Sponsorship is a $ 70 billion industry and if you are running podcasts writing books or hosting Corporate events and trade shows, you need to understand how it works! and how to find sponsorship for your event success.
When hosting an event, the first question that often comes to mind is how are you going to fund it? Unless your company is already well established and you have a large marketing budget, you will need to get help to finance your event. Even well-funded events require sponsors to help produce more revenue, so the logical answer is to find sponsors.
event sponsorships play the main part in event revenue – a recent study shows that 65% of event managers rely on sponsorship as a significant source of income – it is important that you promote yourself and your event to the right sponsors Give the best chance to draw. And it is also important that you have the right systems to deliver value to your sponsors.
Finding sponsors is like trying to hire for a job. You will submit tons of offers and will be rejected or no response at all. Don’t worry about that, there are strategies that you can implement to help attract more sponsors to your event!
How to Find Sponsorship For your event
If you are planning to host an event, you are also facing a big question: how will you fund it? Established companies may be able to dive into a generous marketing budget – but smaller companies require some help. A Great Financing Option? Look for sponsors.
Finding a sponsor, however, can be like trying to hire for a job. Some of your offers will be rejected or receive no response. Fortunately, there are some strategies that you can use to make your event a more attractive sponsorship opportunity.
Does your event need a sponsor?
For many events, sponsorship is the key to successful marketing. In addition to raising funds, opportunities may open for one or more event sponsors:
- Build brand awareness
- Boost sales
- Improve brand image
All in all, there is much to be gained from this type of strategic partnership. But not every event requires a sponsorship to succeed. You do not need it to get the benefits you have listed yet (although it really helps overall).
So how do you know that your event really should be held by them? Here’s how to tell:
- Your event is very Huge and/or high profile, with famous celebrity speakers or guests. Media sponsorship assured that your event will get adequate coverage.
- Your event goals require expensive or additional budget items that are not responsible for the funds already allocated. If your goal is to expand your brand image in the tech industry, then having special extras like a smart event badge or mobile app will help you stand out as an industry leader.
- You have to bulk up your customer base. Influencers such as industry bloggers, local celebs, or top executives have audiences whose interests may overlap with your event. Bringing them in as your sponsors inevitably shift to that audience base and help strengthen your brand image in the eyes of this new market.
- You need help obtaining information about any major planning components such as venue, transportation, or catering. Hotels, transport companies, and even local restaurants can contribute their goods and services to events that either cannot afford it or are not capable of the option that works for them.
- Your event is new or your brand needs to build credibility for your industry. Getting sponsorship from established companies in your field is the best type of testimonial. It shows that they support what you are doing that really influences people to register.
Apparently, there are a lot of reasons why big and small sponsors are needed. And, contrary to popular belief, making a search is not really difficult or difficult. In fact, all it takes is a little research and an understanding of what the sponsors are for your unique event.
SELL SOLUTIONS AND NOT SPONSORSHIPS
Friends, it’s time to go beyond “logos and signage”. It goes without saying that logo and signage are very important pieces of the overall sponsorship package, but, if you are upset by this then you are in trouble! In 2019, sponsors can have their logo seen by hundreds, if not thousands of customers every month, they can get their interns to design a decent social attention plan. They do not need their logo on their brand or “to further their reach” signage.
It is time to change how you engage with potential sponsors and make them part of your success plan. Begin by explaining what you are offering “How do you see your salespeople getting entangled with the attendees at the event?”
Or, What would it Look like if you could produce your own sponsors?” Listen with an open ear and build sponsorship around your likely Teammate. Even if you can’t manage everything they ask for, if you can incorporate one or two of their ideas, you’ll win a partner.
Of course, you need time to implement this strategy. If your event is in April, you don’t want to wait until January to get involved with sponsors. Okay, you can, but unless you have a very strong re-signature rate between your current sponsors and exhibitors, your results will be the best. Most budget decisions are made in April of the previous year in India.
Some sponsors do not even care about networking opportunities because sponsorship is a benefit.
If you are working with the sponsor of your dreams and they are in the industry for over 40 years, then every major city has market penetration, and basically any area you are selling has a “name”, which will require them to sponsor your event. This is what you need to find out.
This is why you should do your research and develop a relationship with your sponsors. Find out what they want, then offer it to them as a partnership.
Stay focused and find the right sponsorship for your event
What you do with your quality time also decides the quality of your event sponsors. “A few minutes on Linkedin, Facebook or Google won’t help you find the right sponsor for your event,” Weil says. “It takes driven concentration, focusing on the intention of finding whether someone makes a great sponsor.”
Your work item: Block an hour (or two) to focus on this task. Be sure to turn off distractions like social media and email. This practice will ensure that you do not just find the right sponsor – it is a more productive use of your time. Studies show that people who focus on avoiding multitasking have increased productivity and engagement.
The continuous focus will help you learn more about each potential sponsor, something that will help you reach the decision-maker.
Who buys sponsorship?
The process of identifying sponsors for your event (called prospecting) begins by listing companies that can sponsor your event. But once you are ready to contact, whom should you talk to? Who is the decision-maker?
