Organizing, marketing, and running an event takes a lot of hard work. It can also be expensive. That’s why more than 65% of event planners seek sponsors.
The thing is, sponsors won’t just come out on their own. If you want to form and build lasting partnerships with the right high-quality sponsors for your events, you’ll need to show prospects why your event is worth their investment. The way to do that is with compelling event sponsorship packages.
The Role of Sponsorship in Event Success
One of the most significant benefits of securing sponsors for your events is funding. The financial support and additional resources you receive from sponsors can go a long way in helping you organize incredible events your attendees are sure to love. But that’s only the beginning. Here are a few additional benefits of sponsors that strategic partnerships with outside organizations can bring:
- Additional resources: Other than funding, event sponsors can provide other valuable resources, such as promotional materials or products to use in a giveaway.
- Increased social proof: Partnerships with reputable organizations that share your values can lend significant credibility to your events, helping you to attract more attendees.
- Attract more attendees: Sponsors can advertise your event to their audiences, putting you in front of potential attendees you might not have been able to reach otherwise. The trust and respect those prospects have for the sponsoring organization could spark their interest in learning more about — and attending — your upcoming event.
Benefits of Well-Structured Sponsorship Packages
The best event sponsorships are mutually beneficial partnerships. Sponsors support your event with funding or other resources, and you provide something valuable to them in return. That value can take many forms, including increased brand exposure, access to attendee data, sales opportunities, and more. It can also vary from one potential sponsor to another.
Enter the event sponsorship package. Essentially, a sponsorship package is a pitch to target sponsors. It’s a document or brochure that introduces your event, outlines what sponsors will receive by partnering with you, and explains what you’re asking for from them. These can be in-person event sponsorship programs, virtual event sponsorship packages, or a combination of the two.
A well-structured event sponsorship package has many benefits. First of all, it’s more enticing. Well-structured corporate sponsorship packages provide a clear return on investment (ROI) and showcase how your event can help prospective sponsors achieve specific goals. On top of that, they take each target sponsor’s unique needs and objectives into consideration. Custom-tailored packages demonstrate that you’ve taken the time to learn about each of your target sponsors and thought about how your event can help them succeed.
Delivering the value of your sponsorship opportunity and ensuring positive experiences can also go a long way in helping you build lasting relationships with your sponsors. That can make it easier for you to gain their support for future events.
In short, attractive, thoughtfully crafted event sponsorship packages are a win-win for you and your sponsors. There’s another party that benefits, too — your event attendees. The money and other resources you receive from corporate sponsorships can go toward creating better, more exciting, and more memorable experiences for the people who attend your event. Some ideas might include:
- Extra stages and additional entertainment
- Hiring more food trucks
- Livestreaming (turning your in-person events into hybrid events)
- Offering virtual reality (VR) or other fun interactive experiences
Better experiences lead to more satisfied attendees. And happy attendees are more likely to become repeat patrons. They’re also more likely to tell their friends, which can help you attract even more attendees for future events. That not only helps you but your sponsors, too.
Steps to Creating Compelling Event Sponsorship Packages
Now that you know the importance of event sponsorship, it’s time to create enticing packages that convince potential sponsors to join you. Here’s a quick guide on how to do just that.
Identify Your Event’s Value Proposition
Your event value proposition is the thing that makes your event unique. It’s the reason why people choose to attend in the first place.
To determine your event’s value proposition, you must first figure out why you’re hosting it in the first place. What are your goals and objectives? You’ll also need to determine your target audience and what drives them. What would motivate them to attend, and what do you have to offer that would fulfill those motivations? How are you different from other similar events?
Potential event sponsors will want to know the answers to these questions. They’ll also want to know what’s in it for them. Why should they partner with you?
Define Tiered Sponsorship Levels
A key component of effective sponsor packages is options. Using the tiered sponsorship model, you can create multiple levels — each featuring its own unique benefits — with different price points.
First, figure out how many levels or types of sponsorships you want to offer. It’s common for packages to include three to five options, each with its own name. For instance, you might go with Bronze, Silver, and Gold. Or, you can get creative. In addition to being more fun, unique names can help your sponsorship package stand out and attract more potential sponsors.
