How do you diversify your event sponsorship sources and strategies?

1 Identify your target sponsors

Before you start looking for sponsors, you need to have a clear idea of who your ideal sponsors are and what they are looking for. Think about your event goals, audience, theme, and budget, and research potential sponsors that align with them. Consider their industry, size, location, values, and marketing objectives. You can use online databases, social media, industry publications, and networking events to find and contact potential sponsors.

2 Customize your sponsorship proposal

Once you have a list of target sponsors, you need to create a compelling sponsorship proposal that showcases the benefits of partnering with your event. Don't use a generic template or copy-paste from previous proposals. Instead, tailor your proposal to each sponsor's needs, interests, and goals. Highlight how your event can help them reach their target audience, increase their brand awareness, generate leads, or achieve other outcomes. Include specific sponsorship levels, packages, and options that suit their budget and expectations.

3 Offer creative and diverse sponsorship opportunities

To diversify your event sponsorship sources and strategies, you need to offer more than just logo placement or booth space. Think of creative and diverse ways to integrate your sponsors into your event and provide value for them. For example, you can offer experiential activations, product demos, speaking opportunities, social media campaigns, content creation, or co-branded merchandise. You can also leverage digital platforms, such as live streaming, webinars, podcasts, or blogs, to extend your event reach and exposure.

4 Communicate and negotiate effectively

Communication and negotiation are essential skills for securing and maintaining event sponsorship. You need to communicate clearly and professionally with your potential sponsors, follow up regularly, and address any questions or concerns they may have. You also need to negotiate effectively to reach a mutually beneficial agreement that meets both your and your sponsor's needs and expectations. Be flexible, respectful, and transparent, and don't be afraid to ask for what you want or walk away if necessary.

5 Deliver on your promises and measure your results

Once you have secured your event sponsorship, you need to deliver on your promises and measure your results. You need to fulfill your obligations and provide the agreed-upon benefits and services to your sponsors. You also need to track and report on the performance and impact of your sponsorship activities, such as attendance, engagement, leads, sales, or media coverage. You can use tools such as surveys, analytics, feedback forms, or testimonials to collect and analyze data and feedback.

6 Nurture and retain your sponsor relationships

The last tip to diversify your event sponsorship sources and strategies is to nurture and retain your sponsor relationships. You don't want to lose your sponsors after one event or have to start from scratch every time. You want to build long-term partnerships that grow and evolve over time. To do that, you need to keep in touch with your sponsors, thank them for their support, share your results and success stories, and invite them to future events. You also need to solicit their feedback and suggestions, and show them how you value and appreciate their partnership.

7 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?