Getting Corporate Sponsorship

As indicated in the previous post, there are ten steps that simple events follows to ensure their customers receive the desired corporate sponsorship to help make their event a success. The first part of the post only names five (5); below explains from six (6) to ten (10), the remaining five of the ten.

6.     Write a Proposal

To catch the company’s attention, writing a proposal is the best shot; highlighting the impressions.  In that proposal, indicate the type of people participating in the event, what are the marketing opportunities available and sponsorship opportunities. To ensure this is successful however, tailoring the proposal to the company increases the chances of receiving the sponsorship.

7.     Research Prospects

Companies with large local advertising budgets are likely the companies that would be interested in sponsoring an event. Therefore before sending out these proposals, research companies that sponsor events; they might be interested in sponsoring more than one. To narrow down the search, look at companies with generally large profits, spending, companies trying to increase their market share, maintain good community relations or new companies trying to establish their brand.  This research can be done through government directories, media or company websites.

8.     Seek Discovery Session

When the list of potential sponsors has been developed, call each company and inquire who are the person/persons responsible for purchasing sponsorships. After this information has been received, send the event proposal for their viewing.  Thereafter follow up to ensure it has been received, also requesting a meeting to discuss what are the benefits to the potential sponsor. Discuss in the meeting the likely media attention, what access there is to a certain group of people, where they can take their clients; sponsorship activation which is additional benefits from the sponsorship.

9.     Negotiate Agreement

After the sponsor determines the best package available for their company, put it in writing in a more detailed manner than the initial proposal. The details of this would include terms of payment, benefits to attendees, logo specifications, payment of logo signage and whatever else details that are necessary from the sponsoring company. For sponsorships where naming the sponsor at the event, their contract should be much more detailed than the other contacts. If both parties want to ensure they are not cheated out of anything, legal advice can be sort.

10.   Fulfillment and Follow-up

If your sponsorship attends your event, ensure they are given VIP treatment. After the event, ensure each sponsor is supplied with evidence that you fulfilled your commitment to the contract. This can be done through the media, photos, videos and sending it to the sponsorship in an electronic format for the sponsor to see the success and impressions generated as estimated in the proposal. To ensure renewal of sponsorship the following year if the event is an annual event, meet with sponsors to review fulfillment; not forgetting to also send thank you letters for their corporation. 

Question: Do you think it is necessary to go through all ten (10) steps to successfully acquire a sponsorship?