Without the generous support of corporate and industry sponsors, many business and consumer events would fold. Here are some tips for organizations on the hunt for sponsorship dollars.
1) With annual events, it’s important to review the sponsorship package on a regular basis. As the industry changes over time and event attendance fluctuates, sponsorship packages should be tweaked accordingly. Even if the world around your event doesn’t change, sponsors appreciate fresh ideas.
2) If your event has no history, here are the most important factors to consider when designing and pricing event sponsorship packages
- Reach. How many people will your sponsors reach with this sponsorship? Are these people decision makers/buyers for your sponsors?
- History. Does your organization/conference or event have a history that is sufficient to project the reach you say you will provide?
- Your industry. What other events are attended by your target sponsors? What is the cost of sponsorship at those events?
3) Finally, be flexible! Maintain close relationships with your sponsors and be open to ways to enhance your offering. Chance are, they sponsor other events besides yours, and if they have seen something elsewhere that appeals to them, give them a chance to suggest it to you.