When it comes to organising an event, one of the biggest factors to take into consideration is how much everything is going to cost. If you can’t cover everything yourself, then it’s time to start looking for some sponsorship.
A good sponsor can play a key part in making your event a booming success, whether that’s by backing you with cold hard cash, providing you with useful services or even just offering your event some extra credibility.
There are so many potential benefits to be had from a successful partnership, so you won’t be surprised to hear that finding and managing the right sponsor can be a tricky task. Event sponsorship requires a two-way commitment: what can you offer a sponsor in return? Here are some fundamental points that you should consider before you go on the hunt to find a sponsor for your event.
Why do you want an event sponsor?
As an organiser, you consider what you want to achieve from your event before you begin the planning process. This allows you to shape your plans in line with your goals. Well, when it comes to your search for sponsorship, you should adopt the same thinking process.
Implementing a successful partnership is about more than bringing in more financial backing - you should share similar beliefs and objectives. Your prospective backer should have some relevance to the event that you are planning and, by teaming up with another highly-regarded outfit, you’ll see improvements in brand awareness and be able to connect with a wider audience.
What are the different kinds of sponsorship?
Once you are clear about the kind of organisations that might be the best fit for your event, you need to decide what it is that you would like from them. If straight-up financial backing is what you want, you should calculate the amount that you are looking for before speaking to any potential sponsors.
It’s important not to forget that sponsorship doesn’t have to come in the form of cash, and there are many other forms of sponsorship that can help to make your event cheaper and more popular with attendees.
Will your event require products and services to be bought in from suppliers, for example? Perhaps you would like to project a video onto a big screen for attendees to view, but can’t afford to foot the bill? This is where ‘in-kind’ sponsorship comes in. You could approach a technology company and ask them to provide this screen in return for event sponsorship. It’s a good result for all parties; you have saved money on getting what you need and the other company benefits from exposure in front of all of your guests.
Keeping your sponsors happy
As we have already mentioned; any form of sponsorship is a two-way agreement and requires commitment from both parties involved. Event sponsors will agree what they want in return for their backing, and you should be able to deliver on this.
Because of this, you should make sure that you invest in a thorough and fair sponsorship agreement which details the expectations of each organisation. Once this has been signed, everybody should have a clear understanding of what they need to deliver and this should help to avoid any awkward scenarios.
When the agreement has been signed and the sponsor has committed themselves to you, the hard work doesn’t stop. Make sure that you stay in touch with them regularly and keep them updated with any news - good or bad. Clear communication is the key to a successful partnership.
Ask for feedback
So, your event is over, and hopefully, everything went to plan! This is the perfect time to arrange a meet-up with your sponsors and evaluate what went well or what could be improved. Were there things that they asked for but didn’t receive?
An honest de-brief after the event can show your partners that you are eager to please them and to improve things for next time. You never know - they might want to increase their sponsorship presence the following year!
If you’re in the process of planning an event or exhibition, Winter Gardens can help with all aspects from venue hire to catering and entertainment. Call 01253 625252 today to speak to a member of our dedicated booking team.