If you’re planning to host corporate events, crafting sponsorship strategies is necessary. Whether your company is big or small, sponsors can still help your events to become successful. However, finding the right sponsors can be difficult, and it requires effort, money, and strategy. Once you’ve found the right sponsors, they can provide various benefits, and help improve the overall success of your corporate events.
So, before you dive into finding the right sponsors for your events, you should prepare the right strategies. In this article, we’ll guide you on how to manage sponsorship strategies even without the help of corporate event planners.
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1. Define Clear Objectives
Before you start communicating with potential sponsors, you should define clear objectives. Understanding your needs beforehand can give you an idea of the ideal sponsors you should look for. Besides, your objectives should also align with the sponsors, so that you can both benefit from each other. Meanwhile, if your goals don’t match, you can either get a sponsorship rejection or tailor your event based on the requests of your sponsors.
One of the things you should identify before reaching out to sponsors is the type of sponsorship you need. Some of the most common forms of sponsorships include monetary, media, in-kind, and promotional.
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2. Choose the Right Sponsors
Once you’ve identified the objective of your event, the next step is to research companies that have hosted similar events as the ones you’re planning. Aside from contacting them, you can also reach out to the sponsors they’ve worked with.
Of course, you should also look for other companies that align with your goals, even those that haven’t partnered with other events yet. In addition, when identifying the right sponsors, you should consider their reputation, programme, and other projects.
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3. Offer Customisable Sponsorship Packages
It may take a while before you can complete a list of potential sponsors, so don’t let the opportunity slip away. Instead of preparing a one-size-fits-all approach, offer customised sponsorship packages. At the same time, identify the contact persons and directors of the companies you’re trying to work with and write a tailored letter.
Once they read that it’s addressed specifically for them, it can easily spark attention, and there’s a higher chance of getting the sponsorship you need. But before that, offering sponsorship packages is a must, especially since not all companies commit to a huge project.
4. Highlight Measurable Benefits
Another thing you should include in the sponsorship package is the list of measurable benefits. For instance, you may include the wide reach of their target audience, media exposure, and brand alignment.
Keep in mind that sponsors should also benefit from you. Besides, at the end of the day, both businesses should benefit from each other, especially since it’s not a charity event. So, if you would like to gain more sponsors, ensure that they have a clear list of measurable benefits.
5. Leverage Digital & Social Media
Social media is a powerful tool that can help corporate events gain sponsors. By including and acknowledging your sponsors from various social media platforms, you’re committed to the partnership, and able to encourage engagement from their target audience.
So, for every content you’re going to post online, ensure to tag or mention them. The more often you do this, the higher the chance that you can gain more attention and trust from your sponsors.
6. Foster Long-Term Partnerships
Corporate events aren’t just a one-time thing. So, if you don’t want to start from scratch again in terms of finding the right sponsors, fostering long-term relationships should be part of your plan. In doing so, you can offer other things more than just event-related. For instance, you can offer them VIP treatments in networking events, loyalty incentives, and content collaboration.
7. Deliver on Promises
Once a sponsor accepts the deal, you should ensure to deliver all your promises. If not, you can face a lot of problems, including a bad review, and you may never find your target sponsors again. As you know, businesses tend to be updated on the latest issues, so if one business isn’t on good terms with yours, it’s possible that you’re not on good terms with many of them.
8. Follow Up & Show Appreciation
Once the event is over, there are other things you should work on. Some of these include follow-ups, and showing appreciation to your sponsors. Besides, the event won’t be successful without them, so don’t forget to give them the credit they deserve.
Final Thoughts
Although it’s easy to hire corporate event planners to prepare for events, looking for sponsors should be one of the things you should be in charge of. Although they provide a list of possible sponsors, you should still decide on the strategy to win them over.
We hope this article helps you optimise your sponsorship strategy for your events. Let us know how your sponsor-hunting went by commenting below!
ABOUT THE AUTHOR
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.
Aliana Baraquio is a content writer for Pink Caviar Events Sydney, a full-service event management and decorative hire company located in Sydney. When she’s not typing out blog posts, you can find her watching anime series or baking cupcakes.