But securing the right sponsorships can be a challenge. This is because sponsoring companies closely evaluate what you offer them in return for sponsorship. However, with proper planning and attractive packages, you can easily secure sponsorship for your event, whether it is virtual, in-person, or hybrid.
In this guide, we will walk you through what event sponsorship is, its key benefits, different sponsorship packages, tips to find the right sponsor & secure the deal, real-life sponsorship examples, and more.
What is Event Sponsorship
Event Sponsorship is a marketing strategy that involves providing financial, in-kind, or promotional support to the organization that seeks sponsors for its event. It is a mutually beneficial partnership in which the event organizer gets financial assistance & resources, and sponsor companies gain visibility, brand exposure, and potential leads. The primary goal of sponsoring companies is to expose their brand to a more targeted audience and increase their business sales.
For example, if you organize a marathon, a sports company will contribute some capital to host and manage the event, which will reduce the costs associated with the marathon. In addition, they will set up a booth at the event to display their premium products to potential customers.
Benefits of Securing a Sponsor for Your Event
The following are some benefits you can get from getting sponsors for your event.
- Financial Support: Event budget is typically high, so in this case, event sponsorship is often a great solution. Sponsorship reduces your financial burden considerably.
It covers essential costs associated with an event, such as venue rental, catering, speaker fees, marketing, decoration, technical equipment, and more.
When you secure a sponsorship, you worry less about the capital, allowing you to focus more on the rest of the event’s activities.
- Increases Event Reach and Visibility: Sponsors often have their own established networks, marketing channels, and audiences. Their participation increases the visibility of your program.
Your event reaches their customers, partners, and social media followers, thereby increasing brand recognition.
- Enhances Event Credibility and Prestige: When you get sponsorship from a recognized brand, your event’s credibility rises. Audiences value your event.
For example, if you hold a football tournament and an international brand like “Nike” sponsors your event, it will elevate your event and attract media attention too.
- Gains Access to In-Kind Resources: Sponsors don’t just provide financial support; they also provide help in other ways.
Instead of direct financial funding, sponsor companies provide goods, services, or resources that the event needs, such as meals, snacks, or drinks for attendees, staff, or speakers.
In-kind sponsorship significantly lowers operational costs, making your event more financially sustainable.
- Improved Attendee Experiences: Sponsorship enhances the overall event experience. Through better amenities, great catering, and entertainment, they make your event memorable.
Many sponsor companies create an interactive experience by setting up a photo booth, which leads to an engaging experience for your audience.
Different Types of Event Sponsorship
Sponsorship Type | Offerings | Example | Benefits to the Event organizer | Benefit to Sponsor |
Financial Sponsorship | Provides monetary support to cover event expenditures | Sponsoring venue rental, speaker fees, and marketing expenses | Eliminates certain expenses associated with an event and minimizes your financial loads | Logos and signs create brand visibility, as well as get speaking opportunities and boost direct sales |
In-Kind Sponsorship | Offers goods or services rather than funds | Providing food and beverages, AV equipment, event supplies, and more | Reduces program costs and makes necessary resources and resources available | Gets an opportunity to showcase the products or services to an audience |
Media Sponsorship | Provides advertising and promotional support through media channels | Offering advertising space (TV, radio, print, online), featuring the event in news coverage, and promotion on social media | Gains significant promotional reach and event awareness through media partner platforms | Wider brand reach and awareness through media exposure |
Promotional Sponsorship | Helps promote the event to a specific audience | Influencer partnerships and cross-promotion with other events or businesses | Saves on marketing costs | Sponsor gains direct exposure to your event attendees |
Venue Sponsorship | Provides the event location at a lower cost or for free | A conference hall or a park for event use | Reduces venue costs, and you get access to a prestigious or well-equipped venue | Positive brand association with the event organizer and its attendees |
Experiential Sponsorship | Creates interactive and engaging experiences for an audience | Branded photo booths, networking lounges, and gamified activities | Attendee enthusiasm, participation, and experience increase, and are likely to increase user-generated content and social sharing | Memorable brand communication and increased engagement with attendees |
Prize Sponsorship | Offers attractive prizes to event guests | Gift baskets, electronic items, travel vouchers, and company products. | Participants receive valuable prizes that they will appreciate | Brand visibility through branded giveaways as prizes |
How To Find and Secure a Sponsor for Your Event
Whether you are seeking sponsorship for a virtual, in-person, or hybrid event, with solid planning and preparation, you can secure a beneficial partnership.
So, let’s have a look at the steps you need to take to do so.
- Define Your Event Goal & Audience:
First of all, you need to define the goals of your event and know your audience’s needs and interests.
To do this, you need to ask yourself some questions, like what format would be most convenient for you to host the event: virtual, hybrid, or in-person? What goals do we want to achieve by hosting the event? Who are the people who will be attending the event? And what type of sponsorship do we need?
Once you have the answers to all these questions, it will be easier for you to proceed. Knowing your goals helps you identify sponsors whose goals align with yours. Plus, you will have no trouble securing sponsorships later on if you know your event goals and audience.
- Identify Sponsor Expectations and Goals
Understand the reasons why organizations sponsor events. Many businesses seek to expand their brand reach, boost sales, grow their social media following, or promote their products and services. If you understand what your sponsors want, it will be easy for you to secure deals with them.
Sponsoring companies know that hundreds or thousands of people attend events, so if they finance an event, their brand will be seen by hundreds or thousands of people. Further, the audience will be more likely to learn about their brand, their business, and the products they offer.
Organizations frequently aim to connect with specific age groups. They are eager to sponsor an event that helps them reach a specific audience. For example, if you have held a “kids’ fun fair”, a toy company like Luke’s Toy Factory might be willing to sponsor your event.
