INTRODUCTION
It’s common for events to rely on sponsors to help with costs. The key to attracting sponsors is to create a valuable offer in return. Companies sponsor events for numerous reasons, including access to a specific audience, raising awareness of their brand in a particular market and boosting their corporate social responsibility (CSR).
Here are tips on how to attract corporate sponsors for your event:
DETERMINE WHAT YOUR EVENT OFFERS
First, you have to answer the question, “what’s in it for me?” Meaning, what does a company get in return for sponsoring your event? Brainstorm points like who will be attending and/or watching your event, what you are doing to make your event stand out from similar events and what are the distinguishing features of your event (e.g. who are keynote speakers).
Once you have determined your offerings, create a sponsorship flyer or packet that explains them. It’s common for different companies to varying levels of sponsorship budget, so be sure to provide at least 3-4 levels from which sponsors can choose. Examples of packages include Platinum, Gold, Silver and Bronze. Within these packages, make it apparent how the sponsorship will benefit the company. Offers to consider could be free yearly membership to your organization, logos on collateral, social media mentions, pre-event media articles and speaking opportunities during the event.
Now comes the pricing of your sponsorship packages. If you price your packages too high, sponsors will move on; too low and event organizers might lose money. Keep in mind your audience size. The larger or more relevant the audience is, the more you can charge. Another issue to consider is the market rate. What are similar types of events charging? If prices aren’t listed, try reaching out to the event organizer and ask to see their sponsorship information.
RESEARCH AND CONTACT PARTNERS
Now it’s time to research potential partners. Make sure sponsors’ missions align with your event and vice-versa. Ask yourself honestly, if you were in their shoes, would you spend the money to sponsor the event?
Once your list of potential sponsors is done, it’s time to find whom to contact. Make sure you are focusing on the decision-makers–for example, someone that handles corporate sponsorships, partnerships or maybe even the marketing department. In addition, talk to your staff or network to see if someone already has an “in” with the potential sponsor. Lastly, start a document (e.g. Excel spreadsheet) to track your efforts.
It’s likely you will have to send a cold email to a company. Get to the point: explain you’re familiar with the company, talk briefly about your event and its relevance to the company and then make the ask. Sometimes the ask is not for the sponsorship but for an intermediate step, like a follow-up meeting.
CONTINUE WITH OUTREACH AFTER THE EVENT
Now that your event is over, stay in close contact with the sponsors. One way to thank them is to send a personalized, hand-written note. You also should add them (with their permission) to your e-newsletter list.
Recognize your sponsors again in a recap of the event (e.g. through a newsletter or blog post). You also should consider reaching out to the sponsors to gather their feedback on the event. Finally, it’s never too early to make the ask for next year’s event.