The process of crafting event sponsorship proposals and securing event sponsorships is complicated, but the hard work pays off. Ultimately, you need event sponsors to help bring revenue, and sponsors need you to help them reach a bigger audience. Therefore, it is a partnership that is worthwhile.
But, how exactly do you go about finding companies that sponsor events? Without any background knowledge or experience in event planning, finding event sponsors can feel like a giant guessing game. However, those in the event planning business will tell you that it comes down to strategy.
If you follow the following ten steps, you will find sponsors that are ready and willing to sponsor your event.
1. Begin with Your Brand, Vision, and Goals
Before you begin the search for companies that sponsor events, you must have a clear vision. You should never approach a potential sponsor without being able to explain your vision and goals. Additionally, by defining your vision, you will know what types of sponsors are most associated with your event.
2. Understand What Companies Want
Next, you must understand what companies are looking for when they agree to sponsor events. Generally, they do not simply want to see their logo on materials. Instead, they are willing to sponsor events because they expect some return on investment. What RIO will sponsoring your event bring?
3. Know What You Expect from Sponsors
In addition to knowing what sponsors expect, you should also think about what you expect from your sponsors. For instance, some companies may be willing to sponsor your event, but they may not meet your sponsorship criteria. It is better to take time to find event sponsors that will be strong partners than just accepting the first companies who seek event sponsorship packages.
4. Do Your Homework
Do not go in blind. Instead, spend time researching potential sponsors. Start by looking up similar events and seeing which companies sponsored the events. Companies that have previously sponsored events are more willing to sponsor other events.
5. Work Smarter, Not Harder
With the array of event planning software, there is no reason for you to work harder than you need to find companies interested in sponsoring events. For instance, ExpoIQ is a platform specifically designed to help conference event planners find sponsors.
6. Look for Companies That are Prepared for Sponsorship
Unfortunately, just because a company is willing to sponsor an event does not mean they are able to financially. Be wise and make sure the companies you approach do have a budget for sponsorship.
7. Go Straight to the Top
Rather than going up the ladder, contact the big boss from the beginning. Ultimately, the person who pays the money and signs the contract is going to be higher up the ranks. Instead of wasting time getting pushed from one person to the next, do your homework and find out who you should go to for real answers.
8. Present the Data
Use event software and analytics programs to help you show potential sponsors all the data they need to convince them event sponsorship is worth it. Explain what the data suggests about the amount of influence their sponsorship holds.
9. Network and Learn from Peers
With the myriad of events happening on a regular basis, you have tons of learning and networking opportunities. For instance, those who are not your direct competitors will be open to helping point you in the right direction when it comes to creating event sponsorship packages and suggesting potential sponsors for your unique event.
10. Don’t Forget Why You Need Sponsors in the First Place
Finally, don’t lose focus when it comes to planning the event. Yes, sponsors are necessary. If you lose sight of the purpose of bringing on sponsors (to create a memorable event for your audience), then you’ve wasted everyone’s time and money. However, if you throw an amazing event, your audience and your sponsors will be happy and excited to participate in your next event.