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The Impact of Effective Sponsorship and Events on Brand Growth
Learn unique ways to leverage sponsorship and events to reach wider audiences
July 12, 2024
1:57 pm
Events are effective ways to get noticed, boost visibility, and establish thought leadership. On the other hand, event sponsorship involves an organization providing financial assistance to an event in exchange for specific promotional benefits.
Event sponsorships can come in different forms and might seem like an approach that doesn't work all the time—one of those too good to be true options.
An example is Coca-Cola and the Olympic Games Coca-Cola has been a sponsor of the Olympics since way back in 1928, and its most successful collaboration was on the #ThatsGold campaign during the 2016 Rio Olympic Games.
It can be difficult to imagine a company willing to fund one's event needs, as a lot goes into it. Therefore, you need to know how to write compelling emails asking for sponsorship and the values you are willing to offer sponsors.
For many events, The key to powerful marketing is sponsorship. Additionally, having more event sponsors can help open up opportunities for increasing the number of sales, building brand awareness, and improving one's brand image.
Seeking sponsorship doesn't have to be an arduous task. Instead, understanding what is to be known about event sponsorship can help one gain the grounds for one's event.
Although sponsorship comes with its own package, when you can prove to offer value by increasing the brand's visibility and exposure, many brands will be willing to pull the necessary strings to contribute their quota and see that the event is a success.
Getting the right event sponsor isn't easy, especially for event planners who are just considering sponsorship for the first time, but with the proper backing, it gets easier.
So, the first question is, what can you do differently for your sponsors, and what do you want to be remembered for when they sponsor your event?
Does your corporate retreat need sponsors? We've highlighted five ways to go about it. Recommended Post: A Guide to Creating Memorable Events in Lagos
Now that you are planning to host an event, be sure to know what this event stands for and what the attendees stand to gain.
Even if some of these goals are finance-based, be sure of the right sponsors to reach out to and consider the type of event sponsorship.
For example, a media sponsor wouldn't help with accommodation sponsorship for your event guests; is it a sponsored livestream, promotional event sponsorship, media event sponsorship, or in-kind sponsorship?
This is very crucial; once you've put in the time to research your list of ideal event sponsors and create an ideal sponsor list, the next thing that should come to mind is crafting the perfect proposal.
Planning at this time would go a long way. You should have your sponsorship details, previous event statistics and analytics, and event plans handy before you walk into the room. Finally, reach out to ideal sponsors that can boost your organization's profile and a positive reputation.
You can also look up related events for ideas on getting potential sponsorships. For example, look out for similar events in your industry and see their list of sponsors.
Furthermore, you can also take your time to check the benefits those events offer to their sponsors; you might as well want to provide such opportunities.
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Now you have a list of your ideal event sponsors; the same principle you apply in sending specific cover letters to every company you used while seeking a job should be employed in event sponsorship proposals.
Putting together a proposal you can send to prospective sponsors would work fine for attracting them.
However, they'll need to know a lot of information about your event, including what it is about, your venue, the number of attendees, and how many attendees will be present.
You've done your research and should also make your proposal stand out, ensure you're confident in your approach, and you might get feedback from your sponsors in no time.
A well-written proposal would take you a step away from getting your desired sponsorship; you can also include the following details:
Introduce your company here and what it stands for. Be as concise as possible. Offer a brief introduction to your organization.
What do you do, and how does your company live up to its mission statement? How has your company reached out to people over the years?
Hosting a hybrid event enables you to reach more people while retaining elements of both virtual and in-person events.
With the aid of the internet, more people can participate in and attend trade shows, conferences, boot camps, and training.
There shouldn't be any need to beat around the bush. What will their input be if they eventually accept to be sponsors?
Do a breakdown of what the financing will go towards, such as food, event venue rentals, logistics, etc.
Once the event proposal has been sent out, it's advisable to follow up promptly; your event might not be of as much priority to your sponsor as it is to you.
This is why it's essential to follow up; you can also discuss your follow-up routine with your event sponsors, so they know the whole process.
For example, you can discuss with them when you will follow up and how you intend to go about it. Before this, ensure you are very sure of the routine to be followed because you wouldn't want them to see you as unreliable.
This alone will impress them and go a long way towards building a lasting relationship and securing event sponsors.
This might be easier said than done. Your company is seeking funding, so you naturally need the sponsors more than they need you.
So, it would be appropriate if you asked your ideal event sponsors what they want and what they expect from your event.
Knowing this, you can arrange a customized sponsored package to fulfil their requests.
However, don't be afraid to negotiate and offer alternatives if you feel you can offer a better package; it should benefit both parties.
And while incentives will be event- and industry-specific, here are a few general suggestions to get you thinking:
offering discounted rates to customers that buy from the sponsor at the event to encourage more sales.
—including the sponsor's name and logo on all promotional materials
—programs, flyers, and banners.
acknowledging the sponsorship in your blogs, emails, newsletters, and social media posts.
acknowledging the sponsorship in your blogs, emails, newsletters, and social media posts.
free advertising space in the marketing and promotional materials provided at the event.
Also Read: Strategies to Finding the Best Corporate Event Vendors
Have you successfully secured your dream sponsorship, and are you ready to book your event venue?
We definitely can't wait to host you! The Zone is a leading innovator in physical corporate events located on the mainland, in Gbagada, Lagos, and is readily available to cater to every one of your corporate event needs.
We are more than delighted to help you make your next sponsored event a success. Book a space now, or kindly reach us via 09030411878 or 08092560860. You can also write to us via hello@thezone.ng.
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