“What is so special about your company/product/brand that I or we should shell out costs to sponsor you?” That is the first and utmost logical question anyone would ask if you are approaching them for an event sponsorship. So better be prepared with a very good answer and presentation sheet to convince them.
Sponsorship for an event can be in the form of goods, services, food and beverage, print-out materials, banners, décor or even a venue in the ultimate case. Workout a list of what you think you would like to have sponsored to offset your event management costs. Make a wish list of items you feel you are able to persuade companies or individuals to sponsor you for. Pick a special niche in your event that you would like to highlight, giving you the edge over others who have or had approached your target sponsors before. The more special and unique your event, the higher the chance of confirmed sponsorship.
Sourcing for sponsors
Enrolling the services of an event management team can also help you with this; they do have a good contact list of sponsors that they are actively working with. Make sure you indicate this to them as a way of offsetting your cost. Make a target list of your potential sponsors, vary your list by people or companies you are already familiar with as well as direct cold call sponsors. The latter ones are the most difficult to deal with as it will be one big pitch meeting so have all your paperwork in order before meeting them.
An event solution to sourcing the right sponsors can require a touch of creativity such as planning out other opportunities where your sponsors are able to also meet their marketing requirements. This could include a great opportunity to rub shoulders with captains of industries, politicians or celebrities that would create brand recognition of its own for your sponsors or even how and where their brand of products can be distributed during your event. If they are a big sponsor then they would get the lion’s share of the prime distributing rights at your event.
Making a wish list
A wish list of the companies or individuals you would like to approach should include the items or services you would like them to sponsor you for. Try to get your event sponsored as much as possible so you can save on your expenditures. A wish list is part of the event planning stage and should incorporate the services of an event management solution team. Workout an event management system as to who does what in securing the sponsorship.
Making up your wish list should include the following:
- Information about your target sponsors , what you want them to provide, how much is the estimated cost
- A plan of who should approach your target sponsors
- What they will benefit in return for sponsoring your event and how it will help them to gain publicity (Have a good presentation plan for this) – ensure that the sponsors services and products are complimentary to yours
Have your sponsor’s interest at heart
Plan your event along your sponsors interest as it is a form of corporate branding that can have a win-win situation for both parties. It is a good point if you ask them how you can help with their needs as well; they would then be more likely to listen to your pitch! This may entail a form of advertisement in banners or rather where your sponsors can place their advertisement so be imaginative and creative and your sponsors will love you for that.
Therefore do keep in mind that you would also have to market your event as a really special event that is going to be an eye-opener, sometimes it does not matter to over sell your own potential after all that is what holding an event is also all about – creating hype in the market segment! Seek out event Malaysia companies who can help you to plan and source out your required sponsors. They normally have their own list of well known sponsors who are always on the lookout to sponsor in return for brand advertisement and a shot at the limelight. Alternatively, you could go about it the harder way to source out your own from the internet or yellow pages, it is all just a matter of personal preference!