Sponsorship or Donation – Your Event IS a Media
Selling sponsorships is easy. Sure. Have you ever felt like you were going “back to the well” just one time too many? Do you feel like the same companies just keep on giving and giving? You are not alone. If you use words like support and donation when you are offering sponsorships to your events then those are pretty natural feelings.
Here’s a different way of thinking about sponsorship: Your event is a form of media just like a newspaper, radio station, magazine or television network or even direct mail. But yours is even better.
Here is an example. Suppose you have a bank as an Associate member. Banks use all of the media I mentioned above on a regular basis. They spend thousands using a “shotgun” approach by advertising to “mass audiences” hoping that someone in that “mass audience” has an interest in what they are offering. After the ad runs the bank has no way of knowing specifically who even saw it unless someone walks in and mentions it.
Let’s take look at your event sponsorship as a form of media. What audience can you deliver? Other media deliver audiences, so do you?
If your event is a Trade Show you deliver a specific, targeted measurable audience. They might be middle income, 50% male, 50% female, average age of around 42 (guessing). If you get 3000 attendees plus the exhibitors then your media is delivering an audience of 3000+ specific individuals. In addition by including your sponsors in your own marketing and promotion you are giving them “credibility by association” with potentially thousands more people. If you have collected names and addresses through a drawing or contest at your event, you can even hand your sponsor a specific list to follow up with. See if a newspaper, radio station or television network can or will give you a specific list by address of listeners, watchers or readers. It won’t happen.
Once you understand the audience your event (media) offers and the different ways companies can use your event as another form media the words support and donation can go away. You have the carrot! There are hundreds of companies looking for alternatives to traditional advertising that can’t be measured and is getting them the results they want.
Here’s a simple process that you can follow:
1.) Make a list of your events. Include EXPO’s Home Shows, Tour of Homes, Golf Tournaments or Outings, Membership Meetings, Annual Banquets and any others you can think of.
2.) Define in general terms the type of audiences that attend. Each event draws a different audience. You don’t have to be ultra specific. For example, your Annual Banquet may draw 250 of the “most powerful, successful and influential” business people in the community. That’s a pretty valuable audience for the right company.
3.) Make a list of types of companies (not specific names) that would benefit from reaching the audiences you have defined.
4.) Now look at your membership list and see what companies match up with which audiences the best. Now you have a list of companies to “offer your media”.
5.) Set your sponsorship values carefully. Usually, when we are asked to evaluate a sponsorship plan the value far exceeds the price. Remember, when pricing your sponsorships compare yourself to other media. Do not base your pricing on how much of a “donation” you think you can get.
Your event is a powerful and effective marketing tool. If you treat it like the valuable asset it is getting sponsors will be easy and even fun.