How do you secure sponsorships for live events?

Identify the primary objectives of your event, whether it's brand awareness, lead generation, community building, or something else. Clearly outline specific, measurable, achievable, relevant, and time-bound (SMART) goals. Understand your audience demographics, interests, and behaviors. Highlight the unique characteristics of your audience that make them valuable to potential sponsors. Highlight the benefits sponsors will gain by associating with your event, whether it's exposure, access to a niche market, or other advantages. Successful sponsorship pitches require a combination of preparation, understanding your value proposition, and effective communication tailored to the specific needs of potential sponsors.

In order to find sponsors start by researching Similar Events. By identifying sponsors who have supported events similar to yours, you can create a potential sponsor list. These sponsors have already shown an interest in your industry or event type. Each sponsor may have specific criteria and requirements for sponsorship. This can include factors like target audience demographics, event size, industry relevance, and branding alignment. It's crucial to thoroughly understand these requirements before approaching potential sponsors. They will know if you haven't done your research.

Your conference or event may be in the best location, you could have top-notch speakers and be expecting over 2,000 decision-makers in attendance but if you can’t articulate the return on investment to your sponsor then you have lost them. When explaining the ROI for your event, there is only one thing sponsors care about...how will sponsorship help them achieve their goals? Make sure your pitch highlights the ROI multiple times and add graphics in addition to words to explain the ROI. Finally, you have to be ready to make a call. You can deliver the pitch via email but new sponsors will not sign a 5 or 6 figure sponsorship without an in- person (or virtual) pitch meeting. Get ready to sell!

The #1 mistake events make when soliciting sponsors is not actually providing the sponsor any value. A sponsorship is meant to deliver the value back to the group, it's not meant to serve as charity to underwrite an event. Deliver your sponsor with proper value through promotion, VIP experiences, perks, and exposure, and it's easier to justify the expenditure.

Sponsorships should be beneficial to both the rightsholder and the sponsor. The event needs money in order to bring the event to fruition, and the sponsor is willing to pay cash (or offer in-kind donations to offset costs) in order to meet one of their goals. As an event organizer, I try to be sure my sponsors understand they are essentially paying for the rights to use my event as a tool to meet their marketing goals. The cash they are paying gives them rights to activate, but they should always have money set aside, on top of sponsor payment, to actually leverage their sponsorship. I generally commit to spend 10% of sponsor cash to myself leverage the sponsor's position.

This is merely table stakes. If changes are to occur, prepare to make good above and beyond what was agreed to. Sponsors can be the difference between one off events and annual sustainable events. You should plan for every aspect of delivering on your sponsorship promises, and the minute an issue arises, attack it head on with your sponsor and you'll build your relationship more deeply. Try to patch it over and fail, and you'll be left with an unhappy customer and lose on a potentially lucrative year after year partner.

Today, businesses seek strategic partnerships that offer solutions, meet specific needs, or elevate their endeavors. Think of sponsors as fleeting dates; enjoyable but often transient. Partners, on the other hand, commit to a lasting relationship. They stand by your side through the years, projects, and events. Partners not only share your journey but also contribute invaluable expertise and guidance. Their vested interest in your success aligns with their own objectives. While not every sponsor will transform into a partner, treating each potential sponsor as a prospective long-term ally can yield loyal supporters. Over time, your efforts will bear fruit, making your event increasingly self-sustaining.