8 Steps for Securing Discounts and Sponsors for Events

Events offer a wealth of benefits for brands and sponsors alike. Hence, the huge amount of event sponsorship requests companies receive.

If you are new to the industry, then you may be feeling overwhelmed by the challenge of getting the attention of companies interested in sponsoring events when you are up against many others doing the same thing.

Ultimately, it comes down to knowing your brand and seeking out the best potential sponsors that will benefit from aligning themselves with your brand. How do you do that exactly? It only takes eight steps.

1. Don’t Wait Until It’s Too Late

The saying “The early bird gets the worm” is also true when it comes to finding event sponsors. You absolutely cannot procrastinate when it comes to event sponsorships. Plan to give yourself at least three months before your event to find sponsors.

2. Create a Budget

Before you approach potential sponsors, you need to know what you are up against. In other words, you must know your event budget. By creating a detailed budget, you will be able to identify which items are priorities for the event and which ones can be cut if necessary.

As you work on defining the budget, you should go ahead and highlight which items you will cover. When it comes time to approach potential sponsors, it will be helpful to show that you are also investing in the event.

3. Know What You Want

Of course, everyone wants cash from their sponsors. However, you may look over your budget and decide that you want sponsors who can provide discounts, services or exchanges instead. The more creative you can be when it comes to event sponsorships, the better.

4. Seek Out the Right Sponsors

The most successful sponsorships are those that are well aligned with the event. Rather than just looking for any companies that sponsor events, you should look for the brands that you most want to be aligned with. Think about your audience and the sponsor’s audience – they should overlap.

Additionally, consider which sponsors would most like to be aligned with your brand. Why? By establishing a meaningful connection, you and the sponsor will build a mutually beneficial relationship. Most companies understand the value of building relationships with brands.

5. Do Your Homework

Just like you would research a company before a job interview, you should research the company you hope will sponsor your event. Ask around and do your homework. Look the company up online and find out everything you can including whether they have sponsored similar events and who to contact.

6. Customize Event Sponsorship Proposals

Whatever you do – do not copy/paste event sponsorship pitches! Instead, you should customize everything from the initial emails to the event sponsorship packages.

7. Start Pitching

Now that you have identified the sponsors you seek, and you have customized event sponsorship proposals, it is time to start emailing. Keep your emails short and to the point.

Remember to email the individual most likely to give the final “yes” or “no” so you don’t just get the runaround. Finally, don’t forget to follow up after your initial pitch.

8. Keep Your Word

A last word of importance – keep your word. Don’t promise benefits that you can’t deliver. Communicate with the sponsor before, during, and after the event. Your integrity will go far in establishing a long-lasting relationship with the sponsor.