Superpowered Sponsorships

The U.S. Bank Brady Street Pet Parade - U.S. Bank has been title sponsor for this event for the past three years

Behind the scenes of every amazing event there’s someone busting their butt to make sure the budget numbers work. One of the best ways organizations can profit from their events is from sponsorships. In recent years, especially in the sporting industry, sponsorships have been increasing. If the budget numbers don’t shake out, have you just wasted time, energy, and resources? Not necessarily given the various reasons people host events. Let’s cover that issue in depth in another blog post.

IT’S SPONSOR TIME

For many organizations including nonprofits, budgets are completed by October for the following year. This means that immediately following the complete chaos of outdoor events season, it’s time to shift your energy into adding in more sponsors for next year’s events. What is the best way to form a successful partnership?

For me, personally, growing with my sponsors is one of the most fulfilling aspects of event production. Truly, the work of finding and working with new sponsors could be a full-time position. After all, sponsorship isn’t just about logo placement anymore! It’s about getting as creative as possible to craft a partnership that benefits both parties.

THE APPROACH

Begin by asking them what they are looking for from sponsoring your event. Companies participate in sponsorships for various reasons. Some are strictly looking for a return on their investment, they are looking for metrics such as increased engagement on social media. Some may want to get a specific product or message about their cause out to your event attendees. Others want to stand out from competitors, and others may just want to be a part of the amazing event that you produce. They want to see their name on that event in some way, shape or form. Maybe this is to show community pride.

Next, research how they normally engage in sponsorship, and find out if they have felt that their involvement has been successful. Never simply send a “sponsorship package” if you weren’t asked to; you need to get to know your partners! Take the time to learn about the company and what they are trying to accomplish. Be willing to connect on a personal level to discover how you can help each other out. Stop talking and listen! Be flexible, humble, creative, and patient.

THEY SAID “NO!?”

Don’t lose hope when you get the dreaded “no.” If any of you has seen the movie Tommy Boy, you know that this is one of the most important aspects of working on a deal. Sponsorships are not short-term one-time deals. They are, if you manage them correctly, long term relationships that have the potential to grow year after year. Just because a company says no the first time does not mean that they won’t need you in the future. Invite potential sponsors to your event so they can witness firsthand the success they could achieve in partnering with you. I have secured several sponsorships in this way. I also have some sponsors that I have been working with for 10 years!

This article just touches the surface of the power of sponsorships. Everything in the sponsorship world is flexible so you should be as well. Encourage your partners to customize and help them think outside the box. This is how they tell you what they want and how they measure success. Always deliver everything you said you would and more. Be grateful and continue to make sure you are staying front of mind with all of your sponsors, past, present and potentially future!