It seems rather obvious why organisers would want sponsorship for their event. For one to increase revenue, securing sponsorship can be the difference between making a profit and running at a loss. The other obvious reason is having enough capital to host the event in the first place. There are mass resources online to help you get started, some true and a bulk overloaded with information that you may not need so we’ve decided to remove the clutter and list the essentials.
Securing sponsorship can be the difference between making a profit and running at a loss. Click To Tweet
Before we dive into the core details you need to understand why? Why do companies sponsor events? Companies generally sponsor events to get some marketing value in return e.g brand awareness, public relation, customer loyalty and the common feel-good factor with all these leading to a sizeable return on investment. So without further ado.
Draft up sponsorship proposal
With the above in mind, it’s time for you to draft up your proposal starting off with what you are offering, why it’s right for them and your history to back up your promise. Ensure it contains what the companies might need such as age range, demographics, gender, occupation, interest, contact details, ethnicity, marketing channel, expected attendees e.t.c. This would help the sponsor know if what you are offering is tied to their aim and if they can use existing channels to ensure maximum return on investment. Here are a few templates to get you started.
Find the right sponsor
Remember organizers who target the right sponsors from the start are more likely to have a successful feedback. Don’t be lazy, do your research, find out who wants to reach your audience, their values, goals and note their details on a spreadsheet (be organized). Now it’s time to contact them. To make the first contact, general advice:
- Start by finding out who is in charge of marketing.
- Send them an introductory email (usually addressed by name).
- Schedule a call to either go in depth or to book a meeting if they are interested.
- If they are, CLOSE!
but ensure you are offering something they can’t say “No” to. Rule of thumb if you won’t accept it chances are they won’t accept it too.
Ensure you deliver what was promised. We can’t stress this enough, ensure you deliver and even overcompensate. This would help you secure future funding and close more sponsorship request. Examples of ways to ensure what you deliver:
Give your sponsors several outlets to promote besides the conventional flyers and posters. Ever tried charging station, custom giveaways or even the branded-sponsor photo. It’s been proven to be an excellent opportunity to give customers the feel-good factor and shed some positive light on sponsors.
A few ways to improve sponsor leads includes constantly sharing them on your social media, a dedicated email
Not sure how to measure this? Check the last section.
Finally and the most important aspect of your sponsorship, How do you help companies measure their ROI? This is one of the most important stages yet the most difficult thing to do, luckily there are some tools to ease your burden:
- Google analytics and URL providers: Create custom URLs which can be followed up to check the views, click-throughs and sign up rate.
- Industry data: Make use of the industry average for the number of attendees converted to customers.
- Checkmate Vivus: Use the Checkmate Vivus tool to monitor how the ad on your event page, tickets and social network provides value to your sponsor. It also helps you track estimated attendees, age group, gender and much more.