Organizing an event is not easy. From stage setup and decoration to catering and entertainment, it is a demanding task that involves a lot of planning and patience. However, the most challenging aspect of executing a phenomenal event lies in the herculean task of funding it. This is particularly taxing in the case of startups that have all the potential of executing a spectacular event but do not have the prior experience or reputation to back them up. Read on to get a closer insight on how to approach sponsors and convince them to fund your event.
Have a stellar proposal
Your proposal is the fundamental ingredient which will either make or break your rendezvous with potential sponsors. Put yourself in your client’s shoes and contemplate if you would be pleased with the benefits provided to you while funding the event. Present your client with a plethora of deliverables which are hard to resist. At the same time, make sure you quote a practical amount of capital in exchange, and explain how the deliverables offered weigh up to the expected funding.
Break the ice
While approaching sponsors, it is important to create an emotional bond with them for a psychological connection. After all, they need to know you and trust you enough to invest their money in you. Speak about your organisation, the obstacles you faced to reach where you are, and the main objective of your company for your sponsors to understand your professional background. Let them know the target audience you are aiming to influence with their brand. Show them the various methods you will be using to execute the event. Give them assurance by creating events on reputed platforms like Howdydo, for profound reach. Let them know about your previous achievements and showcase positive customer feedback, so they know their money is going into safe hands.
It is important to have a flawless marketing team with the perfect knack of convincing potential sponsors. It is all in the way you approach your clients. Speak confidently and be assuring enough for them to think you are worthy of every penny they are investing.
Collaborate with the giants
If you are a start-up, collaborating with bigger brands from the same industry is a great way to show some big names when you approach a sponsor for funds. This provides a sense of reassurance that you have the potential of organizing a successful event which they can benefit from. However, make sure the brands you partner with are not a direct competition as this can be very confusing. Work towards a joint venture that will be advantageous for both of you. For example, if you are a leather company, you can partner with a reputed brand of handbags or other leather accessories. Being associated with big brands is a foolproof marketing strategy which is guaranteed to influence your sponsors’ decision.
Work on a barter system
Show your sponsors that it is safe to invest in you. No matter how much you speak about your services and the benefits your client will gain from sponsoring the event, investing a high amount is synonymous to higher risks. Instead of quoting a substantial number, focus on exchanging services. For example, if you are organizing a concert, you can approach a reputed airline with a proposal of them providing air tickets to fly down the singers. In exchange for their services, you can provide them with poster and banner branding.
Additionally, it always helps to approach multiple sponsors for smaller amounts and services instead of consulting just a handful to splurge on you. Remember, it all comes down to business. You need to strike the right deal for them to get convinced and invest in a budding lifelong partnership.