How to Request Corporate Sponsorship for Your Event

How to Determine the Right Sponsors for Your Event

Finding the right sponsor for your event isn't always a walk in the park. The easiest way out is to analyze the following:

• Logical fit – your preferred sponsor should be a logical fit for your event. What's the nature of your event? What deliverables may complement it? For instance, a beverage company may be perfect for a music festival.
• Consider your industry and ensure it aligns with the sponsor. For instance, a technology brand is more likely to sponsor events related to innovation or entrepreneurship. 
• Does your audience match the sponsor's target market? This alignment creates a new potential target market and a higher chance of getting sponsored. 
• What contributions is the sponsor making to your event?
• Reputation and brand image – you want to associate your event with reputable brands that align with your event's values and message.

Tools to Locate Sponsors

Locating sponsors can be a real hairpuller, especially if you are starting from scratch. Fortunately, there are several tools to make locating sponsors breezy, including: 

• Social media – identify the ideal platform your target sponsor will likely use. For instance, LinkedIn is a professional networking site frequented by corporate sponsors, while Twitter and Instagram are popular for businesses. 

Identify potential sponsors by looking at brands with a similar audience to yours and actively engaging with their followers. Also, check for previous sponsorships, as it can be a sign they might be open to sponsoring your event. 

• Industry associations or trade groups representing brands in a particular industry can be a great resource.
• Online sponsorship marketplaces, such as SponsorPitch, Green Cactus, SponsorMyEvent, and SponEasy.
• Referrals, especially since over 80% of event hosts begin their buying process with a referral. Reach out to your network for brands for potential sponsors. 

How to Get Sponsors for an Event

Landing your perfect sponsor for your event doesn't have to be a tall order. 

Adopt these five foolproof strategies:

• Polish Your Proposal

Your proposal is your unique selling point. Ensure it's well-crafted, concise, and attractive by observing a few steps:

• Introduce yourself and your brand. Be brief but clear and concise.
• Clearly explain the opportunity you are presenting to the potential sponsor.
• Explain your target audience and how the sponsor's involvement will benefit them.
• Create different sponsorship levels and explain the benefits of each. 
• Explain the value proposition of sponsoring your event.
• A clear call to action, inviting the sponsor to take the next step. 
• Leverage data and statistics.
• Use appealing visuals to make the proposal more appealing and interesting. Use high-quality videos and photos, especially to highlight your past events. 
• Proofread and edit your proposal for clarity and professionalism.

• Tantalize Your Offer

Besides the ROI, how else can you sweeten the deal to convince the sponsor to partner with you?

Throw in free booths, customized banners, displays, and gear. Offer brand and social mentions, great deals and discounts on the sponsor's deliverables, and minimum-risk solutions. Show the sponsor that you mean business. 

• Understand the Potential Sponsor in and Out

The last thing you want is to pitch to a potential sponsor you know little about.

Research them extensively to understand their business, goals, and target audience. This will enable you to tailor your proposal to align with your needs.

• Data Is King; Wield It Wisely

 Using data to back your proposal is a wise, broad, and solid approach. 

Provide statistics, Social media stats, testimonials, potential revenue from promotions, and case studies demonstrating the value of sponsoring your event. 

Most importantly, demonstrate to them the value your attendees pose as a potential new market. 

• Time Is Always Money; Respect That

Your potential sponsor is busy with a million other engagements. It matters how long your pitch is, how, and when you pitch. Respect your potential sponsor's time. 

Begin by sending out your proposal early to give adequate notice and the potential sponsors adequate time and space to go through them. Ensure the proposals and any other communications are concise, clear, and straight to the point. Be prompt with appointments and follow-ups on inquiries or requests for additional information.

• Personalization Is Key

Don't be generic with your pitches and proposals. Instead, tailor each to the potential sponsor. 

Adopt their branding and messaging in your proposal, and offer customized benefits that align with their goals and objectives.

Promote the Sponsor Before and After the Event

Part of ensuring the sponsor maximizes value from your event is promoting them before and after the event.

The several ways to achieve this include:

• Social media shares and mentions
• Content and email marketing by sending out emails to attendees and potential attendees, highlighting the sponsor (and their deliverables) and their involvement in the event.
• Incorporate and display the sponsor's logo and branding into all event marketing materials, including event signage, flyers, posters, and banners.
• Personalized thank you notes after the event.
• Collect testimonials from attendees and participants about the sponsor's products and services, and share them on social media and other marketing channels. 

How to Measure Event Sponsorship ROI

Both parties invest in the event and expect to get returns. Unfortunately, an Eventbrite survey established that determining event ROI is among the greatest challenges for 40% of event hosts. 

To get it right:

1. Define your sponsor's goals.
2. Define and track metrics, such as sales, number of attendees, social media engagement, web traffic, and lead generation.
3. Collect loads of data, including surveying the attendees, for data analysis.
4. Prepare a fulfillment report and share it with your sponsor. 

This report indicates how you've fulfilled the sponsorship agreement. It typically shows details, such as event sales, sponsor promotion, sponsor's logo placement and visibility, social mentions and posts, the event ROI, and any other benefits or obligations. It's a great way to show you delivered on your promises and expectations. 

While you can leverage event ROI calculators, you can use this formula:

[(Total Sales Revenue – Total Cost of the Event) ÷ Total Cost of Event] X 100 = Event ROI

Ideally, you want an ROI of 2:1, 3:1, or 4:1. 

Remember, delivering a positive ROI and ensuring the sponsor gets maximum value from your events buil

Help Your Sponsors Gain Value From Your Event

The challenge of requesting corporate sponsorship for your event shouldn't hold you back from hosting a successful event. The right approach and a clear value proposition can help you create a successful sponsorship partnership that benefits both parties. 

To ensure the sponsor maximizes their value from your event, Displays2go can create custom displays and signage to showcase their products and services. 

Contact us to learn more about how we can be part of your event to help promote your sponsor and help your event become a hit.