What do sponsors want? If you’re asking yourself this question, you’re already in the right mindset to win sponsors. To secure a great sponsor who’s an ideal match for your mission, it’s vital to do your research first so that you can pitch the mutual benefits of the relationship. Don’t settle for a bland attempt to persuade a sponsor to help you out. Instead, communicate the value that’s in it for them so that they’re just as eager to join forces as you are.
Like many creators, you might have moved your events online to navigate the COVID-19 restrictions. Fortunately, there are great sponsorship opportunities for virtual events. In addition to our guidance here, check out our tips on how to keep sponsors happy during your virtual transition.
Luckily, you don’t have to be a mind reader to unravel your dream sponsor’s major motivations. Discover five of the main reasons that a brand will choose you for event sponsorship to help you entice that fantastic possible sponsor to leap on board with your next event.
1. Build their brand awareness
Brands will often sponsor your event so they can get in front of their target consumer. The incentive here is to increase brand awareness among your event’s audience, so that your attendees are more likely to recognise that brand. This is especially important to brands who are relatively new to the market and want to introduce your event attendees to their product or service. Sponsoring large events to build brand familiarity can be cost-prohibitive for cash-strapped start-up brands, causing them to seek partnerships with more affordable sponsorship fees – this could be your event!
Even if your event is on the smaller side, don’t be too quick to dismiss your possible appeal to bigger brands. An established brand may also be interested in sponsoring your event in an effort to reach a new target audience. The value that you have to offer could come in the form of access to your attendees or mentions on your socials, broadening their brand exposure. You could also approach established brands that share your niche but aren’t direct competitors – they might be keen to partner up to put their brand name in front of an audience that shares common interests.
2. Boost their product sales
For some sponsors, promoting their brand might be appealing but not enough to get them to collaborate. For them to sponsor your event, they’ll want to put their product or service in the hands of their customers – like offering them a free sample on the day or a discount code they can use at their store.
Winning these sponsors depends heavily on your ability to fulfil an agreement around the particulars of your event. For example, if you’re scouring for sponsors for your music festivals, food or beverage brands might be keen sponsors, but they’ll quickly reconsider sponsorship opportunities that prohibit them from selling or distributing food or drink to your attendees. It’s not difficult to imagine that a pitch for beer sponsorship for an event is likely to evaporate if the brand can’t pour its product for attendees. Ask your venue to see if supply of food or drink (or other products or services, depending on your sponsor’s business) is permitted before you sign a contract.
3. Reposition their brand
Unlike other many forms of marketing and advertising, your event can help alter the public perception of a brand in an incredibly impactful way. During your initial meetings to present the sponsorship opportunities for your event, ask your prospective sponsor about their goals and challenges. As you listen to their responses, you might discover a unique opportunity for them to paint their brand in a different light and reach their target customer from a new angle. This could also be a strategic time to explore brand activations that add to the attendee’s experience of your event, promoting a strong connection from their brand to your customer.
4. Block the competition
Do you understand your potential sponsor’s competition? If you do, you’ll be able to tailor your presentation of the event sponsorship benefits to highlight the opportunity for them to stand out from competitors. Let’s say, for example, your sponsor’s rival runs national television ads and has billboards in every major city. Your event represents a unique opportunity to get their product in the hands of their target customer and can potentially help them earn market share.
Looking at your list of potential sponsors, consider their competition and find out if they’re sponsoring an event like yours. If a brand exists in a hyper-competitive market, as many do, they’ll be listening carefully to your sponsorship presentation for an event if you can allow them to see it as a chance to reach their customer in a way that their competitor isn’t. There’s sure to be some creative event sponsorship ideas that you can suggest to help them stand out!
5. Promote social responsibility
The last, but not the least, motivating factor for brands seeking event sponsorship is about more than just making a buck. Instead, they’ll want to sponsor your event simply because it will align their brand to a cause or mission their customers are passionate about. For many brands, this is one of the main reasons they are eager to sponsor (the right) events – to demonstrate that they care about their customers and the broader community.
Ready to craft the perfect proposal?
Sponsorship is a partnership that unites your event and your sponsor/s. It’s a two-way street that requires you to display a sincere interest in the sponsor’s objectives and an ongoing desire to help them achieve their goals. Develop a strong understanding of a potential sponsor’s needs, objectives, and motivations, and you’ll be better equipped to apply your innovative mindset to win over sponsor.