“Finding the person who makes the sponsorship decision can be a lot like reading the book in the dark,” Weil says. “Their professional titles will vary wildly from company to company. But I come across some common people which is a good start for my customers. “
People who buy sponsorship often have titles such as:
- brand manager
- Business development officer
- Marketing officer
- Product Placement Officer
- Sponsors officer
- Communications and PR Officer
Know your prop
“Event sponsors want to know one thing: Is it Profitable for them?” “Don’t waste the time of a potential sponsor until you get to know their business and understand how your event will help them grow.”
What do sponsors want? Weil can sum it up into 5 words, “anything that improves their business.” Use your knowledge to discover people who love your brand and products or services. After listing potential sponsors, have an open discussion with your team about each segment of your audience and how valuable they are to each sponsor.
Listen First to Your sponsorships
When contacting your potential sponsor for the first time, make sure that your conversation targets the goals of the sponsor right in the beginning.
Ask them what they want and what their sponsorship goals are. Paint a picture of success for them.
You want to try to catch that person’s ear immediately and tell them that you are not trying to sell them an empty sponsorship that has no value after the event, but a real way to achieve their goals. is.
The goal here is to find out what your sponsor wants. Just. The goal of this meeting or call is not to tell them about your audience, or poetic poetry about your terrible activities. Your job is to be Sherlock and find out what your sponsor’s goals are.
Highlight ROI to your sponsors
it’s important. Your conference or event may be the best place to be, you can have top-level speakers and expect more than 2,000 decision-makers in attendance, but if you are not clear on the return on investment for your sponsor You have lost them.
Today there is too much competition for sponsorship dollars to believe that those reasons alone are enough to get your sponsors to sign a $ 25,000 check. When interpreting ROI for your event, talk more about the value you received in terms of what you had in the previous conversation.
End the discussion by explaining the ongoing value of sponsorship (and make sure there are some).
Partnership, not Sponsorship
I know we are going to talk about sponsors but the people we should talk about our partners.
There are no sponsors now. There are businesses that are looking for partners who can help them solve a problem, meet a requirement or level up. Think of sponsors like dates. You can go out for an evening and have a good time but, that does not mean there will be another date.
Partners are with you from year to year, project after project, event after event. They are growing with your organization and offering expertise and advice that you would not normally get. They are investing well in your company as it also benefits them.
A partner will support your events with enthusiasm. This is the superstar of the sponsors and this is the relationship you want to develop.
Will every sponsor be a partner? Probably not, but if you consider every potential lead as a potential partner then you will end up with a few loyal sponsors and your job will become easier every year until your event eventually sells itself.
Sell Real value, Not what Needs Funding
Nobody wants to fund your party. Think about it, have you ever paid all the expenses for someone to throw a birthday or anniversary party? You went out with high-end snacks, open bars, bands or DJs, plus lighting, floral photography, etc … It’s not something you do lightly nor is it something that you For people you only see once a year. However, entertainment programs are generally the highlight of many sponsorship offerings.
Instead of highlighting the party itself, the party offers benefits such as the opportunity to redesign a new product or brand or be deployed as a subject matter expert (SME) in a particular area.
Highlight business-building opportunities at your event to facilitate business among the cosponsors. These are the ROIs you want to sell, not the party.
Instead of offering your sponsorship to each sponsor, which is usually an entertainment event, research sponsors who have supported similar events at other conferences ask them what their goal is in sponsoring this type of event And then customize entertainment sponsorship to include activities that help you sponsor achieve their goals Huh.
Sell based On Value Not on Price
If It was possible to remove the prices from all sponsorship brochures. I would envision a beautifully designed brochure, featuring all the best activities professionally and organized by interest. Sponsors flip through this awesome book and hold off on things that get their attention that will spark a conversation about how you can do something similar with them.
This brings us to the sponsorship valuation piece, which deserves its own position.
Knowing what your sponsorship opportunities are is a difficult business. It is not for the faint of heart, but it is worth doing, and it is essential to begin Chris Bialis’ journey at The Sponsorship Collective for more information about sponsorship pricing.
Focus on the possibility of building your business, not the need to sell at any sponsorship level. And, most importantly, focus on what you can offer that no one else can?
Getting a sponsor for your events is important.
Follow the above guidelines to attract your ideal sponsor for your event.
Want more information about sponsors for an event?
How do you get sponsors for an event?
Start early and be open-minded. Identify both your goals specifically for the event and the incentives and benefits for the potential sponsor. Lean on data points about the event audience to create a compelling case to a potential sponsor whose target audience aligns well with your appearances. Focus on the sponsorship, not the price of an event, in your pitch.
What companies do sponsorship?
The top 10 sponsors for local non-profit events around the United States are Wells Fargo, Marriott, Dick’s Sporting Goods, Whole Foods, State Farm, Pepsi, US Bank, Bank of America, Budweiser and Cliff Bar.
What do event sponsors want?
At a high level, event sponsors want their brand to be associated with an event – either because the event is for a good cause the sponsor wants to publicly support, or because the event is organized by a business That can promote the sponsor’s brand in some way. Event sponsorship can generate leads for a company, produce valuable content for content marketing, develop business relationships, provide insights to the audience and improve public perception.
want more sponsorship guide like this:
- How to write an effective sponsor proposal
- 4 ways to increase your event sponsor ROI
- How to build meaningful relationships with event sponsors
- How Event Sponsors Will Get Your Love
- 4 Fresh Content Ideas for Your Sponsorship Offer