This document provides an overview of event sponsorship as a marketing tool for event organizers. It defines event sponsorship as funding given by companies in exchange for visibility and brand awareness at an event. It discusses different types of sponsors including media, cash, in-kind, and promotional partners. The document also outlines steps for acquiring sponsors, including preparing a proposal, researching prospects, setting sponsorship levels, following up, and nurturing relationships. The goal is to help event organizers understand sponsorship and maximize its value for both sponsors and the event.
2. H O W D O E S A S P O N S O R S H I P
W O R K A S A M A R K E T I N G D R I V E R ?
TABLE OF CONTENTS
T Y P E S O F
S P O N S O R S
W H A T I S E V E N T
S P O N S O R S H I P ?
H O W D O Y O U A C Q U I R E
S P O N S O R S F O R Y O U R E V E N T ?
I N T R O D U C T I O N
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3. It might come as a surprise to some that the subject of sponsorships still
eludes event organizers or conference planners. It is, after all, not an easy feat
to find a company or corporation that is willing to sponsor anything that costs
money at your event these days, especially with today's challenging economic
situation.
INTRODUCTION
While there may be some truth to it, event organizers can easily overcome
these challenges by understanding the value of sponsorship programs for
both sponsors and conference planners, and maximizing relationships with
sponsors.
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4. WHAT IS EVENT SPONSORSHIP?
An event sponsorship can be defined as a critical source of funding for all
kinds of events where companies, nonprofits, and small businesses give a
certain amount of cash or incentives in exchange for both visibility and
brand awareness at an event.
Back in the day, a lot of event organizers
acquired sponsors to supply the necessary
funding to offer more exciting programs
and cover rising costs. It was, and still is, an
effective and powerful marketing tool to
increase and reinforce brand awareness
among targeted niche markets.
As event organizers, many of us have heard of event sponsorships, but till
today it remains a mystery to most. Let’s start off by getting on the same page
through defining what an event sponsorship really is.
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5. TYPES OF SPONSORS
having a banner or booth at your event
logo recognition in print materials and on websites
priority access such as VIP and exclusive interviews
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These include:
1. Media sponsors
For large scale and high-profile events that require plenty of publicity, media
sponsors will certainly be advantageous. They are, by definition, companies
that are able to provide financial aid in securing media coverage for your
event. For example, a media sponsor might pay for an advertisement at a local
paper or cover the cost of filming a TV commercial.
In some cases, they may also publicize your event through their
social media channels, write an article in a publication, or even publish a blog
post about your event and organization on their blog/website - all done in an
exchange for sponsorship benefits.
6. Similar to media sponsors, promotional
partners are people who are public
figures, bloggers or local celebrities who
have a lot of followers to help promote
your event to their own customer or fan
bases.
As the name suggests, cash or financial
sponsors are sponsors that literally give
money to an event organizer in
exchange for benefits outlined in a
sponsorship agreement, including logo
placements on signage or promotional
materials, pre-event content creation,
promotions and keynote speeches.
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2. Cash / Financial sponsors
Unlike cash or financial sponsors,
in-kind sponsors donate products or
services instead of offering cash. For
example, a hotel may offer the free use
of its facilities as a form of sponsorship.
In this regard, the hotel is not making a
cash contribution, but rather serving as
a location sponsor.
3. In-kind sponsors
4. Promotional partners
- Could you
promote my hotel? - Could you host
my VIP guests?
7. HOW DOES A SPONSORSHIP
WORK AS A MARKETING DRIVER?
• Events are fast becoming digitalized and interactive
In an effort to stay ahead of the curve, it is no wonder a majority of event
organizers are actively implementing digital marketing strategies to promote
their events. It is no longer just about planning great topic discussions, but
also about creating new memorable experiences for attendees, exhibitors and
sponsors. It should come as no surprise that there are dedicated mobile
applications developed and designed specifically for these events, where
people can focus on participant engagement and networking.
With the rise of mobile apps, event organizers may offer buy-ins to sponsors by
featuring them on event apps, providing them with high exposure
placements as a means to drive traffic to their businesses and/or brands. As
the industry moves away from pens and pads of paper to take notes,
attendees arm themselves with internet-connected devices such as tablets
and smartphones - which makes for a more interactive relationship with
audiences.
