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Tuesday / October 17.

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Types of Event Sponsors

Types of event sponsors

An event sponsorship can be defined as a critical source of funding for all kinds of events where companies, nonprofits, and small businesses give a certain amount of cash or incentives, in exchange for both visibility and brand awareness at an event.

As event organizers, many of us have heard of event sponsorships, but until today it remains a mystery to most. Let’s start off by getting on the same page through defining what an event sponsorship really is.

Back in the day, a lot of event organizers acquired sponsors to supply the necessary funding to offer more exciting programs and cover rising costs. It was, and still is, an effective and powerful marketing tool to increase and reinforce brand awareness among targeted niche markets.

Types of Sponsors

1. Media sponsors

For large-scale and high-profile events that require plenty of publicity, media sponsors will certainly be advantageous. They are, by definition, companies that are able to provide financial aid in securing media coverage for your event. For example, a media sponsor might pay for an advertisement in a local paper or cover the cost of filming a TV commercial. In some cases, they may also publicize your event through their social media channels, write an article in a publication, or even publish a blog post about your event and organization on their blog/website. This is all done in an exchange for sponsorship benefits.

These include:

  •         displaying a banner or booth at your event
  •         brand recognition in print materials and on websites
  •         priority access such as VIP and exclusive interviews

Similar to media sponsors, promotional partners are people who are public figures, bloggers or local celebrities who have a lot of followers to help promote your event to their own customer or fan bases.

2. Cash / Financial sponsors

As the name suggests, cash or financial sponsors, are sponsors who literally give money to an event organizer in exchange for the benefits outlined in a sponsorship agreement. This may include logo placement on signage or promotional materials, pre-event content creation, promotions and keynote speeches.

3. In-kind sponsors

Unlike cash or financial sponsors, in-kind sponsors donate products or services instead of offering cash. For example, a hotel may offer free use of its facilities as a form of sponsorship. In this regard, the hotel is not making a cash contribution, but rather serving as a location sponsor.

4. Promotional partners

Similar to media sponsors, promotional partners are people who are public figures, bloggers or local celebrities who have a lot of followers to help promote your event to their own customer or fan bases.

Conclusion

The key to succeeding at event sponsorships is more than having knowledge surrounding it. It is carefully taking into consideration the needs of your sponsors and strategies you have in place to obtain the best results for your event. Adjust your event planning strategy to cost-effectiveness – get started with GEVME for free.

Download your free copy and learn more about sponsorships: Event Sponsorship Guide. 

 

Latest comment

  • Event sponsorship is one of the most important factors of event planning. It is indeed important to know your sponsors and the requirements you have from them. Informative article!

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