All About Getting a Good Sponsorship — A Guide
Have you got a great idea for your next business event? That’s superb! But running short of budget? Oh, but yet don’t worry! Sponsorship is the option.
A sponsor can either provide cash or sponsorship in kind like free music and catering service or venue. But, but, but, you need to offer them something in return.
Before we start with the getting and giving sponsorship etiquettes, let us first understand the reason why businesses give sponsorship for events.
Why do Business Sponsor Events?
Possibly, there could be two reasons behind event sponsorship –
- To get return for marketing value
- As a part of Corporate Social Responsibility (CSR)
- Mix of both the reasons (usually)
How is the ROI gauged?
The ROI could be measured taking into consideration several factors like audience engagement rate/ratio, number of registrations (if you plan to take), post event engagement ratio etc.
Finding the right sponsor the event — How?
Most event organizers usually struggle for getting sponsorship for events may be because they approach the wrong match or may be because they don’t know whom and how to approach the sponsor. Exactly! Getting sponsorship is all about getting the right match. You cannot just pick top brands and approach them — just because they have money doesn’t mean they’ll put it in your event. This is where sponsorship often goes wrong. So be careful.
One thing you should take a note of is no sponsor will give sponsor without any expectation — they all expect returns. The type of event you are organize and the kind of audience who will attend the event may not fit into the criteria of the sponsors — they might not be interested in such event.
How to Get Sponsors for an Event?
You need to understand that as an event host/organizer/owner you should spot the right sponsor for your event. And it only comes with thorough research. You can read magazines and websites to know the kind of events business are doing, how are they attracting right sponsor, how is their marketing strategies helping them etc.
Through this research you will also get to know the type of companies that have sponsored events similar to yours. For instance, if it’s an event or seminar related to heath, the sponsors most likely be hospitals and health care units.
The next time you looking for sponsorship, make sure you read the above tips for getting event sponsorship once. Good Luck!
