Are you a business owner looking to host an event to promote your brand’s products or services? For smaller companies, this is an effective way to gain fresh clients/customers, as well as to network with other brands who are willing to help fund the event through sponsorships. However, finding sponsors that align with your company’s target audience, reflect your brand’s values, and are willing to work with your business can be tricky — rejection is likely, but that is key to finding a sponsor that fits!

Why are sponsors important and why does your business need them?

Having one sponsor or multiple at your company’s event can open up a variety of opportunities for your business including, but not limited to: building brand awareness, increasing sales numbers, and improving brand image. But, there are a few ways to decide if a sponsor is really necessary for your event through determining your event goals and intended outcomes.

• For bigger companies, large events, particularly those with high profile guests and/or speakers will attract coverage through sponsorships with media outlets such as TV/radio stations, and other digital platforms.
• Having a well thought-out plan and concrete goals for your event is a great way to give your brand a strong image, however, if additional funding is needed to push your event to its fullest potential, sponsorships or collaborations with well-known brands, or even promoting/highlighting their latest product at your event is an effective strategy for increasing your funding. Additionally, audiences’ in favor of the company/product sponsoring your event will be incentivized to attend, creating a higher potential for new clientele.

Choosing the right sponsor

When you pitch to potential sponsors, there is always the chance of rejection, but don’t let this discourage your brand development or event! There are countless organizations willing to sponsor smaller brand’s events, especially if it has the potential to create a mutually beneficial relationship between your organization and your event’s sponsor. Both big and small events need sponsors, and the key to obtaining them comes from taking the time to research and plan your event to determine which companies to reach out to. Before starting that process it’s vital to understand your event goals and what you want out of a sponsorship (i.e., how will that sponsorship provide value to your event and vice versa).

• When pitching potential sponsors, it’s important to select ones that are most likely to understand the value of your event and the marketing a sponsorship will offer. It is up to you, as the facilitator of the event, to convince them that their investment in your event will pay off.
• Select sponsors whose audiences and demographics are similar and share the same interests as your brand. Picking out key areas both you and your sponsor share to highlight for your event is an effective way to earn a sponsorship that will benefit your event.
• Thoughtful sponsorships that will truly benefit your event are those where a mutually beneficial relationship exists between both your event and the potential sponsor. Long-term event ROI (Return on Investment) is a valuable form of measurement great sponsors will use to assess the impact your event will have on their brand, and in the way their presence will impact your event.

“So where do I start?”

Finding event sponsors doesn’t have to be a daunting process. It is going to require research and out-of-the-box thinking, however, finding sponsors is not an unattainable feat.

• Utilize digital spaces. Finding sponsors for an event can be incredibly difficult if you don’t know where to find them. However, in our digital atmosphere, there are a variety of reliable resources that can provide a solution for finding a sponsor.

• • • Search engines such as SponsorMyEvent (utilized by Forbes and TEDx) and SponsorPitch provide tools for finding sponsors that align with your events.

• Establish concrete event goals. Think about and write down your top three event goals. You don’t want to pick one sponsor that barely aligns with one of them, but you also don’t want multiple that don’t align with any. Whether you choose to only have one or multiple sponsors is up to you, but it is important to determine the specific goals you have for your event, and to select a sponsor(s) that strongly meets those goals.

• Be picky. Since your event goals are so important to selecting a sponsor, it’s okay to be picky about the sponsors you are reaching out to/choosing. Finding sponsors, pitching, and setting up meetings can be tedious and time-consuming. Before reaching out, narrow down your choices to your strongest options, a.k.a, those whose goals align the closest with your event. Additionally, know your audience and look for organizations whose own audiences are most similar to your own.

Reaching Out

When pitching to potential sponsors, it is important to provide a plethora of concrete details both about your company, your values, and the goals of your event. Make sure to offer reasoning for why you want that particular company to sponsor your event, and how they will benefit from doing so (offering incentives and minimum risk solutions). Stay up to date on what potential sponsors are up to, understand their company, and choose organizations that are more established, especially if you are running a smaller event.

Most importantly, stay true to your brand’s values and know what it is that you want to accomplish through your event and its sponsors!

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