Finding a sponsor is like searching for a job. Recruiters will appreciate some of your proposals while some proposals will be rejected. Sponsorship brings value to an event. It is a strategic partnership that offers monetary support for the organizers and exposes sponsors’ products and services. As technology is progressing rapidly, endless opportunities are arising for organizers, sponsors, and attendees to interact virtually. Sponsors have moved on from wanting only exposure and hospitality bonuses to finding interactive ways to connect with their attendees to grow their brand.
First, let’s ponder the question, do you need a sponsor?
Sponsors raise funds and provide an opportunity to build brand awareness, increase sales numbers, and improve the overall brand image. There are some reasons why big and small events need one or many sponsors. Virtex provides a safe and successful way of organizing an event and provides various tools to attract sponsors. Follow the below techniques of gaining sponsors for your virtual event.
- Know your platform:
Knowing your virtual event platform in and out can be an enormous selling opportunity for sponsorships. An event organizer can leverage the tools and features built-in on the platform to get the desired sponsors. Finding people aligning with your event’s core values is half the work done. Targeting people and their companies who sponsor similar events and activities to yours will save you both time and energy.
- Whom to approach?
Carry out a detailed research about the type of organizations you want to approach. You can also make use of other people’s research to gain an advantage. Keep an eye out for organizations that support events similar to yours. If you’re searching for a sponsor for your technology event, for example, check out previous technology events and who sponsored them.
Before approaching the firm, consider the requirements of the company. Find out why they’d be interested in sponsoring your event. You’ll be able to provide them with a better service if you keep this in mind.
- Understanding sponsorship levels:
Every big/ small event has a different level of sponsorships like media, financial and promotional, which you must understand. Make a budget and a list of what you expect from your sponsors if you haven’t already. Make a list of the things that will be happening at your event. Know what each level has to offer and what you expect from sponsors. So, attract your sponsors appropriately and inform them what’s in it for them.
- Create a list of potential sponsors:
Having a long list of possible sponsors based on your event is a bright idea. However, you can create a long list of sponsors, but you wouldn’t visit every business and speak with every employee. Isn’t it exhausting? As a result, make a list of potential sponsors who would be willing to support your event in person. In addition, there are several levels of sponsorship, so make sure you categorize your sponsors accordingly.
- Perfect sponsorship proposal:
Ensure you double-check your sponsorship proposal ideas. It can either make or break the deal of getting sponsored. Explain to sponsors what you have got to offer and what benefits they stand to gain with an insightful story and presentation of the proposal. If both the sponsor and the organizer are on the same page, the prospects of a win-win situation are more significant than ever.
- Be creative:
Sponsorship is more than just sticking a logo on everything. While your sponsorship contract may include the use of symbols, if that’s all you have to offer, you really can’t ask that much in return. Discover new ideas and provide more than just logos like sponsoring breakout rooms, waiting lobbies, swag bags, and entertainment sessions.
- Use event analytics:
Companies love using analytics to track attendees and their level of engagement. Send your sponsors a detailed report on the number of visits to your website, demographics, and other data. Explain to them what type of technology you are using on your webinar platform and measure the event performance. This will come in handy to get the support of the sponsors.
- Think long term:
While looking out for sponsors, make sure you ink the deal to collaborate on multiple events and not just one event. Also, decide how much money you want from supporters. Asking for a relatively small amount is a big no. If you’re looking for low-key sponsorship, it might not even be worth their time.
- Follow up:
Getting the cheque from the sponsor is not completing the job, but ensuring regular contact and messages will make sponsors think that they are valued and updated about the current promises of what you made about the event.
These are some of the many ways to get the perfect sponsors. Your virtual platform will provide many opportunities to generate returns on your money through sponsorships. All you need is the power to persuade, onboard sponsors, and make your virtual event a grand success.