09 Mar How To Get Sponsors For Your Events
Organizing an elaborated event can be financially challenging as it requires a lot of spending. Therefore, the need to acquire one or more sponsors for your events can be overemphasize. However, getting a quality sponsor can be a daunting task because hundreds of event planners are equally on the same mission.
It is now left for you to play your cards well by sponsors why you should be their pick. To help you out in this mission, we have come up with some of the best innovative ways to acquire sponsors for your event amidst intense competition. They are discussed below:
1. Flaunt your assets to convince sponsors
Sponsorship is a marketing strategy deployed by companies and business owners to promote and increase their fame and profitability.
It is an investment, not a charity program. Hence, all sponsors look for an event organizer who has what it takes to earn them a great fortune. What do you have to offer? What do you intend to give your audience to convince them into becoming your sponsor’s long-term customers?
Some of the assets you should possess as an event organizer searching for sponsors include the following:
- The ability to display sponsor’s products and logos on your event flyers and other promotional gears.
- Giving room for sponsors’ speech during events.
- Mentioning your sponsor’s product on your website as a means of helping it get a high lead.
- Effective mailing and newsletter services.
- Giving event-related freebies or discounts to guests who buy the sponsor’s product.
- Encouraging your online followers to “like” or share sponsor’s contents.
In a nutshell, the chances of attracting sponsors for your event are mostly determined by the unique, promising, and rewarding packages you offer to your sponsors.
2. Let Your Impressive Data Speak For You
The world believes so much in numbers. Hence, impressive data or stats have a significant role to play in convincing your potential sponsors.
Many companies or sponsors are interested in seeing your past achievements to decide if they stand a great chance of recording a great return on their investment (ROI).
Having done the oral show of confidence and brilliance, you should back up your claim with convincing stats from your past similar events. Some essential stats or data your sponsors are looking for include the following:
- The present number of active community members
- The number of active and engaging followers do you have across all social media platforms.
- The country with the highest number of guests during past events.
- How much you generate from every promotion.
- Your visit-to-purchase conversation rate.
- Number of Potential audiences reached both offline and online.
- Number of event registrants and eventual check-ins.
According to EventMB, 77% of sponsors are interested in seeing your past events’ analytical dashboard before considering your proposal. Now you see why you shouldn’t joke with that aspect of your event-hosting career— right?
3. Deploy A “Little Risk, little gain” Approach
Knowing that sponsoring an event hosted by a relatively small company is a risk, only a few sponsors want to invest big in your event. This is why you should move swiftly to allay sponsors’ fear and lack of trust in your company by engaging in ‘risk free’ mode.
Instead of asking for full payment of all required fees needed for an event, you should demand a fraction of the money while you render any of the listed assets in return.
Let’s say, for instance, organizing an event would cost $100k, you can demand $50k from your first-time or potential sponsor, ensuring that they enjoy most of the benefits mentioned above.
This approach is more or less like a “trial” deal to show sponsors they have nothing to lose doing business with you. It also means you are looking for more than a sponsor.
However, this method is advisable if you are interested in having a long-term partnership with the said sponsors.
4. Get Your Timing Perfectly
Timing is another crucial factor determining if you would get a sponsor or not. What time and season do you intend to organize your event— is it summer, winter, festive period, or ordinary day?
You should equally consider the best time to approach your potential sponsors for business discussions in the same vein. It is believed that May, June, and September are the best months to submit a proposal to any company because they tend to sell more during those months.
As much as sponsors’ choice and convenience primarily determine the timing, you should ensure that your event comes up when the audience is readily available to attend parties and shows.
5. Detect all Information About Your Potential Sponsors Before Approaching Them
There is some important information you should know about your potential sponsors before approaching them with your proposal. Do your research and discover the following details about your potential sponsors:
- The last time it sponsored an event
- What are the sponsor’s net worth and current assets.
- Is the sponsor’s business thriving enough to shoulder all the necessary expenses.
- What’s the latest product launched by the potential sponsor.
Getting the information above shouldn’t be any problem; all you need do is follow their official social media accounts and blog posts. Meanwhile other ways to get the right sponsors for your events include the following:
- Establishing a cordial business relationship with well-known companies in your niche or industry for better publicity. Your chances of attracting wealthy sponsors will improve once the event features the name of a popular and thriving company.
- Using digital tools or software— including SponsorMyEvent, OpenSponsorship, SponsorPark, and Sponeasy — to search for sponsors.
- Learning from other event organizers
- Engage the audience in a quick survey to know which sponsors they would love to purchase their products after the event.