A Planner’s Guide to Event Sponsorship in 2024

Landing sponsors can absolutely elevate your next event. This is most likely why 90% of planners prioritize securing sponsors! But finding the right sponsors and approaching them confidently can be a daunting task for many.

But it doesn’t have to be. Keep reading to learn how to attract event sponsors in 2024 to ensure your event’s success.

Table of Contents

What is Event Sponsorship?

Event sponsorship is simply a partnership between your organization and another brand, corporation or nonprofit. In exchange for a monetary contribution to help you offset costs, drive more attendees and boost your organization’s profile, you offer the sponsor a few perks such as:

Including their name and logo on promotional materials
Exposure to a new audience
Providing a competitive edge
Showcasing social responsibility

It’s a classic win/win!

5 Benefits of Event Sponsorship

Attracting sponsors to your event offers numerous benefits:

A Bigger Budget

Having an event sponsor means another revenue stream at your disposal that can greatly impact the success of your event.

In-Kind Support

While monetary support is beneficial, it’s not the only support your event can gain from sponsors. An organization can provide in-kind donations to help you offset the costs of other line items. If there are gaps in your in-house expertise or executive items you’d love access to, an in-kind donation may be just what you’re looking for.

Valuable and Lasting Partnerships

The most successful sponsorships are the ones where you’re partnered with companies that share your values and mission. Putting the time in now to find these diamonds and nurturing relationships means future mutually beneficial collaborations.

Adds Credibility

By partnering with a well-known company, your event and organization gains almost instant credibility. This is because by agreeing to sponsor your event, this company is publicly vouching for you.

A Wider Reach

Partnering with a sponsor who has given your event their seal of approval is a great way to get in front of an entirely new audience. You’ll get your message in front of their partners and customers, widening your reach.

How to Find and Attract Event Sponsors in 2024

Now that we know what event sponsorship is and the numerous benefits, let’s discover some of the best ways to find and attract sponsors to your event.

Look in Your Own Backyard

Don’t make finding an event sponsor harder than it needs to be. You’d be surprised at some of the opportunities right within your own network. So make a list of people you feel may be a good fit and are looking for a mutually beneficial partnership and reach out to them. Start here.

Leverage Research Tools

If your own network hasn’t unearthed any ideal matches, it’s time to use some of the many research tools out there. Digital tools like SponsorPark, SponEasy, SponsorMyEvent, OpenSponsorship, and Sponsorpitch can help you find brands that want to reach your audience.

You can also research related events in your industry and reach out to past sponsors, research brands that align with your company’s mission and values, and survey your own audience to get their input.

Contact the Right Person

Don’t waste your time, energy or resources trying to connect with someone who ultimately has no authority when it comes to making financial decisions. Do your research and find out the best contact within the company. Typically it is someone working in the marketing department.

Tell, Don’t Ask

Once you have a list of potential sponsors, it’s time to begin contacting them. The first rule when approaching sponsors is to never ASK for sponsorship but rather focus on showing them what THEY’LL get by partnering with you. Highlight things like:

Past successes and impact stories
Sponsor incentives such as:

Branded videos
Social media content
Event swag and goodies

Return on investment (ROI)

Visibility
Reach
Engagement

Create an Attractive Sponsorship Package

When you sit down to create your sponsorship package, get creative and be succinct. You only want to include information that is crucial to make a decision. Focus on your prospective sponsor’s interest, budget and needs and try to have an answer for any argument or “no” they come up with.

Inject a Little Fomo into Sponsorship Requests

Human beings all share one thing in common: we are motivated by scarcity and urgency. This is why advertisers always use calls to action like, “Act now while supplies last.”

In our experience, when you want to lock up sponsors well in advance, use a sense of urgency when offering your packages. Time-bound benefits definitely encourage companies to be quick and diligent in their decision-making.

For instance, you might offer marketing benefits that will expire if the package is not purchased by a specific date. This works exceptionally well for higher-level sponsorships.

You may also want to leverage the venue itself and tell prospective sponsors that the venue has limited space and offer packages on a first-come, first-served basis.

Incentivize Return Sponsors

Just like it’s more effective to sell to existing customers than prospecting new ones, the same can be said for going after sponsorships. Always give return sponsors the first right of refusal and give them a reason to sign on again. Offer a discount by signing on by a certain date. Continue to nurture the relationship so they come back year after year.

The Wrap

By understanding your target sponsors’ needs and crafting a compelling proposal that highlights the value you offer, you can turn sponsor acquisition from a stressful task into a strategic partnership. Remember, it’s about building a win-win scenario.

Take the first step towards a successful event and get in touch with us today! We’re here to help you with every aspect of event planning, from sponsorship acquisition to logistics and execution. Let’s make your next event truly unforgettable.