Event sponsorship across the world has seen a steady increase over the last few years. According to a latest report by IEG, event sponsorships are set to increase from 60 billion in 2016 to more than 62.1 billion by the end of 2017. A staggering figure, isn’t it?
If you are looking for event sponsorship, now may be the best time to approach potential sponsors with your proposition. But hang on, in order to make that perfect proposal which ensures a positive response, you will need some expert tactics. Here are some tips you might want to consider:
List the USPs of your event
Before you start approaching potential sponsors, assess your event and everything it has to offer and come up with a list of reasons that make it special – the Unique Selling Points or USPs. The question you are answering here is: ‘what’s in it for the sponsors?’. Also find out if you need to plan certain aspects of your event keeping sponsors in mind. This exercise will help you understand your offerings better and create that winning sponsorship proposal.
Find the best-suited prospects for event USPs
It is important to understand that your event will not be an appealing proposition to every company or individual. Carry out thorough research to evaluate top potential sponsors whose objectives align with your offerings. Find out which specific industries, demographics and verticals have historically been receptive to sponsorship offerings similar to yours.
Craft a concise but tailored proposal
Don’t create a ‘one proposal to rule them all’… this isn’t Mordor. In fact, keep your proposal brief and tailor it to the types of audiences you intend to approach. Your proposal has to be the complete package which answers all potential questions – what, why, where, when, and how – about the sponsorship opportunity, but it also has to be company / industry-specific so that the potential sponsors find every word in your proposal highly relevant to their sponsorship objectives.
Be flexible with your offerings
Event sponsorship is never a one-way street. Don’t just look at what your event has to offer in terms of sponsorship; when pitching to potential sponsors, understand what they want to achieve with their sponsorship and be flexible in incorporating their requirements in your plans. Event sponsorship is a relationship that goes a long way when both parties involved are flexible and working towards a clear objective.
Talk numbers to increase tangibility
A perfect sponsorship proposal will present clear facts which help potential sponsors understand what’s involved and what to expect. Talk about ROI and benefits in numbers – number of attendees / headcount, profile of attendees, media and press coverage, online and social media coverage, ATL coverage pre-, during, and post-event and other relevant stats. These are all tangible metrics and must be included in your pitch to add the right impact.