It’s no secret that event sponsorships can elevate your events, offset costs, and bring additional value to your attendees. But securing and managing sponsorships effectively requires extensive planning and strategic outreach.
In this blog post, I’ll share actionable strategies to find, pitch, and retain event sponsors. Grab your notepad because we’re about to dive into some essential tips!
What You Need to Know About Event Sponsorships
Event sponsorships require time and commitment but offer substantial benefits. When done right, sponsorships not only provide financial support but also create strategic partnerships that enhance your event's credibility, reach, and impact.
Why Event Sponsorships Matter to You
Sponsorships are more than just funding; they are partnerships that can move your business forward. Sponsors enhance your event’s visibility, digital presence, and add social proof, making your event more appealing to potential attendees.
Why Event Sponsorships Matter to Sponsors
Companies sponsor events to achieve their own goals. If your event aligns with their target audience, it becomes a win-win situation, providing value for both parties.
The Triple Impact of Event Sponsorships
Sponsors bring three key value additions to your event — what I like to call the "triple impact." Let’s explore them!
Impact 1: Credibility
Sponsors lend credibility and social proof to your event, encouraging higher attendance and ticket sales.
Impact 2: Budget
Sponsors provide financial backing, which reduces your reliance on ticket sales and allows you to allocate resources more effectively.
Impact 3: Exposure
Sponsors share your event with their networks, boosting visibility and attracting a larger audience.
How to Find Event Sponsors
If you’re new to event sponsorship, it can be challenging to know where to start. Here are four steps to help you find sponsors that align with your event goals:
Step 1: Identify the Right Partners
Look for potential sponsors who target the same audience and offer products or services that complement your event and provide value to your attendees.
Step 2: Express your Events Value
Map out your event goals and determine what makes your event unique. This will help you create a compelling value proposition for potential sponsors.
Step 3: Build your Wishlist
Create a list of potential sponsors. Then, conduct thorough research to make sure they are truly aligned with your goals.
Step 4: Send the Perfect Pitch
Start with established relationships or network connections. While cold sponsorship outreach can be challenging, it's not impossible. Utilize online resources like SponsorPitch and Sponseasy to find potential sponsors, but always prioritize reaching out to those with whom you have existing rapport.
Creating Compelling Event Sponsorship Packages
To attract the right sponsors, you need to create sponsorship packages that cater to different budgets and goals. Here’s how:
Offer Tiers
Develop multiple sponsorship tiers, each with a distinct set of benefits. Higher tiers should provide greater exposure and engagement opportunities. For example, a basic tier might include logo placement and social media mentions, while a premium tier could offer everything in the basic tier plus exclusive branding rights and sponsor exhibits.
A La Carte Options
These are ideal for sponsors with smaller budgets or as add on option for sponsors who want to enhance their presence beyond a tiered package. Examples include sponsoring meals, logo placement on lanyards, or sponsoring specific sessions.
Create Scarcity with Limited Spots
Creating urgency and scarcity can drive interest and prompt quicker commitments from sponsors. By offering a limited number of each sponsorship type, you create a sense of exclusivity, encouraging sponsors to act fast to secure their preferred package.
Ensure Package Clarity
Clarity is crucial in all sponsorship offerings. Ensure potential sponsors understand exactly what they’ll receive for their investment. Clearly outline the benefits and deliverables for each tier and a la carte option, leaving nothing open to interpretation.
This transparency will build trust and make it easier for sponsors to see the value in their investment.
Crafting an Effective Event Sponsorship Prospectus
Your sponsorship prospectus is where the magic happens. It documents all the details of the sponsorship opportunities and should be visually appealing to attract sponsors. Include these elements:
Branded Visuals
Design your prospectus to match your event’s brand. A visually enticing proposal can make a huge difference in securing sponsorships.
Clear Delivery
Make sure potential sponsors understand exactly what they’ll receive for their investment. Be transparent about the benefits and deliverables.
Strong Value Proposition
Highlighting a strong value proposition is essential. Emphasize how your event aligns with the sponsor's goals and how your attendees match their target audience. Emphasize how your event aligns with the sponsor’s goals and how your attendees match their target audience. This ensures sponsors see the direct benefits of partnering with you.
What to Include in Your Event Sponsorship Prospectus
Your prospectus serves as a reference document that sponsors can use to understand your event better and share internally. Here’s a page-by-page breakdown:
So, what should be included in your event sponsorship prospectus? I’m sharing it with you, page-by-page, below!
The Cover
Your cover sets the tone for the entire prospectus. It should include your:
Event name
Logo
Branding
Event Overview
Your Event Overview provides a snapshot of what your event is about, including its goals and unique features. This helps sponsors understand the purpose and scope of your event.
About You and Your Company
This section introduces your organization and highlights your expertise and history, building credibility and trust with potential sponsors.
Social Proof
Credibility is crucial; showcase testimonials, past successes, and any notable partners or speakers. This reassures sponsors of your event’s reliability and impact.
Demographic Information
Sponsors must understand the attendees. Provide demographic and psychographic details, illustrating how your audience aligns with your target market.
Event Marketing
The Promotion section outlines your marketing strategy and reach, demonstrating how you plan to attract and engage attendees. Share your metrics (example below) to produce credibility.
Sponsorship Packages and Offerings
Present the various packages and opportunities for engagement. Highlight how sponsors can benefit at different levels of involvement.
Call To Action
Make it super simple for them to secure their sponsorship. Include a button that takes them to an order page to select their options, sign the agreement, and provide payment!
Pitching Potential Event Sponsors
When pitching to sponsors, preparation is key. Tailor your approach based on whether you’re reaching out to a cold lead or a warm connection.
Be Persistent and Consistent
Regardless of the situation, consistency in your outreach is essential. It often takes persistent follow-up to move sponsors across the finish line.
Contact Decision-Makers
Make sure you’re not wasting time talking to the wrong person. Ensure you’re speaking with the right person who has the authority to approve the sponsorship.
Make a Memorable Impact
For cold leads, consider using a short video email through platforms like Vidyard. This approach sets you apart, allowing potential sponsors to hear your passion and energy, making the outreach feel less cold. While video emails are highly effective for cold leads, they work just as well for warm ones.
Keep your Pitch Direct
Your initial outreach should be short and concise, with the goal of generating interest and displaying value. A long, unsolicited email is likely to end up in the trash, so keep it short, sweet, and to the point. Attach the beautiful prospectus you created to provide detailed information.
Follow Up
This also gives you a reason to follow up later, offering to answer questions or to discuss the best options for them, including creating a custom package that aligns with their marketing goals. Make them feel like you’re reaching out to them specifically and not just sending blind emails. Convey that as you were creating your event, you thought of them and their organization as a potential source of additional value for your attendees.
By personalizing your pitch and demonstrating how their involvement enhances your event, you can create a compelling case for their sponsorship.
Ready to Include Sponsorships in Your Next Event?
Event Sponsorships are a powerful way to expand your event and generate additional revenue. Grab my Free Guide to Event Sponsorship to determine if sponsorships is the right fit for you!
If sponsorships are right for you, check out our Event Sponsorship Unleashed Bundle to equip you with the knowledge and tools needed to secure your sponsors and enhance event experiences!
Be Bright Events also offers a La Carte service for Sponsorship Strategy and Package & Prospectus Design. If you’d like to learn more about working with us, schedule a free consultation today!
Happy sponsoring!
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