Pitching Event Sponsors:
Now that you’ve made a list of potential event sponsors, it’s time to get them. It doesn’t matter whether your potential sponsor’s email or call. These three tips are still essential to your success:
1. Research your target audience
At this point (hopefully!) you’ve already researched your target audience. You know that the companies on your list fit the theme and vision of your event and that all companies have had sponsorships in the past. Now it’s time to dig deeper.
Before joining a company, try to find out:
• The main decision-maker, their personality type, and their contact details.
• The marketing objectives of each company involved.
• How sponsoring your opportunity can help them achieve their marketing goals.
• If they have the budget to sponsor your event the way you want.
The more information you have about each person you want to contact, the better.
2. Communicate the value:
In the last tip, we said you need to know how the company you’re contacting benefits from sponsoring your event. Knowing this will help you communicate value, and here’s what you need to do to form partnerships.
No organization will support your event for the sake of their heart. There must be an exchange of equal value and you must pass the value on to your point of sale. To do this, pay attention to the company you are communicating with, not your opportunity, and focus on the benefits.
When writing a sponsorship proposal for a virtual event, you want to emphasize your value proposition. Sponsors want to know what they mean.
Also include information such as the number of attendees you expect, audience demographics, brands that have sponsored your event in the past, ROI from past sponsors, and other pertinent information.
The kind of details you share will likely depend on your industry, how long your event will be offered, and whom you contact. But in general, do your best to convey value.
It is difficult to prove the value of life chances, but it is even more challenging. Define the values sponsors will see when working with your event and focus on the benefits of a virtual event. For example, the Open Data Science Conference AI Expo Virtual Sponsorship Brochure has a section dedicated to why a virtual exhibition is actually an even better investment for sponsors.
3. Add Social Proof
Social proof in the form of testimonials from past partners can go a long way in sponsoring a brand around your event. Just as we all read product reviews before buying online, potential sponsors will want to know if previous partners have had a great experience with your brand and if the sponsorship is worth the investment.
If you get the chance, consider doing full case studies with your lead sponsors. This is what TED did. His case study with longtime event partner Rolex is an excellent example of this. This helped the annual conference attract more sponsors, demonstrating the positive return on investment Rolex received from the partnership.
4. Best Practices for Creating Partnerships with Sponsors
The key to summarizing and collaborating with sponsors comes down to communication. When working with sponsors it is important to have a common language. It enables you to align the key business goals and outcomes that make both parties successful.
For example, Vasil Azarov of the Growth Marketing Conference focuses on building mutually beneficial partnerships and sponsorship programs. These include defining opportunities for additional exposure, collaborating on content such as webinars, involving a partner to sponsor direct email campaigns, and ballroom initiatives.
Fostering a collaborative environment also helps maintain good relationships with key sponsors about current and future opportunities.
Tips for the best package to sponsor the event
To promote your sponsorship efforts, you need to offer different sponsorship packages. As more opportunities become virtual and hybrid, these packages need to be even more impressive as it is harder for your potential sponsors to visualize your opportunity and the value it offers. Valuing sponsors, especially in the virtual field, is a challenge for event organizers. In fact, nearly 37% of organizers find it harder to provide sponsors with valuable opportunities when organizing virtual events.
Adele Durham recently joined the IN-PERSON podcast to share examples of how she creates valuable experiences and opportunities for sponsors.
Here are five tips to help you set up a sponsorship package that will alert your potential partners.
1. Add different levels of sponsorship for events
When compiling sponsorship packages for your event, you may want to consider creating multiple levels (minimum of three) of sponsorship, each with different benefits and prices.
The more money an organization pays, the more benefits it gets. You can also set up different packages for companies rather than individuals, offer discounts if you buy multiple tickets at the same time, and much more.
See how Gainsight offered sponsorship levels on Pulse for the 2020 product. This is an excellent example of how you can use the levels in the package above.
2. Create unique opportunities
There are many different ways to add value to your sponsorship packages. Some sponsorship ideas include guaranteed talk time for the CEO of a sponsoring company, which allows partners to place their business names in a revolutionary space, and a sponsorship logo on the weak pocket offered by each participant.
But to truly promote your packages and attract organizations to more expensive sponsorship opportunities, you need to create unique opportunities.
Here is an excellent example of how Adele Durham embraced her personal ideas and offered to share valuable experiences with her sponsors.
‘We had food carts at our awards ceremonies so you could buy toasted cheese and bags when you walked out of Cipriani. A gigantic blow. Ok, you can’t if it’s a virtual event. Now let’s take a look at Grubhub’s evidence distribution. Therefore, at the end of the event, all attendees will receive a $ 15 Grubhub coupon for their late-night snack.
3. Make it clear
Your sponsorship packages will only be sold if potential sponsors understand exactly what they will receive when they make the purchase. They also need to know how to qualify for each package. Clarity is definitely your friend here.
Describe each benefit, benefit, and requirement of the package in plain language. Potential sponsors should never guess what they are getting in exchange for a portion of the company’s budget. This is especially true if the sponsorship is being sold in large quantities.
This SaaStr example tells sponsors exactly what they can expect and how much it will cost. It also uses visual previews so sponsors don’t have to guess or think about what it’s going to be like.