No matter what your event is having sponsors that can help to cut down costs will go a long way in making sure your event is successful and profit margin as high as possible. The task of getting sponsors is definitely not an easy one. You will need time, a lot of effort and the skills to sell sponsorship. Below are some tips that will help in getting sponsors for your event.
#1. Research
Take out time to research on prospective companies that you think might be interested in sponsoring your event or ones that are known for sponsoring similar events. Look for local businesses with a history of sponsorship, and try to find companies that are a good match for your business or your event’s theme for instance, if your event is athletic in nature, consider Nike, Adidas, or any sports-related organizations in your community as possibilities. Usually potential sponsors are companies that are doing a lot of local advertising.
#2. Create sponsorship packages
Once you have identified a few potential sponsors you can now create your sponsorship package. A sponsorship package must always start out with a brief executive summary, or mission statement about the event or venture you hope to have sponsored. It should say why you are looking for sponsorships and how the business will benefit from giving sponsorship. It should also include a detailed budget of your event. Also, remember to create different levels of sponsorship that potential sponsors may commit to and explain what you are asking for at each level and why you need sponsors for each level.
Be sure to personalize each package. Companies will appreciate it more when they notice that you took time to research about their company before sending in the request.
#3. Sending out packages
It may sound very tempting to send out as much sponsorship letters as possible but this is not the best idea as it can be ineffective. Your list needs to be a list of actual potential sponsors, meaning people or companies that you think will actually consider your sponsorship request. Include companies that have been sponsors for you in the past, companies that have sponsored other ideas similar to yours and people or companies that you have a personal connection with the event would be able to be a sponsor.
#4. Follow-up
After sending out your request, you need to be patient and wait for the potential sponsor to give you feedback. If this doesn’t happen after a few days, call and ask if they have received your request. Make sure they know where to reach you when they make a decision. Your calls will vary with the type and size of the organisations or individuals you contact. You’ll probably speak directly to owners at small local businesses but larger companies have individuals given this task, most times in the marketing department.
On the other hand, this can be time-consuming as some potential sponsors will request to have a face to face meeting.
#5. Thank you
You don’t want to give the sponsors the impression that all you needed from them is their money. You need to show them that you value them too. If your sponsors attend your event make sure they are taken care of and given special treatment. During the event, it is crucial that you publicly appreciate and recognize them. After the event, meet with the sponsors to review the event fulfillment. This is the first step towards renewing the sponsorship for next year (if your event happens annually). Be sure to send them formal thank-you letters or cards.
Getting sponsors for your event takes time so it is always best to start searching early. Also, remember to always give sponsors enough value for their support
Thanks for reading this article, we hope it helped.