How to Capture and Retain Interest of Sponsors for your Event

Usually when you are planning an event, you will look for sponsors. You need sponsors if you want to have adequate funding and ensure the event attracts crowds and media. That is why it is important to plan your strategies well in advance. Do this, and you will definitely succeed in attracting the right kind of sponsors.

Here are some tips that will help you make your event an attractive proposition to prospective sponsors:

# Define How Will Sponsors Benefit from Your Event

Before you begin pitching to sponsors, who usually are companies and businesses, you need to sit down and determine why companies should sponsor your event. List down benefits that they can get by sponsoring the event. Be sure to take into consideration your audience, as companies would like to know who the event is targeting. Once the idea is clear in your mind, it will be easier for you to use the right words and ideas to convince sponsors to invest.

# Research Companies

Based on the benefits, now is the time to begin searching for potential sponsors. For this, you will need to draw up a list of prospective companies, research their marketing goals and try and determine the challenges they are facing during marketing. Find out what kinds of events the company has sponsored previously. If necessary, invest in the company’s service or product to see how the company can fit into your event as a sponsor. This research and study will allow you to shortlist companies, whom you can approach with a full-fledged sponsoring pitch.

# Pitching to Prospective Sponsors

Be to-the-point and precise when making your pitch. Any sponsor would first like to know what the benefits of supporting or sponsoring your event are. Present an outline of the event and based on your previous research let the sponsor know how it could give them the publicity and media coverage. Also, highlight how sponsoring your event could be part of the company’s marketing endeavors.

Carry all the promotional materials of the event and present them to the sponsor. Furthermore, do not be shy to share your marketing strategy during the meeting. A sponsor would like to know how you will market the event and attract participants and visitors, and what steps you will be taking to highlight the sponsor during the pre-event publicity. If possible, try to link the company’s marketing campaign with your event – this can help make the proposition irresistible to the sponsor.

# Offer Value Added Benefits

To make your event attractive to a prospective sponsor, try offering certain benefits that go beyond just being a sponsor. For instance, you could offer discounted tickets (or even free tickets) to the event that the sponsor can distribute among its employees. Or, think about offering good quality t-shirts and/or caps with your event emblazoned on it to the company to distribute among its employees. These are attractive freebies that can tilt the balance in your favor.

# Offer an Exclusive Deal to the Sponsor

Rather than getting multiple sponsors and diluting their benefits, offer an exclusive sponsorship opportunity to the company. This usually works if the event is being organized on a large scale and you expect a lot of media coverage.

# Use Social Media to Entice Sponsors

Set up a Facebook page about the event and get fans. Once you have a sizable following, you can inform the prospective sponsor about the social media exposure they will get through your social media marketing endeavors. Highlight the benefits of how mentioning the sponsor’s name and logo can create brand awareness and create opportunities for customer engagement and acquiring new customers.

# Retaining Your Sponsor

While it may be tough to get a sponsor for an event, it is tougher to retain the sponsor. Hence, you should be looking to build a long-term relationship with the prospective sponsor rather than focusing on short-term gains. During the event, give special attention to the needs of your sponsor. And, once the event is over, sit down with your sponsor to get their feedback. Ask what they liked and take suggestions for improvement. Thank them for their support and offer an invitation to a future event.

Wrap up

If you can demonstrate to the sponsor that you genuinely care about mutual benefits, you can create trust and go in for the long haul. This way, every time you organize an event, you will not have to scout for fresh sponsors and do the tedious research before approaching them.

These are some simple yet effective tips to attract sponsors, but make sure you also put in an effort to retain them. The best way is fulfilling all the promises you made when making the pitch. So, work hard, not just for your event, but also for your sponsor.
Author-Bio:- Monik Makadiya works with iVvy, an innovative events management software provider. Ivvy offers a suite of event registration solutions and has helped event managers worldwide to streamlines process, improve efficiency, boost participation in events. To know more, connect with Monik on Twitter @painstakingMM.