Then, you’ll need to determine what organizations will get at each level, with the sponsor benefits increasing incrementally the higher up they go. Pricing should reflect the value of each tier. However, it should also be competitive. For instance, your Bronze tier
By offering options, you enable sponsors to choose the level of sponsorship that best fits their objectives and budgets. It also allows hesitant sponsors to “try before they buy.” They can start with the lowest tier to see how it goes with minimal risk. If their results are favorable, they might opt for a higher level of sponsorship next time.
Inclusion of Brand Visibility Opportunities
One of the top reasons why organizations partner with events is increased visibility. Dive deeper into this benefit by highlighting all of the ways you can bring sponsors to the attention of your attendees. Whether you’re hosting in-person, hybrid, or virtual events, event sponsorship package examples might include:
- Logo placements at your event
- Sponsored polls/surveys
- Video content (one-on-one interviews, product/service showcases, highlighting social responsibility efforts)
- Digital banners
- Branded event swag
- Engagement opportunities
Include brand visibility in your sponsorship tiers. The higher the level of sponsorship, the more — and better — opportunities organizations have to get in front of your attendees. For instance, the lowest tier might include logo placements on your website and all event-related materials. The highest level, on the other hand, might include a chance to speak at your event or booth in a prime location.
Incorporate Sponsorship Benefits and Perks
Brand visibility is just one of the perks of sponsorship. What else will potential sponsors receive? For example, you might offer access to attendee data, free tickets to your event, or exclusive VIP perks for your top-level sponsors. Detail the benefits included with each tier, emphasizing the ones that are most relevant to each prospect’s needs and goals. Including a visual like a table can help make the information more accessible.
Leverage Digital Promotion for Sponsors
Digital marketing offers numerous opportunities to spread the word about your upcoming event to a wider audience. It also allows you to spread the word about the sponsors that are helping you pull it off.
When crafting your event sponsorship program, mention all of the ways you’ll promote potential sponsors online. That may include:
- Placing their logo on your event website, registration page, digital marketing materials, event app, and more
- Sponsor spotlights on social media
- Live interviews or Q&As
- Banner/pop-up ads
Effective Strategies for Pitching Sponsorship Packages
You’re almost ready to start sending event sponsorship packages to target sponsors. Before you do, here are a few additional tips to help you pitch your event:
Customize Proposals for Different Sponsors
Every potential sponsor is unique. Generic copied and pasted sponsorship proposals won’t cut it. Instead, you’ll need to take the time to get to know your prospects and tailor your proposals and type of sponsorship benefits to each one. Sponsorship management software can help make this process easier. Highlight how your event aligns with their values and goals and how it can help them achieve their objectives. That kind of customization can demonstrate how serious you are about forging relationships with sponsors that benefit both of you.
Highlight ROI and Measurable Results
You’ll have to do more than tell potential sponsors how your event will help them achieve specific goals; you’ll have to show them. They’ll want proof that you’re worth their investment with a sponsorship prospectus.
One of the best ways to demonstrate ROI for sponsors is by providing past event data. And if you’re using event management software, you’ll have access to all kinds of valuable details, such as:
- Event attendance numbers
- Attendee demographics
- Social media engagement
- The number of leads your previous sponsors received
- Revenue past sponsors earned
Craft Persuasive Sponsorship Proposal Documents
Be sure to include a letter that provides a detailed overview of your event. Along with the date and location, mention its purpose, objectives, and anticipated attendance. Go over the theme, activities you’re planning, and the key features that set your event apart. You might even want to provide testimonials or case studies from past sponsors. Their positive feedback and success stories can help make a prospective sponsor’s decision easier.
Simplify Event Planning With the Latest Event Technology
With the right sponsors, you can put on better, more successful events that exceed attendee expectations and help you and your sponsors achieve your goals. Securing those sponsors, however, can be tedious, especially when you already have so much on your plate. That’s where Events.com comes in.
Events.com’s sponsorship management software makes crafting sponsorship proposals a breeze. You can enter prospective sponsor details into your own database to auto-fill documents, customize sponsorship packages using our robust library of templates, and send and track proposals directly from your account.
Ready to start creating your event sponsorship packages? Visit Events.com today!