Sponsorship is hard to come by. Convincing a company to give you money, no matter how much is a hard ask – and for good reason!
Events are really expensive to run and carry a lot of financial risks. Securing sponsorship is often the only option for the success of an event, particularly one in the early stages of development and delivery.
To be successful with securing sponsorship:
- You need to ensure you target the right potential sponsors for your event. There’s no point approaching Coca-Cola to sponsor your locally sourced food function.
- Figure out what you’re prepared to give in return of sponsorship at a variety of levels. Would you give a VIP table to a sponsor who gave you t-shirts? You need to seriously consider their Return on Investment.
- What exposure can you give them? Don’t promise they’ll have a tangible increase in sales, but perhaps suggest that it would be an excellent opportunity to build the company profile and image. Work with them to grow and develop this in tandem with your event.
- Build a good relationship no matter the outcome. You may want to approach the same potential sponsor again once you know a little bit more about what events they’d be interested in some time in the future.
- Don’t just ask for money. Maybe they have easy access to and can sponsor the wine, napkins, or have access to really cool items you never thought about or can offer something in-kind.
There are so many aspects to this and no doubt I haven’t covered them all, but certainly a starter for ten! What do you think?