- Research Potential Sponsors
Begin your search for companies that can sponsor your event. Use a search engine like Google or Bing, social media platforms like Facebook, Instagram, or LinkedIn, and sponsorship platforms like SponsorPitch and SponsorMyEvent
Make a list of potential sponsors and go research each one in depth. Visit their website and learn about their vision, business goal, and target audience. Head to the “sponsorship” page for a comprehensive understanding of the partnership. Look for their sponsorship history and find the kinds of events that they have sponsored.
Additionally, list out events that are similar to the one you’re hosting. You will know which brand has sponsored their event. By conducting a thorough research on sponsor companies, you will be able to identify the one that best fits your event goals and needs.
- Craft Compelling Sponsorship Packages
Create sponsorship packages for your event, but consider multiple sponsorship levels with different price points and unique benefits in each tier.
For example, you can make 3 tiers for your sponsorship package and categorize them as Bronze, Silver, and Gold packages, each with different pricing and perks.
- The Bronze Package will cost $1000 and will offer perks like a company logo on all event marketing materials and a short promo video, and more.
- The Silver Package will be $2,000 and will include everything in the Bronze Package, plus dedicated booth space and brand mentions on social media channels.
- The Gold Package will be $3,500 and will include everything in the Bronze and Silver Packages, plus goody bags and lead generation opportunities.
- The Gold Package will be $3,500 and will include everything in the Bronze and Silver Packages, plus goody bags and lead generation opportunities.
- Finalize Your Sponsorship Pitch and Show Urgency:
Your pitch can actually make a big difference. When asking for sponsorship, prepare a persuasive pitch that shows true value to the sponsor for partnering with you. And convey a sense of urgency. Potential sponsors will act quickly.
You could say that it is an early-bird pricing and that will expire soon, or say a few sponsorship slots are left. Sponsors are unlikely to delay, because you have already convinced them of its necessity. They will immediately reserve their seat for backing your event.
- Make Your Sponsorship Page Appealing
To attract potential partners, make your sponsorship page appealing. A well-designed web page will not only be informative but will also clearly demonstrate the value proposition to your sponsors. In fact, a compelling sponsorship page will act as a powerful revenue tool.
It makes it easier for businesses to understand the opportunity and envision a mutually beneficial partnership, thereby increasing the chances of securing a valuable sponsorship.
- Showcase Your Event Sponsorship Value
Show companies how sponsoring your event is a beneficial investment for them. You need to demonstrate its value in order to secure a partnership with a potential sponsor. Inform them that their company logo, signage, and branding will be prominently displayed on your website, social media, and all event materials.
Also, demonstrate how they can boost their sales by connecting directly with your audience. And yes, when communicating sponsorship value, consider providing facts. For example, instead of saying “you will get significant brand exposure,” say “your brand will reach an audience size of 10,000+ prospects.” This will attract them and increase your chances of securing their support.
Allow sponsors to choose customized sponsorship packages that match their specific marketing goals and budget. Plus, highlight testimonials and quotes from past sponsors to convey the event’s value, as well as the benefits they receive after teaming up with you. Also, include an ROI report from your past events.
- Share Your Sponsorship Proposal & Follow up
Lastly, send out the sponsorship proposal to your chosen organization 2-3 months before your event. This will give potential sponsors enough time to review and allocate a budget. If you don’t hear back from them, follow up in 1-2 weeks with urgency.
Following up proactively will help you understand if they are interested in sponsoring your event. If so, what package would they be willing to go with?
Real-World Sponsorship Examples & Templates
1) Coca-Cola and the Olympic Games
Coca-Cola is a beverage brand that has been a sponsor of the Olympics since 1928 and will continue until 2032. Coca-Cola’s association with the Olympic Games is one of the longest corporate partnerships in history. Their most successful recent collaboration was the 2016 Rio Olympics.
As a global top partner, Coca-Cola provides financial support, beverages to athletes, officials, volunteers, and spectators, and is involved in extensive marketing campaigns to build excitement among people for each edition of the Olympic Games. As a global event, the Olympic Games offer a unique opportunity to celebrate this event.
The enduring partnership benefits both entities. Coca-Cola gets unmatched global exposure and an opportunity to engage with a vast audience. The Olympic events get financial support, logistical assistance, and more.
2) PepsiCo and NFL
This is another example to learn.
PepsiCo has had a long-standing sponsorship with the National Football League (NFL) for nearly 20 years. It is a major partner of one of the most popular sports leagues in the United States. This partnership spans across various PepsiCo brands, including Pepsi, Pepsi Zero Sugar, Gatorade, and Frito-Lay. Pepsi reportedly invested $100 million in the 2020 Super Bowl alone
The long-term collaboration became mutually beneficial for both. Pepsico’s sub-brands, such as Pepsi, Pepsi Zero Sugar, Gatorade, and Frito-Lay, gain significant brand recognition. It also helps increase sales among a large number of NFL fans. On the other hand, the NFL got significant financial support for event operations and initiatives.
Final Thoughts
Event sponsorship is a collaboration that truly creates a win-win situation for both event organizers and sponsors. Event planners get financial support, resources, services, and more. On the other hand, sponsor companies gain brand visibility and exposure, access to a vast audience, networking opportunities, and more.
If you want to onboard the ideal sponsor that aligns with your event vision and goals, conduct thorough research on potential sponsors, create multiple sponsorship packages, prepare an awesome pitch, and communicate its value.
FAQs
Approach those whose target audience aligns with your event attendees. Consider tech companies for conferences and meetings, beverage brands for any kind of event, or health and nutrition brands if it is a sports event. Plus, you can approach tourism companies.
