Getting Corporate Sponsorship

There are many events that are extremely costly to be paid by one person or company but promises great financial rewards and success once well organized. As a result many companies are approached to help fund the venture to ease the financial burden off an individual’s or company’s pocket; this move is known as sponsorship. Simple Events Planning uses a ten (10) step plan that guides to achieve the desired sponsorship success for their customers.

1.      Plan the event with Sponsors in Mind

During the initial stage of planning, after first draft budget recognizing there is a need to ease the financial burden is important. With that in mind, understanding sponsorship is a form of brand advertising gives a clearer picture on what companies this event wants to be associated with. The association is very important as naming companies or displaying corporate logos are done by the media which advertises the event.

2.         Identifying Assets

Identifying the potential places a sponsor might be able to advertise their brand name or logo at the venue is the next step. Such advertising can be done in different forms, banners at the entrance, back of seats, booths on site or even t-shirts. Imagining all this should be done with the intension the sponsor can meet their marketing needs. To further help them achieve this, having intensions to issue exclusive back stage passes, allocating places where product sampling can take place or have product be displayed. After these has been identified, keeping track of such through documentation is important as it comes in handy.

3.     Count the Impressions

Corporate sponsorship is a form of advertising. Therefore advertising efficiently is important as there is value in the number of impressions received. There are companies that has such good reputations, consumers are willing to spend their money once that company is associated with anything.  Measuring ads for the event can help convince companies that their association with the event increases their marketing shares.

4      Evaluate Your Assets

Once statistics has been analyzed for each advertising medium, a price can then be attached. This can be done for example 10,000 people attend the event, each logo they see will be worth about $100. The price can however be adjusted however based on number of times each person sees the ad and prominence of the company’s logo.

5.     Package the Assets

Bundling assets into packages for sponsors at incremental amounts is a persuasive tactic. Bundles such as $5,000, $15,000 or $20,000. Bundling to help maximize sponsorship can be done according to location of venue, parts of program or other ways; to name sponsors can be special bundles.

Question: Should corporate sponsorship be used as strategy to eliminate financial burden for large events? 

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