Part 2: An Expert's Guide to Event Sponsorship Success

Last week we talked about how to avoid common sponsorship pitfalls. If you missed that post, check it out here. Achieving event sponsorship success these days is not quite as simple as it used to be.

If 2020 taught us anything (the understatement of our time), we learned that virtual events can be inexpensive, inclusive, and interactive. But with online events and marketing channels now on every corner, it takes a thoughtful and data-driven strategy to stand out in the crowd.

Wondering how you can rise above the competition? Consider taking a more methodical approach to finding and securing event sponsorships. And learn how to convey why your event is a win-win scenario for attendees and prospective sponsors alike.

Do your research

Finding event sponsors begins with doing some homework. Where to start? You guessed it: Your event audience.

Our experts say the best way to pique sponsor interest is by highlighting the value of your event community. They suggest expanding what you know about your event audience by taking a data-first approach. And creating two to three attendee personas to help bring your audience to life for prospective sponsors.

“You’ll want to have 25 to 30 data points on your audience,” Chris says. “Be sure to have insights on who attendees are, what they want, what they’re interested in buying, their interests, and their values.”

Beyond their event platform’s insights, event professionals can also tap into the following sources to weave data into their approach:

• Google Analytics: Understand website visitor trends and shared behaviors to get a pulse on an audience’s online habits.
• Email marketing platforms: Learn about popular topics and shared interests by analyzing email campaign data.
• Google Alerts: Discover top media outlets and new stories relevant to your event audience –– all delivered to your inbox.
• Survey tools: Create survey questionnaires to send your audience to understand their needs, desires, values, and the like.
• Social media accounts: Find out what drives engagement with your audience by looking at your social media account analytics.

Equipped with an in-depth audience understanding, you’re ready to start searching for potential sponsors. Since access to audiences is top of the list for potential sponsors, be on the lookout for companies whose potential buyers, amplifiers, or influencers mirror your attendee audience.

Here are some ways to help you identify potential sponsors to target:

• Search event sponsor marketplaces and websites, like SponsorMyEvent and SponsorPitch, to find prospective sponsors to engage based on their audience and needs.
• Look at past events different brands sponsored to determine if your event might be a good fit for their audience.
• Scour articles and corporate websites to get a feel for prospective sponsors’ target audience and marketing initiatives your event can support.

Want a success shortcut? If your event budget allows, you can engage with experts like The Sponsorship Guy or The Sponsorship Collective to guide your sponsorship efforts.

Once you’ve found a set of initial companies to target, do some research by job title on LinkedIn to determine the best people to approach. Then, get ready to spend some time reaching out to these folks to gauge their interest in sponsoring your event.

Personalize your outreach

Do you open every email that hits your inbox? Probably not. With that in mind, aim to be thoughtful in your approach so potential sponsors will actually click on your message.

Avoid taking a blanket approach to your outreach or you’ll wind up lost in the noise. Instead, Larry suggests tailoring your pitches to prospective sponsors.

“Incorporate what you’ve gleaned about your target sponsors into your personalized outreach,” he advises. “Get at that thing that indicates [metaphorically speaking] their desk is on fire and you’re selling fire extinguishers. Show them that you understand their challenges and have just the solution for them.”

Here’s how to ensure your outreach emails don’t get lost in an inbox abyss:

• Keep your emails short and sweet
• Use catchy, must-click subject lines
• Highlight audience data and key value points
• Include a prompt to connect in every email
• And, of course, avoid getting your communications caught in spam filters

“It typically takes eight to 10 [outreach] touches before someone will respond,” Larry says.

He suggests planning for additional follow-ups and encourages event professionals to give folks a ring. Sometimes a phone call can add a personal touch that’s difficult to ignore. And don’t forget to leave a voicemail as an extra reminder to connect.

Once potential sponsors see you as an ally who will help them solve their problems, they’ll be eager to hear what you have to say. But first, you have to get their attention.

Start with a one-page proposal

The most recent research from 2006 suggests consumers were exposed to 5,000 marketing messages a day. Today, many digital experts agree this number may be closer to 10,000.

One way to cut through all the clutter and grab your recipients’ attention? Less is more according to our experts.

“People often put everything they can think of in the initial outreach and proposal because they’re concerned that whatever they leave out would have closed the deal,” Larry says. “When in fact, the opposite is true.”

So instead of throwing everything at the wall to see what sticks, consider creating a one-sheeter to send along to prospective sponsors. This is a document that brings your audience data to life in the form of infographics or other graphical designs.

“Keep it simple,” Chris suggests. “Outline your audience, include a mini case study showing how you helped brands achieve their goals, and always have a very strong call to action.”

Outbound outreach is a numbers game. But focusing on your in-depth event audience understanding can help you get potential event sponsors on the line.

Elevate your event sponsorship proposal

Once you’ve captured the interest of a potential sponsor and scheduled a discovery call to discuss their objectives, customize your event sponsorship proposal around their needs to help you seal the deal.

Both Larry and Chris suggest using your event sponsorship proposal as a way to bridge the gap between where your potential sponsor’s brand is now and where they want it to be.

“Don’t send sponsors a 50-page deck including everything under the sun because they’re just not going to go through it,” Larry says “And, you don’t want to lose them. Instead, create a library of slides you can customize for each individual sponsor.”

Knowing what your event audience and your sponsors want — along with how your event will help them achieve it — is the first step to earning a reputation that sends potential sponsors flocking to be part of your event.

Drive inbound sponsorship interest

If you are finding sponsors for the first time, you’ll likely need to go through an outbound-heavy sales process. But, what if you could turn the tables?

“It’s hard to argue that doing cold outreach and sales doesn’t kind of suck,” Chris says. “Instead of cold calling sponsors, aim to find ways to attract them and to make your phone ring.”

According to Chris, you can make life easier by learning how to get sponsors to come to you. Here are a few ways to help you get sponsors to initiate contact with you –– all because they want in on the action:

• Share the success of your event’s sponsorship activations
• Seek to proactively publicize your event’s success
• Assert yourself as an event industry thought leader

As you start to turn heads, think about turning the sponsorship packages on your event website into an inbound conversion tool.

By proactively promoting your event you can start to rely less on outbound selling and instead, let event sponsors come to you. Not to mention, it’s a lot easier to sell people on something they’re already interested in purchasing.

Originally posted on The Sponsorship Guy