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How to Increase Your Budget Through Event Sponsorships

Read more on how to increase your event budget through sponsorships

Getting funding for your event from a sponsor seems like quite a sound reason for screaming “Yeah!” like crazy, making a funky head dance, and opening a bottle of champagne at the same time. That’s not hard to guess, making a deal with a sponsor isn’t as easy as ABC.

But guess what, there are several strategies that’ll bring you closer to attracting sponsors’ attention to your event. Raise your event budget with sponsorships money!

Who’re you, Mr. Sponsor?

Before starting your campaign on funding search, you have to create a clear image of what sponsors role at your event is. That’s not a secret that sponsors don’t allocate their funds to projects just because they like them. At least that’s not a common case. Every event sponsorship promises some benefits for the one providing it.

Now look deeply into your event agenda, evaluate the resources that you operate, set the priorities, and you’ll see what you can provide in exchange for a sponsorship. Here are some suggestions:

  • Logo inclusion on all marketing materials
  • The right to use the logo of the event
  • Recognition at the event
  • Banner place
  • The opportunity to give a speech at the event

Don’t waste your time by writing long letters to the sponsors, who won’t be interested in any of these benefits. Just find the right people and make the right deal instead!

Get sponsors for your event in 6 steps

Haunting sponsors and sending endless proposals may be stressful. And challenging. And frustrating even. We know that you want to find a sponsor for your event without turning your hair grey. Jump on our 6-step strategy for attracting event funds and prepare for a call from your next sponsor.

#1. Make your proposal unique.

No one likes formulaic letters. No one. Sponsors included. Even if you’re writing a letter to 100 of people, make each of them stand out. It shouldn’t be super long, with sophisticated data and graphics. On the contrary: make your proposal easy-to-read and choose the approach that will fall into line. Consider that good proposal offers share:

  • A friendly tone. Be as open and honest with your sponsor as possible. Ok, don’t tell him about the party you’ve recently gone to. Just make the words sound right in your head, as if he was listening to a real person, holding a cup of tea in his left hand. Make the message crystal-clear: “I need your support, but it’s not about the money, it’s about establishing a long-lasting partnership with you because I really appreciate what you do.”
  • A personal story. Define yourself in the best way you can. Your sponsors have to know who you’re to make a decision.

#2. Barter.

Once again: you won’t get an event sponsorship for the gorgeous eyes you have. Offer incentives that might be interesting for your sponsor in exchange for funding. Include the logo, offer free tickets, the opportunity to speak up at the event – you’re the one to decide here.

#3. Little gains are also gains.

Do you represent a relatively unknown client or a startup? It might scare off the sponsors. No one wants to invest big money into innovation because it’s quite a risk to take. In this case, ask for small funding. If you’ll make it right, a sponsor on the other side might like the idea of risking a small sum for your event. Who knows, maybe your client will turn into a rising star in the end?

#4. Double your chances.

If you can’t achieve the result because sponsors refuse to cooperate with an unknown business, initiate a partnership with a well-known company. Gain sponsors attention – share benefits with the partner. Easy!

#5. Study them.

You know what can bring funding to your event? The right moment. Follow your potential sponsors’ profiles and try to catch the wave, on which providing a sponsorship for you might be just what they need at the moment! Imagine: a sponsor has just launched a new brand within your niche. It needs to be brought into the industry as soon as possible. So… No need to explain more, you’ve got the idea, right?

#6. Do the homework for your sponsor.

Instead of waiting until your sponsors will glean all the benefits that your event funding promises to them, make the outline of them yourself. Present your potential sponsor with the advantages he can score and wait for the response. Everyone likes their homework is done for them.

Increase your event sponsor ROI and raise your event budget by sponsorships money

You’re the one interested in getting a sponsorship. This means you’re the one interested in your sponsor profiting from the deal. Learn how to boost your event sponsors ROI and get mutually-beneficial relationships!

  1. Unite your communities. Selfish as it may sound, an event is, in most cases, just a car, which will bring your sponsors to their destinations. Present a sponsor with the information about your attendees and persuade him that you have common audiences to share. This will motivate them to start the car, we promise.
  2. Offer digital presence. If you’re to organize an event, you’ve definitely created a bunch of all caps, shouting posts on diverse online platforms, social media included. Maybe you have a large community? Use it. Give your sponsors space for promoting themselves. That’s highly appreciated.
  3. Let them touch your planning. As the event comes closer, provide your sponsors with privileges on taking part in the planning. Send them an email with the venue map or some comments on the organizational staff.
  4. Give a follow-up. Again, the main goal of your sponsors is talking to your event audience. Provide them with the opportunity to reach out to the attendees. A contact list, a network community, a follow-up party – that’ll be a solid ROI booster for your sponsor.

So, do you increase event budget through sponsorships?

Definitely. Getting funding for your event may double or even triple the budget you currently have. To reach your aim, you just have to treat a potential sponsor smartly. Construct a unique proposal, tell your story, disclose all the benefits that the deal promises. Period. Hey, I guess someone has just dropped you a line! To get new event management solutions for your budget, get started for free!

Download for free – The Event Sponsorship Guide

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