Planning an event without having to think about the sponsors will tend to make it fail. This is because most of the time, the quality of the sponsors that support a live event will determine the quality of the event itself. Thus, people will tend to attend only for events that have high quality sponsors, especially if it is not a free one. If you are charging people money for it, they will expect to get the best experience out of it.
Attracting high quality sponsors is critical and very important for the success of your next event. Here are 5 ways to attract high quality sponsors for your event:
1. Give the Benefits for the Brands
Many businesses have strict budgeting rules that they need to follow. In short, they won’t spend any money that doesn’t give them any return for their investment. On the other hands, businesses are constantly looking for ways to improve their brand popularity and visibility. So, you can use this opportunity to pitch them about the benefits of sponsoring your event for their brands.
If you can convince them that their brand name will become even more popular and visible on the market after sponsoring your event, they will be more willing to join. You can also let them know about the audience that will attend the event and how they can be their potential customers in the future.
2. Create an Engaging Proposal for Your Potential Business Partners
Without a good proposal, you won’t be able to convince your potential sponsors to even considering participating into your event because they wouldn’t see the practicality of it. If you just pitch them with ideas after ideas without giving them the proposal that will help them to get started, it won’t get you anywhere. Promising good things to your potential sponsors is a good thing in itself, but with a good proposal, that promise can easily be turned to reality.
So, the next step is to create a proposal that is good and convincing regarding how much they can invest on your event, what benefits that they get, the detailed spending that they need to have, and the end result of using your event as a good marketing plan.
3. Make Your Event a Small Risk Investment for Their Business
Most people won’t be willing to spend their money when they know that they get nothing out of it. Sponsoring an event is the same as investing in the eyes of your potential business partners. So, make sure that they can get a good thing out of their investment. In fact, you need to ensure that they get the best value for their investment.
You need to let them know that sponsoring your event won’t lead them to waste their money for nothing, but instead, they will get a lot of things back to their business. Make their investment a small risk investment so that they will be ready and willing to participate in the sponsorship.
4. Listen to What Your Potential Sponsors Want
Of course, you need to know what your potential business partners want out of their investment in your event participation. You need to know about what they expect, what they want to achieve with this decision, and what they want to do on the event itself. For instance, they might want to put their brand name on all event videos that you make, or they might want to do some giveaways for the attendees.
Attracting high quality sponsors is about idea exchange where you can give them your ideas and they can give them their ideas back. After all, you are doing it for the good of both parties. So, you need to be willing to listen.
5. Offer Good Incentives for their Sponsorship
It is a good idea for you to offer something that is interesting for your sponsors in exchange of their participation in your event. Offering good incentives for them will increase the chance to get high quality sponsors to participate into your event because they know that by participating in it, they get more than they give.
The incentives can be offered in various ways. You can offer to place the sponsor brand name in all promotional materials, mention the sponsor brand during the live event by the participating artists or musicians, allow them to do some promotional materials for their products during the event, and so on. This can be a good way to attract their interests in giving the sponsorship participation a try.