A sponsor is someone that provides financial support to a business or an organization and the act of supporting an organization or an event is known as sponsoring. Once you have got an event online, you have to shift your focus towards building a network. Even in this modern age, everything costs money, and to fulfil those costs, you need sponsors. It is the job of the sponsors to provide financial aid and therefore, it is up to you to convince them how to do it, with the help of a few tips from us!
What is Sponsorship in Event Management?
An event that is financially supported by another company or corporation is known as a sponsored event and the entire process of it is known as event sponsorship. Virtual event platforms help corporations to host brilliant events. Which, in turn, helps to drive more customers towards your brand. An important part of a great virtual event is choosing and securing the right sponsors. That is because sponsorship is a way of enlisting other corporations within your organization and giving your brand a higher level of exposure. The first step in securing a sponsor for your virtual event is to attract the right ones.
How to Get Sponsors for an Event?
Getting sponsorship is a very important tool in terms of marketing. Not only does it raise funds for the brand, but it also raises brand awareness, increases the number of sales made by the company and improves brand image. The importance of choosing the right sponsors for your event is key to attaining your future goals. The reputation of the sponsors and their perspective on your event and brand are to be taken into consideration. You should target sponsors that understand how sponsorship works and whether or not their audience matches your brand image.
The following are ways in which you can attract sponsors:
1. Writing a Proposal for an Event Sponsor
Writing a proposal to an event sponsor is just as critical as sending your cv to your prospective place of work. The proposal has to be unique and should let the sponsors know that choosing you would be beneficial to both of you. A great proposal should include the story behind your company, which will form an emotional connection between them and your brand. It should be very informative; it should describe exactly what you plan to accomplish and should hold the interest of the sponsors. Lastly, it should include your idea of the perfect target audience, based on your brand and services. Being very specific about your expectations from the sponsors and being straightforward overall will attract the right sponsors for your brand.
2. Offering Sponsors Incentives
Like with everything else in the world, sponsorship is a two-way street as well. Sponsors want perks for helping you out and you have to do your part accordingly. Offering them a free booth in exhibitions, inculcate the name of the sponsors onto your website and promotional material, and mention them in your blogs as well. Moreover, provide them with gift packages and offer their customers a special discount. Lastly, posting about your sponsors on your social media pages and having them do the same, will increase traffic for both of your brands. Your sponsors need to be sure that you are serious about hosting successful events and only then will they invest, both their time and their money.
3. Know the Activities of Your Sponsors
Research is an important aspect of business strategy, so, you should know what your potential sponsors do. Read up on any of their upcoming events and their affiliation with other corporations. Make it a point to attend their events and make your presence known, that will show them that you respect their work and expect the same. Moreover, following their blogs will give you a much better idea of the ongoings of their company and will give you an insight into their workings. At the same time, your dedication and resourcefulness will impress them.
4. Use Data Analytics
Nothing attracts professionals more than perfectly compiled data. So, gather all your information regarding your gross revenue from promotions, the number of event attendees, the number of registrations for events, your visit-to-purchase rate, and your social media engagement levels. This data, collected and assembled perfectly, will give your sponsors a very definite idea of where you and your company stand. It will make your sponsors more comfortable about giving you their resources and will guarantee to match your company with the perfect sponsors.
Event sponsors want to be associated with brands that are either popular already or have the potential to be great. It is your job to show them how you stand out from the rest of the crowd, how your event is unique and will guarantee benefits for them as well as for you. In turn, event sponsorships will create a bigger clientele base for your company, provide insight into the audience, develop business relationships outside of your company and improve the general perception of your brand in the eyes of the public. These are some of the most innovative ways to get sponsors for virtual events.
Author | Zoha Junaid