Event sponsorships are a crucial part to the success of any event, but it also seems to be one of the hardest components to secure. How do you find the right sponsors for your event? Instead of blindly searching for anyone who could help financially or be a potential partner, the key is to find companies that are already aligned with your business or organization’s event. By honing in on companies that are in alignment with your event’s purpose or your brand, the process becomes more focused and is guaranteed to produce a fruitful sponsorship.

• Highlight Your Assets

Sponsorship is all part of a marketing strategy. It is clearly understood that sponsors  want something in exchange for their financial assistance. That could be something as small as free VIP tickets to the event for them and a few friends, or an agreement to display their brand’s name throughout the event and beyond. Share what you can offer the sponsors that is beneficial to their business or campaign. What you offer should reflect the amount of money you are asking for. In any case, you need to identify special incentives that set you apart from your competitors. 

• Identify Your Event Goals

Before you can start searching for the right companies to sponsor your event, you have to make sure you’ve thought out your event’s purpose and goals. Challenge yourself to identify what the overall vision of the event is. What goals are you trying to achieve with this event? What is the purpose and valued message you want to share? Companies want to support events that express a shared goal or value. By taking the time to have all these questions well thought out, you will be able to focus your search and find companies that will definitely be interested in sponsoring your specific event.

• Sponsorship Package Levels

When proposing to your potential sponsors, avoid asking for just one ideal lump sum of money. Providing sponsors with multiple tiers of contribution options and what sort of perks they’ll receive at each tier, is a great way to open up your pool of sponsors. Let’s say you need $15,000 for your event. A tiered sponsor package could look like this: 

$15,000 – the sponsor’s logo will be displayed on all promotional items, hype of the sponsor’s company and/or product during the main presentation, and 10 VIP tickets to the event

$10,000 – Promotion of the sponsor’s company and/or product during the main presentation, and 10 VIP tickets to the event

$5,000 – 10 VIP tickets to the event

• Have the Data Ready

Companies interested in sponsoring events will usually ask for the data behind your event or past events. They want to better understand the impact of their sponsorship and the supported evidence that their money will be used in a productive way. Provide up to date data visuals that outline anticipated attendance, attendance numbers of past events, social media engagement, and so on. Keep in mind that raw data is more important to sponsors than incalculable measurements like attendee testimonials. Providing valuable data to sponsors is absolutely essential when it comes to securing their partnership. 

• Butter Up the Sponsor

The ball is in the sponsor’s court when you ask for their financial assistance, so it’s time to butter them up! If you feel comfortable to do so, you can ask the sponsor directly what they want in return for their help. This way, you can provide a customized package suitable for the sponsor’s specific needs. Learn what it is the sponsor wants and try your best to fulfill the request. However, at the same time, don’t be afraid to put your negotiating skills to the test and make sure you are getting what you need as well.

Securing sponsorships can be stressful, but don’t let that distract you from your mission. Your goal is to produce an unforgettable event and sponsorships will help you get there! If you need more tips and tricks to securing event sponsorships or you’re ready to create the event of a lifetime, contact Wizard Studios today!