Securing event sponsorship for any project can be challenging. Often, it takes time to build up a relationship with a partner and convince them that you are worth their investment. It is why a good sponsorship activation manager is a rare asset and something which event management agencies need to hold onto tight.
Recurring events can present some significant obstacles for a sponsorship activation manager. They require more comprehensive planning than single affiliations. What is the best way to construct a sponsorship program? Is it more efficient to lock a sponsor in for a whole run or should you try and keep the lineup as varied as possible?
Keep reading for some tips and advice on creating successful sponsorship programs which promise to benefit all involved.
It is much more efficient to secure sponsorship deals which span multiple events if you are planning to host a series of launches, shows, or activations. Some companies simply won’t hear of partnering up for more than one event, but others will be willing to forge an ongoing relationship if you give them a good enough reason.
Don’t forget that it is your job to demonstrate value and return. To seal a deal, you need to convince the sponsor that they’re set to make a profit several times bigger than the sum that you’re requesting. Also, it is worth remembering that sponsors can be warmed to the prospect of a longer partnership by the promise of certain perks. Assistance with permits, approvals, and local permissions tends to get sponsors feeling generous.
Make sure that, when you’re pitching the proposal, there are plenty of facts and figures to back it up. This is particularly important when it comes to the target audience for your event. A good sponsorship activation manager is one who can tell a story with demographic data. There needs to be a target age, social status (average income), and gender if your product is skewed towards either one.
Once you have landed that coveted ‘yes,’ you cannot disregard the needs of your sponsor. The biggest question is how they will be recognised at each event. You’ve got to strike the right balance between exposure and integrity. Make sure that, where the sponsor is explicitly featured, guests are receiving some kind of benefit while they’re being advertised at. Discuss, in advance, whether or not the sponsor will have naming rights. You must make it clear why an event (or multiple events) is the best way for them to reach a bigger audience.
By: Antony Hampel