Hosting a major corporate event isn’t cheap. You’re typically required to pay for the venue, transportation, hotel rooms, food and beverage, and entertainment, in addition to the regular pay of employees. Thankfully, you can often recoup some of these costs by selling sponsorship packages. To learn more about corporate event sponsors and how to negotiate the best deal for your next event, keep reading.
What Is a Sponsor?
A sponsor – when used in the context of corporate events – is exactly what it sounds like: a company, organization or person that pays for certain “perks” at the event. This perks usually include limited advertising and branding privileges, such as the ability to display a banner, set up a booth, or include their name on the itinerary.
Identify Your Audience
The first step in attracting sponsors is to identify your target audience. Ask yourself: who would be interesting in advertising at my event? If your company sells nutrition supplements, for instance, then perhaps you can connect with local doctors, massage therapists, acupuncturists, etc. The added exposure at your event will likely yield new customers and professional connections for these service providers. The key thing to remember is that you want to avoid sponsors who are direct competitors with your business.
Get Out The Phone
After identifying the target audience for your event sponsorship, you should start making phone calls to local businesses. As with most cold-calling, you’ll have a very short window of time to tell the person on the other end of the phone who you are and why they should purchase a sponsorship at your event. It’s not a bad idea to create a template before you start calling, with something along the lines of “Hi, my name is so and so from company X. We have an upcoming event that would benefit your business.”
Create Multi-Level Packages
Rather than selling a single “universal” sponsorship package, create several different ones with varying prices and perks. A level 1 package may allow companies to display their name and logo on the literary, whereas a level 2 package allows them to display their banner, and a level 3 package allows them to set up a booth. This type of multi-level sponsorship format encourages companies to spend more money so they can reap the benefits of additional perks.
