The Trouble with Sponsorship
The most common question I’m asked by emerging event planners is: why are sponsors so hard to find? My answer is simple (and hopefully helpful): Sponsors are hard to find when there’s no relationship in place. If the right relationship has been established then the ask should be tailored and simple.
There’s only two reasons to pursue sponsorship: 1) the need for revenue, and 2) the need for an audience. A sponsorship “ask” implies that an organization wants to, or needs to, share their hard earned money or promote your event in tow with their brand to their invaluable customer base. If there’s a solid relationship between the event, its organizer(s), and the participants then all you have to do is make sure you’re customizing the sponsor “ask” to meet their business needs (and hopefully make a dent in your budget). That’s not hard if you understand their business and how they make their spending decisions.
Most event “people” apply a marketing approach to the task of securing event sponsors; that it somehow comes down to the complex strategies of brand positioning, demographics, market share, advertising impressions and fiscal benefits. The adage is that by creating great promotional value you’ll have an easier job finding sponsors. It’s all a silly exercise without a relationship. Yes, great marketing value is key but money will never change hands without an unbelievable amount of trust. I recommend event planners do what they can to lower their clients’ expectations around sponsors on the short-term but build and execute a plan that builds relationships over time. Instead of making a big “ask” this time around send a big “invite” (the wine-n-dine kind) and make sure that potential sponsor has an amazing time at your event then start with a detailed follow-up plan in preparation for next time.
As well, an event professional can not forget that the days of cash sponsorship are fading away among small and medium sized events and that gifts in-kind, or cross-promotional connections, are making up a big piece of the emerging sponsorship pie. Event planners need to embrace this. Now for a few rants: Please stop with all the medal levels. If you have to keep Platinum and Gold so be it… but please don’t create endless tiers. I don’t believe corporate sponsors get excited about holding lower levels, being trumped by the big boys communicates inferiority – that kind of ranking doesn’t show how valuable their relationship may in fact be. As well don’t create a stack of logos on your collateral – that doesn’t communicate value or strategic partnerships… it’s simply brand noise and marketing people HATE it.
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