Event planners are waging a constant battle of pricing their corporate events. They need to keep events at a low enough cost so that it's affordable, but the event needs all the bells and whistles that will make it special. Something the attendees will love, talk about and want again as soon as possible.
Corporate sponsors are the perfect solution to this complicated problem. The exposure for sponsoring your event to the right audience can be the perfect match that's a win-win for everyone involved. Finding the perfect fit is the toughest part of the problem, especially for new events. Here is an easy guide to help you find the best sponsor for your next corporate event.
Start With Your Event Budget
Develop a budget for your event. How much will the venue cost, advertising, entertainment, food, etc. Once you figure out how much more money you need to raise, you can set up sponsorship levels for the businesses you approach. Find creative names for each level of sponsorship. Think of inventive names that are related to the event.
Plan the Event With Sponsors In Mind
The basic intention of sponsorship is to conjure up positive associations of the corporate brand in the mind of the consumer. This is done by naming events or by displaying corporate logos at events or venues and in the media that advertise the event. If possible, choose a venue with the sponsor’s needs in mind. You may even go a step further and plan the event with potential sponsors. Ask how you can accommodate their needs.
Identify Your Assets
Walk through the venue and identify all the potential places that a sponsor might advertise their brand name or logo. The potential for logo placement can be just about anything. Besides logo placement identify other opportunities for your sponsor to meet their marketing needs. These might be opportunities to meet celebrities, access to exclusive areas like backstage passes, or places where they can distribute product samples.
Collect Key Event Data
Above all else, event sponsors want to invest in corporate events that are likely to bring a return on their investment. Have data ready from previous events and for the current event you're organizing. Help prove to potential sponsors that your event is worth sponsoring.
Know Your Demographic
Take a moment to reflect on your mission and who your fan base is. Keep in mind the market you’re going to pursue and do plenty of research about it. If your market is women, be aware that they make or influence most purchasing decisions, and that they are starting businesses at a higher rate than men. Whether your niche is healthcare or tech, dive into understanding the routines and trends of your target market. Your comprehension of how your fans and key market behave is a huge help for the next step in strategizing.
Be Clear About Your Platform
Your demographic is the market you're after and you want to have statistics about that market at your fingertips. Find out the spending power and purchasing habits of your target market. Research their median income and education level.
Find The Right Partner
By having a clear idea of your audience, you will be able to start researching your potential sponsors. The ideal sponsor will be one that sees value in being exposed to your database and associates. In return, consider what new audiences your potential sponsor can bring to your event.
Approach The Right Person
The marketing department is the best place to start. Although in some companies it could be public relations, community affairs, public affairs, supplier diversity or brand management. Try to avoid filling out an online form, that's a screening device.
Don't Sell Yourself Short
Ask for $10,000 to $100,000 from each sponsor. It's not worth their time if you're asking for $1,000. Also, instead of asking for a commitment to a single event ask for a year-long commitment.
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