This post was originally published on the Eventbrite blog. Read the original post here.
Sponsorship can mean the difference between turning a profit — or a financial disaster.
Imagine you didn’t win over the sponsors you needed for your festival or event, so you’re left footing the bill for items your sponsors would have covered. You’re then forced to provide a subpar experience because your budget is tight. Then, attendees (and the press) condemn you on social media.
Don’t let that happen to you. Find out how to get into the heads of sponsors — and create relationships that are long lasting and mutually beneficial.
Download this ebook to learn how to:
- Better vet sponsors to ensure they’re a good fit for your event
- Effectively prove your value proposition
- Retain your most valuable sponsors, instead of starting from scratch with every event
Finding Your Sponsors
In a saturated market, events are looking for new ways to stand out. The right sponsors can be a major draw for your attendees, and can actually be the deciding factor for attendees on whether they click “Buy” — or if they pass you by. That means in the near future, brand partnerships could be the difference between building a sustainable business — or stalled ticket sales.
But some brands might already be in multi-year contracts. Some brands might be more interested in your competitor (or already sponsoring them). Some brands might not be the right fit for your audience. So how to do you find the right sponsors for your brand? First things first: Do your homework.
Making Potential Sponsors Fall in Love With You
Whether you’re a pop-up bridal show or a multi-day car show, the key to winning the right sponsors is proving your value.
“If there’s one thing I would underscore, it’s that every sponsorship should be approached as a collaboration, a partnership based on customized goals and execution” says John Riccardi, Strategic Account Manager at Eventbrite. Now on the music team at Eventbrite, Riccardi previously managed sponsorships for various large-scale promoters and festivals.
Want your sponsors to see you as a true partner? Here’s how.
Mistakes to Avoid
Sponsors talk — so if you damage one relationship, you’ll damage them all. Here are four mistakes to avoid to make sure you don’t become a sponsorship pariah. Share this list with anyone on your team who interacts with sponsors.
Managing Your Relationship With Your Sponsor
According to IEG, nearly six out of 10 sponsors are looking for an early exit to at least one of their sponsors. To make sure you’re not one of them, you need to continually maintain that relationship — and prove your worth.
For more details, please contact me.
Larry Weil is a nationally recognized sponsorship expert and thought leader with over $200 million in deals to his credit. TheSponsorshipGuy.com is the leading sponsorship marketing agency for Virtual and Destination Events. Media outlets, large corporations, and entrepreneurs all seek out his insights and opinions, which have been published in print, digital and broadcast.