While organizing any event for whatsoever purpose, the first question that comes into mind is how will you be able to fund the said event or how will you get sponsorship for your event. It would depend on the financial position of the Event planner and the size of the event. Except in the case of self-financing, the event has to be sponsored.
Why Would You Need A Sponsor?
Sponsors typically are for funding your event, but they are not limited to that. The following can also be the reasons for you to sponsor your event :
1. Branding The Event
Branding the event would influence people to come to the event. Due to the tag of already established players of the market being connected to the event. By the involvement of the brands, the reputation of the event will increase, resulting in the engagement of people.
2. Marketing Through Social Media Influencers
Influencers have the power to bring the spotlight to your event. Marketing through social media influencers will attract the public; local celebs shall also do the work for you. Followers or no, the event being somehow attached with an influencing personality always makes an impact.
3. Expanding The Event
Expanding the event may come into consideration for which accountability of different things was not done before when the event was planned, and for such expansion, sponsors can come handy.
How To Get Sponsorship For Your Event
1. Ideal Sponsors For Your Event
The first step is to know what sponsors are appropriate for your event, as approaching brands that would have no interest in the event as it doesn’t suit their business model will waste your resources.
The way to get sponsorship for your event is to shortlist the relevant eligible brands you’d approach considering the type of event. Keep in mind the timing of the event as the sponsors may have a particular time to sponsor the events.
It may happen that the type of sponsors you’re trying to find may be going through a rough patch due to the economy. Because of which they won’t be able to sponsor or find companies or brands who are expanding the business horizons so that they are keen to advertise their products or services through different appropriate channels.
Start researching for suitable sponsors way before the event is scheduled. It would give you proper time for planning and finding the sponsor as it takes time to analyze the backer. Give preference to your personal contacts first and if that does not pan out as you wanted it to be, then move forward with others.
So planning the event and organizing it at a time when the companies are eagerly sponsoring the events will help you to get more sponsors and the event can be successful.
2. Draft A Powerful Proposal
Creating a thorough proposal that has to be given to the companies whom you’re going to visit with for the event needs following things included so that it makes an impact on the company
- What is the event all about, the key reason for the event.
- The basics like date, time, venue of the event you’re planning to organize
- The age, gender of the people who will attend the event and even the profession if appropriate.
- Out of all things, the most important thing for them would be; how will they be benefited from giving you funds. Explain the event model to them on how they would recover there investments.
For example if you are organizing any sports event, you can have a sports equipment seller as your sponsor and give analyzed data of such event hosted by you in the past and the customers attracted due to it.
- Use data and graphs of past events you’ve organized, explain to them why it would be profitable to them using as much data as possible as data. Numbers are really essential for pitching your plans as to why it would be beneficial to them.
- The social media coverage you’re planning to do for the event, details of any influencer or celebrity you want to hire for the promotion or welcoming them as a guest.
- Attach the data of events done by you in the previous years and also the homage of prior sponsors.
3. Approach To The Appropriate Authority
You need to know whom to contact; in some companies the sponsorship decisions are made by its specific department or the marketing department.
Contact them through email or a formal letter or arrange a meeting with them to discuss the event and show them the proposal.
Don’t lose temper due to any reason whatsoever because that may inevitably affect your reputation in the market.
Make them feel that the event is more beneficial to them than they are investing so that they give a keen interest in the event and will cooperate more with you.
You should be ready to face rejections from them too because not everyone will be invested in your idea or the plan of the event.
The event shall have a budget that not every company may be able to sponsor fully, so you and the company need to come at a middle ground.
Now for that, you can have multiple offers or slabs for the different type of promotion you’re ready to do according to the selected slab rates.
For example, if the cost of your event is ₹ x you can approach multiple sponsors to fund you part of the whole amount, the different options for their promotions may include:
- The logo of their brand on all your events Posters and Brochures.
- Printed logo on the event’s tickets and website.
- A special stall should be placed on the event centre giving information about the services or products provided by the sponsors.
- Merch provided to the event attendees with the sponsors’ logo on it.
- VIP tickets available for the sponsors.
- Take the companies name in every ad campaign.
- Special table reserved for the top level of the sponsors only.
These are some of the perks you’d provide them according to the amount sponsored by them which will be negotiated by both parties, you should not be rigid for your proposal as it may vary from each business and events.
5. Deliver A Bit More Than Promised
After the deal gets sealed, you should provide everything promised from your end and maybe a little bit more. It doesn’t have to be extravagant but giving a little more than promised makes it a promising deal and you win the sponsors. This adds their trust towards you brand or company and they can foresee future deals and associations with you.
6. Post Event Reporting
Keep your sponsors updated about the event statistics. Reporting back to the sponsors is essential as that would improve the relationship and create a long term association with them. It is also necessary to follow up so that if you need future sponsors, they can help you again in the future.
This is how you get sponsorship for your event and make it a star one.