Sponsorship refers to the financing of an event by someone else, who will receive advertising or branding in return for their (usually cash) donation. Sponsors are more often than not businesses and organisations. Should an individual wish to sponsor a function or part thereof, they will receive some sort of personal reward.
Getting sponsorship for an event can be a really great way of raising awareness, not only about the specific function, but for the organisation as a whole. It is also an ideal opportunity to contact those in your network that you may rarely (or never) get the chance to speak to. Despite some people’s resistance to asking for funds, this should never be viewed as begging or expecting something for nothing. Rather, you need to see and believe in the value of their sponsorship for them as well as for you and your cause.
Follow these step-by-step instructions in order to approach potential sponsors easily and with confidence:
Step 1
Create a short document (no longer than one A4 page) that includes:
- Your company name
- Your personal position, if relevant
- The product(s) and / or service(s) your organisation offers
- The name and date of the event
- The purpose or aim of the function
- Exactly what sponsors will get out of their participation (i.e. what is in it for them?)
The purpose of this document is to convince potential sponsors that your event is the ideal opportunity for them to increase branding and awareness.
Step 2
Draw up a budget and decide on how much you will be able to afford and what you need from your sponsors. This budget should include absolutely everything, from cleaning equipment to décor and catering.
Step 3
Create a succinct sponsorship proposal that contains different sponsorship packages and explains the financial obligations of each. This proposal should also contain exactly how the sponsor will benefit. Generally, the more they sponsor, the greater their exposure at your function. Be specific, and consider images to illustrate the extent of the branding (for major sponsors, get a design company to put their logo onto certain items in the document to show them exactly what the sponsored clothing, flags, marquee etc… will look like with their branding all over it).
Step 4
Categorise the levels of sponsorship, so that sponsors can achieve a gold or platinum level, or opt for the bronze or silver levels, depending on how much they are willing to sponsor. This will give them an incentive to give more and will also make them feel more valuable to you.
Step 5
Add extra value to your sponsors’ agreed upon amount by mentioning them and their service / product in your press items. This will make them more likely to sponsor your next event as they are able to see the extra effort you made on their behalf.
Sometimes, for a particularly valuable sponsor, you may want to give them the opportunity to ask what they would like to receive in return. You do not have to oblige them, but they may appreciate your flexibility and understanding.
Do not be afraid to ask the sponsors that have agreed to participate if they know of other corporations who would like to do the same. This way, you will increase your network and sponsorship value.
Photo Courtesy of Imaging Resource
Guys, where do I propose for companies to sponsor my event