gives you some negotiating room, as you can offer an expensive sponsorship package and then provide a discount or extra bonuses as an incentive to do business today.
Over Deliver
One sure-fire way to get a sponsor is to make an offer so good, they can’t say no. How do you do that? Ask them what they want, then craft your packages around their needs. Getting a sponsor to sign up for a second year is many times easier than convincing them in the first place, so don’t be afraid to give a discount or extra features to sign them and make sure that they are happy.