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8. These days, it is no longer enough to simply network at meetings or business
occasions. In a world where digital content and social media are fast
becoming preferred marketing and advertising platforms for businesses and
brands, having a presence at an event positions your sponsors’ businesses or
brands as prevailing voices in the relevant industries. This includes having
their logos featured on event collaterals such as programme booklets,
backdrops and the event website for brand recognition. In addition, it helps
them to focus on the attendees who have demonstrated their enthusiasm for
the industry. In fact, in many cases, interested attendees who are eager to find
out about sponsors go to them directly, rather than the opposite.
• Creates visibility for their business/brand
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BRAND
9. Before your initial approach to a potential sponsor, it is important to at least
have a sponsorship proposal written which highlights the anticipated
impressions that their sponsorship would yield. It should also cover the
marketing opportunities available at the event, potential sponsorship
opportunities and who your event audiences will be. Especially with large
corporations, they are far more interested in seeing the value in their monetary
support, more than how their money will help you with your event. While
you’re at it, be sure to tailor your proposal according to the type of sponsorship
package you are offering to your potential sponsor (refer to point 4).
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2. Conduct research on your prospects
It is certainly worth the effort to speculate what you can provide for your
sponsors as a way of helping them discern what’s in it for them. As an event
organizer, you would want to take time to learn as much as you can about the
organizations and companies you intend to pitch to. Knowing who your
prospects’ target audiences and key values are, understanding their corporate
identities and figuring out their goals in advance puts you in a much better
position in pitching a sponsorship opportunity that will surely interest them.
1. Prepare a sponsorship proposal
HOW DO YOU ACQUIRE
SPONSORS FOR YOUR EVENT?
10. 3. Set different sponsorship types
Among the many steps to selling sponsorships for your event, defining each
sponsorship level and the benefits included are the most important factors.
Having a wide range of sponsorship levels not only gives interested
corporations, companies and organizations more options to consider a
sponsorship programme that suits their marketing needs and budget, but
they also allow you as an event organizer to monitor the various sponsors and
their entitlements depending on their choice of sponsorship buy-ins.
Need some ideas for sponsorships? Check out 10 sponsorship ideas to use for
your next event.
Publicity in your online marketing or event website
Featured advertisements in newsletters and event collaterals
i.e. programme handouts, conference booklets, etc
Visibility in your event banner and décor
i.e. stage backdrop
Title sponsorship
Tickets to any VIP receptions at the event
Reserved tables for sponsors
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11. 4. Follow up with your prospects
Acquiring sponsors is very much like sales. While it is not always easy and fast
with your prospects, it is important to remember to always remain consistent
and maintain close contact, especially when you do not hear from your leads
right away. Follow up with calls, emails and even voice messages. Do these in
moderation, bearing in mind to always keep your options open as you
continue with your constant search of other potential leads.
5. Nourish your relationships
The way to cultivate your relationships with your sponsors is not by giving
them the impression that you only cared about their money. The first thing to
do after receiving their cheques is to send thank you letters to your
contributing sponsors. Be sure to remind them of their sponsorship benefits in
accordance to the sponsorship level they are buying in. It is also likely that
your sponsors will attend your event as they would want to make the most of
their sponsorship benefits, so make sure they are well taken care of.
Photos taken and videos shot during the event should be shared with your
sponsors once the event wraps up. Any other information that evidently
reflects the success of the event and impressions you estimated in your
proposal should also be included.
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Final Note
In summary, with new emerging platforms available that can help
expand sponsorship opportunities and produce credible marketing
results, you as an event organizer are better equipped to put together
a truly cohesive event that not just aligns with the goals you set out to
achieve but also allows your sponsors to get their money’s worth. Gone
are the days when event sponsorships seem like an unattainable goal
for many.
The key to succeeding at event sponsorships is more than having the
knowledge surrounding it. It is carefully taking into consideration the
needs of your sponsors and strategies you have in placed to obtain the
best results for your event.