How to obtain adequate sponsorship for your event

Obtaining funding and corporate sponsorship can be a very challenging task. Here are some tips to make the process easier. Define the type of sponsorship according to the event Before you begin looking for sponsors, you have to define the type of sponsorship your event require. Identify a list with all the details of what types of companies that you are interested in to contact for the sponsorship, as well as those to exclude according to the event and target. Some key issues that should be addressed are: defining the purpose of the sponsorship (marketing, fundraising, establishing long term partnerships,3); the benefits that will be provided for each level of sponsorship (advertising on site, pre-event promotions, during and after the event,3); policy for payment and deadlines for submission of materials such as company logo and other requested materials; how the sponsorship funds will be used, and what are the monetary goals for sponsorship, etc. Define your target While your marketing plan should be targeting people that may be interested in your event, your sponsorship strategy should focus on obtaining sponsors who wish to communicate with your target market. Keep in mind that the company itself probably sells many different products with a target area far greater than the one you are providing, so if you can offer niche marketing to the marketing department for a specific brand, it will be very attractive for them. Define potential sponsors Before you contact potential sponsors, do some research. Read business magazines, websites, annual reports, statistics, etc. It is good to know what are the company’s current marketing objectives, the new products they’ve just released, who their competitors are, what their current sponsorship policy is, and if they’ve ever sponsored an event similar to yours. Many companies have a very well defined sponsorship policy, so make sure it fits with your event objectives and benefits. Another option is to contact your potential sponsor either by phone or in person to obtain more information and to establish a personal relationship with the company before presenting a sponsorship request. Learn to “sell” your event Set different levels of sponsorship to capture sponsors with different budgets. Here are two possible options, among many others: the most common approach to sponsorship includes “gold,” “silver,” and “bronze” or a similar classification, with gold receiving the maximum benefits offered. Another approach may be to offer two completely separate packages of relatively equal price (one might be a marketing package while the other may focus participation & involvement in the event,3), so that sponsoring companies get equal benefits in the same category. When sponsoring an event, companies want to reach their target and get the highest visibility among their audience. In the same way, the companies you select for your event are an important part of the image of your event. The key is to choose the most adequate sponsorship so that both event and sponsors reach their own goals.