So, your organization has an event to plan. From the speakers to the food, you cannot even begin to think where to start. On top of deciding on the date and event space, you’d like to have a sponsor to help support and promote your business. How do you do that? Where do you begin? Don’t worry! We have the perfect breakdown on how to select the right sponsor that best suits your vision. Here are 5 easy steps to putting together the perfect sponsorship package:
Step 1 – Identify what you have to offer
Before you can put together the perfect sponsorship package, you must first identify what you have to offer a potential sponsor. This can be broken down into four unique categories:
- Personal Contribution - Identify the value that you add to a potential sponsor. This could include press releases, internal and external marketing efforts, visibility, brand recognition, vendor relationships, etc.
- Target Audience - Make sure you have a sound understanding of target audience and identify how they appeal to your potential sponsors.
- Marketing Initiatives - Identify specific marketing efforts that will be going into the event and highlight the value these initiatives will provide to the sponsor.
- Total Value to Sponsor - How will a sponsorship improve the sponsor’s business. This could be increased sales, vendor relations, customer exposure, etc.
Step 2 – Research target sponsors
Understanding your audience is essential to creating the perfect sponsorship package. Identify your sponsor’s specific needs and build your sponsorship package around those needs. Send out a questionnaire to all potential sponsors and ask for feedback on their marketing agenda and sales goals. Create a wishlist and allow your sponsors to input their personal preferences.
Step 3 – Identify the sponsor’s marketing objectives
Now that you have built trust and rapport with your potential sponsors, identify their marketing objectives and work together to create packages that will meet their organizational needs. Some examples of marketing objectives below.
- Increase sales in a specific region, vertical or timeframe
- Increase customer loyalty and bounce-back opportunities through social channels
- Grow brand awareness within a specific demographic
Once you have identified your marketing objectives, establish qualitative and quantitative measurements for success.
Step 4 – Create measurements for success
- Quantitative - Define a measurable metric of success. An exact amount of leads, sales, introductions, social media exposure, etc
- Qualitative - These metrics can be focused around brand awareness, education, customer retention, etc.
Step 5 – Explore the available options
Now that we have identified what is available to offer, researched your sponsors, established marketing objectives, and created measurements for success, you are ready to create the perfect sponsorship package. With this information, you will be able to identify all available options and implement them to perfection!
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