RISING TO THE CHALLENGE OF SECURING SPONSORSHIP FOR EVENT PLANNING IN THE CURRENT ECONOMIC CLIMATE

The costs of running an event can be significant. Selling tickets online (attendee fees) may not be enough to ensure success and achievement of your financial goals. Securing sponsorship for your event may be a requirement. Professional event organizers will be well versed in the steps to securing suitable sponsors and sponsorship. New event organizers may find it daunting the first time round. All event organizers are challenged in the current climate to secure new sponsors and or retain existing sponsors. But, this is still possible. How? Start early!

The process commences at least a year in advance. Once you have your sponsorship guaranteed you have secured the financial status of the event. This in turn gives you the option of discounting attendee fees or even making the event free to some/all attendees. You can also look at offering a discounted fee for early bird registration, always a great help in managing the significant cashflow issues around event management.

First, as an event organizer, you need to do your homework on your targeted sponsors.

What are their company goals and objectives?
Are your conference / event attendees their target audience and buyers?

To secure sponsorship with any organisation, you need to demonstrate how they can reach their target audience through your event. Have a look at their competition and what they are doing: can you help them establish a meaningful difference through your event, for instance?

Be clear about the benefits. Before you meet them, identify where they will get coverage: on your website, in your newsletters, emails about the event to your database, in the lead up to the event. Placement of their banners at the conference or event itself. Think about a brochure / event booklet and where your sponsors can get mention. Booklets can be a great way of attracting additional funding, for instance, if you are running a charity ball. What about any media activities you are conducting? Can mention of your key sponsors be incorporated?

Professional event organizers need to have an understanding of their sponsors’ business and maintain ongoing good working relationships with their sponsors. Remember that a race isn’t won at the beginning or the end, it’s what you do along the way that counts. And never under-estimate the value of post event follow up meetings and discussions to ascertain what you can improve on/do differently the next time out. Don’t take the money and run. Stay in touch.

If we can help, get in touch: info@eventelephant.com

If you have any wining tips that you wish to share then do get in touch!

Thanks to Marie at Event Management International for her contribution.