How can you manage sponsor relationships with conflicting interests?

1 Identify your goals and values

Before you approach any potential sponsors, you need to have a clear idea of what your event goals and values are, and how they align with the sponsors' objectives and missions. This will help you create a compelling proposal that showcases the benefits of partnering with you, and also avoid any sponsors that might clash with your vision or ethics. For example, if your event is focused on sustainability, you might want to avoid sponsors that have a negative environmental impact or reputation.

2 Communicate clearly and frequently

Once you have secured your sponsors, you need to establish a clear and frequent communication channel with them. This will help you build trust, rapport, and mutual understanding, as well as address any issues or concerns that might arise along the way. You should also set realistic and measurable expectations and deliverables for both parties, and update them regularly on the progress and feedback of the event. Make sure you listen to your sponsors' needs and preferences, but also be assertive and respectful when expressing your own opinions and boundaries.

3 Balance your sponsors' interests

One of the most challenging aspects of managing sponsor relationships is balancing their interests and ensuring that they all feel valued and appreciated. You might have to deal with sponsors that have competing or conflicting agendas, such as wanting exclusive exposure, access, or recognition, or having different opinions on the event content, format, or audience. To avoid any resentment or frustration, you should try to create a fair and transparent sponsorship package that outlines the benefits and opportunities for each sponsor level, and negotiate any special requests or arrangements in advance. You should also acknowledge and thank your sponsors publicly and privately, and show them the impact and results of their support.

4 Handle conflicts professionally

Despite your best efforts, you might encounter some conflicts or disputes with your sponsors during the event production process. This could be due to misunderstandings, miscommunications, or changes in the event scope or circumstances. When this happens, you should handle the situation professionally and diplomatically, and try to find a win-win solution that satisfies both parties. You should also document any agreements or modifications in writing, and follow up with your sponsors after the event to evaluate the outcome and feedback.

5 Maintain long-term relationships

Managing sponsor relationships is not only about the event itself, but also about the long-term potential and value of the partnership. You should aim to maintain and nurture your relationships with your sponsors beyond the event, and keep them engaged and informed about your future plans and opportunities. You should also solicit their feedback and suggestions for improvement, and show them how much you appreciate their contribution and collaboration. By doing so, you can increase the chances of securing their support and loyalty for your next event, and create a strong network of allies and advocates for your event production goals.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?