Event Sponsorship allows you to utilize existing networking opportunities to help other groups get their name out in exchange for assistance – either monetarily or by helping provide goods or services.
Step 1: Understand the Relationship.
The secret to any good event is to always draw a crowd – bigger is always better. Larger audiences not only draw attention to your cause, but also make your event more marketable to outside funders. When planning an event, always ask yourself, “what do we have to offer others?” If the answer is, “a crowd of college students,” then you’re going to have a tough time. Think about what specific resources or services you can offer in order to draw in investors – and remember; be creative!
Step 2: Picking a Package.
All good businesses have one thing in common – options. Before reaching out to your community, be sure to work within your team, establishing different sponsorship packages and documenting them professionally. Think about what resources you can tap into, connections you may share, and what will entice potential sponsors to help fund your event.
- Know your event: who are you inviting, how many people are you expecting, what is your purpose?
- What resources do you have: what infrastructure do you have, how do you plan to advertise?
And Most Importantly
- How can you make sponsors team players rather than bankrollers?
- Tiered packages offer potential sponsors more freedom to make comfortable commitments.
- Encourage your team to be flexible and work to fit the needs of both parties.
- Look to offer different demographics different options – a university department may have different needs than a local business.
They’ll come for the crowd, but they’ll stay for your partnership.
Step 3: Sealing the Deal.
Once you have all the prep work completed, you will have done 90% of the work to secure a sponsor. The only remaining hurdle is meeting with your potential donors. Professionalism and preparation will be your keys to success, so whether you’re crafting an email, or meeting with a potential sponsor hold these traits paramount.
- Use existing connections, such as your academic advisor, to reach out to university-wide leaders.
- Examine events from groups that host philanthropic events such as fraternities and sororities, knowing who they partner with will show you what local businesses are the most generous.
You may not always receive an offer for monetary compensation – but rather goods or services. Remember that these too are valuable, and that anything you don’t have to pay for is money all its own.n.