Obtaining event sponsorship for any project can be a big challenge. Often, it takes time to build up a relationship with a partner and influence them that you are worth their investment. Frequent events can present some significant hindrances for a sponsorship activation manager. They require more comprehensive planning than single associations. What is the best way to construct a sponsorship program? Is it more efficient to lock a sponsor in for a whole run or should you try and keep the lineup as varied as possible? Keep reading for some tips and advice on creating successful sponsorship programs which promise to benefit all involved.
Build Strong Connections
It is very much important to protect sponsorship deals which span multiple events if you are planning to host a series of launches, shows, or activations. Some companies might not hear of partnering up for more than one event, but others will be willing to furnace an ongoing relationship if you give them a good enough reason.
Make a ‘Yes’ Inevitable
Don’t forget that it is your job to exhibit value and return. To seal a deal, you need to influence the sponsor that they’re set to make a profit several times bigger than the sum that you’re requesting. Also, it is worth remembering that sponsors can become fond of the prospect of a longer partnership by the promise of certain bonuses. Assistance with permits, approvals, and local permissions tends to get sponsors feeling generous.
Introduce the Audience
Make sure that, when you’re pitching the proposal, there are adequate facts and figures to back it up. This is particularly important when it comes to the target audience for your event. A good sponsorship activation manager is one who can tell a story with demographic data. There needs to be a target age, social status (average income), and gender if your product is skewed towards either one.
Understand Their Needs
Once you have landed that coveted ‘yes,’ you cannot disrespect the needs of your sponsor. The biggest question is how they will be renowned at each event. You’ve got to strike the right balance between exposure and integrity. Make sure that, where the sponsor is clearly featured, guests are receiving some kind of benefit while they’re being advertised at. Discuss, in advance, whether or not the sponsor will have naming rights. You must make it very precise and clear why an event (or multiple events) is the best way for them to reach a bigger audience.
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