Putting on an event is expensive. But, there are ways to defray costs and add benefits to your organization and partners. Sponsorship allows you to work with key companies to fund the event. Really, sponsorships are mutually beneficial. What is the best way to go about creating sponsorship offers that will resonate with sponsors? If you don’t offer packages that provide clear benefits, you may not be able to find the sponsors you need. More than ever, when attracting sponsors, it’s important to emphasize their return on investment (ROI).
Where to Begin?
At the outset of your event, you created a purpose and identified the budget. Now, you know what you have to work with and the amount of money you need to reach the next level. What would be your dream amount to raise from selling sponsorships? What is your goal? You will need to offer your sponsors something, which will depend on what technology you’re using onsite.
What to Offer Sponsors
There are standard offerings and more creative ones. Companies can pay to sponsor a networking event or dinner. They can brand registration check-in or have signage located throughout the event.
- Banner Ads
- Lead Capture
- Space in the Mobile Event App
Identify Different Sponsorship Levels
Now that you know what you have to offer sponsors, you can begin to create sponsorship levels. Some companies will want to have their name front and center. Others will choose to sponsor but in a small way. By creating levels, you establish a clear sponsorship hierarchy. If a company wants to be the premier sponsor, they’ll know how much money they’ll have to give to be in that position. Limit the number of spots in every level so that the top remains elite.
Reach Out to Potential Sponsors and Work with Them
Your event has a key demographic. You know who you’re targeting based on the purpose. There are other companies that will support that purpose while not cannibalizing your business. Look for strong sponsors that align with your events and bring something new to the table.
How to Convince Companies to Become Sponsors
With clear metrics and an understanding of benefits versus cost, it will be easier to convince companies to become sponsors. It isn’t always easy to identify the numerical benefits of sponsorship, but it’s your job to try.
- Number of Attendees
- Social Media Reach
- Leads Captured
- Brand Awareness
- Direct Audience Engagement
- Survey Results
Sponsorship is About Brand Awareness and Direct Audience Engagement
There is a sliding scale when it comes to sponsorship. The benefit to sponsors largely comes down to brand awareness and direct audience engagement. There are benefits to both, though audience engagement is more tangible. It can be tracked by the number of leads captured and leads in the sales pipeline. Brand awareness, though more ambiguous, is just as important and can mean more business for companies in the long run. Understand what elements of your sponsorship packages tie into each one and try to have a balance.