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If you’re thinking of organizing and hosting an event, chances are you’re looking at ways to finance it. Especially as a smaller company, you would have no such generous budgeting to dip into without worry. Instead, you’d have to opt for alternatives like sponsors. Sponsors can be a great option but securing them can be tough. It’s much like trying to land a new job but here are some things you should keep in mind to make the process easier.

The Details

It’s all in the details. You don’t send in generic sponsorships proposals to your potential sponsors, do you? You need to personalize and put some visible effort in. It has to the standout, after all, the company gets plenty of proposals like this, what makes you any different? The devil is in the details, so make sure to include how your company started off. If it has humble beginnings, you could be able to make an emotional connection to your sponsor. Then describe what it is you do exactly and how you live up to your goals. Include your target market (and it’s always best that this matches the sponsors because they have more to gain that way) and round up with specifics on the funding you need. Break down what exactly their money will go towards.

Incentives

Sponsors need to know that they get a return on what they’re giving out so you need to add plenty of incentives mixed in with flowery words if you want to sweeten the deal. For example, if it’s a venue that includes yarra valley restaurants, you can offer any customers interested in visiting discounts and offers. You can add the sponsor’s logos to flyers and any promotional materials, while also including them in your posts and e-mails. This will give them more exposure. You have to show them that you’re willing to give more than you take if you want to be taken seriously.

Minimum Risk

Especially if you’re a start-up or haven’t really worked on your reputation to date, a sponsor would be reluctant to trust you. If you’re thinking of working with these sponsors long term, then you should go ahead with a trial. You need your sponsor to trust you at the end of the day if you want them to keep doing business with you. The best way to go about this is to ask for a much smaller sum of money in your proposal and offer a few of the above incentives for free. The whole point of this trial basis is for the sponsors to test the waters and see that you are a reliable investment. However, if you do go down this route, you’ll need more sponsors to fund your event to make it a success. It’ll definitely pay off in the long run, however.

Attracting sponsors to an event isn’t an easy business. It’s competitive so always make sure to give more than you get. This will give them a deal they can’t say no to.


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