Organizing an event can be an extremely costly initiative; the more people and the more complex a schedule, the more costs tend to increase. That’s exactly why many companies and individuals reach out to others in hopes of them financing part of the costs in exchange for exposure and a chance to increase the brand’s awareness. However, with the increasing number of businesses getting involved in event management, the number of events in need of sponsorship is also increasing.
That’s precisely why in today’s world, where the competition between businesses to successfully obtainevent sponsorship is higher than ever, building a great sponsorship proposal that will make you stand out from the others is a must-have. In this article, we will talk about what a sponsorship proposal is, how to write one as well as give you some tips to improve it even further.
What Is Event Sponsorship?
Event sponsorship is where a company or an organization provides an event with financial assistance in exchange for something – in the majority of cases: exposure. The financial assistance can come in the form of cash, but it can also involve exchange of products or services.
Why Is Event Sponsorship Useful?
Now, you might be wondering – Why is event sponsorship important? Well, there are a few reasons for that. The first is pretty obvious: money. Events, whether they are in-person or virtual, can be expensive to organize, and more often than not, selling tickets is simply not enough to see profit from it – especially since you probably want to keep the prices affordable, so that more people can attend it. By having another company sponsor an event, you decrease your direct out-of-pocket costs.
Another reason why event sponsorship is gaining popularity is credibility. If there are two events happening at the same time that are about the same thing, but one is sponsored by a big corporation and the other is not, people are most likely going to choose the one which is backed up by the large company, as they will unconsciously consider it better. Also, if a customer of your potential sponsors sees your event on the sponsor’s social media, they might decide to attend it solely based on the fact that that particular person or company is involved in it.
What Should Be Included in an Event Sponsorship Proposal?
Generally speaking, most event sponsorship proposals are very similar, in the sense that they are structured in a To be convincing, a sponsorship proposal needs to include a few key elements. Those are:
- event summary – When writing an event sponsorship proposal, you should include a summary of the goal of the event, how the event will look, what you have planned, the location, the approximate duration, and everything you think they should know about your event so that the prospective sponsors can make an informed decision on whether you would be good partners.
- audience demographics data – This includes information such as who your primary target group is at your event, as well as how many participants there were at your previous events. Generally speaking, the more detailed information about your audience, and how it appeals to the sponsor, the better.
- past experience – If you have organized similar events in the past, showing your experience to the potential sponsors is positive, especially if the events went well and you have data to back it up.
- process outline – This is very similar to what you do when writing a business plan. Show how you will realistically execute your plan.
- sponsor’s contribution – Outside of unding, is there anything else do you want the sponsor to be involved in? For example, having their CEO speak at a session, or having their organization host a party?
- benefits that the event will bring to the sponsor – Someone is unlikely to fund an event if it doesn’t bring any benefit to them, so make sure that you clearly present what the prospective sponsors will get out of it. However, make sure that what you are proposing is actually realistic; back up your statements with data.
- branding elements – Commonly known as “sponsorship packages.”n this section, list what elements of the event will be used to promote the sponsor’s business. (e.g Will there be flyers? Will you have a booth dedicated to the sponsor’s company? Where will the sponsor’s logo be included in the promotional materials?)
Event Sponsorship Proposal Template
Below, you will find a simple event sponsorship template that you might find useful. Of course, this is just the outline, so you’ll have to add quite a bit from yourself, but if you don’t have any idea about how to proceed, even having an outline can be significant.
Page 1: It’s important to make the first page of the sponsorship proposal eye-catching, but without overdoing it. You should add things like your name, the sponsors’ name, the date, etc. You can also add an image if you feel like it will be suitable.
Page 2: On this page, you should include information about your even why it matters, how it will look, target audience and whatever else you think the sponsor considering funding your event should know about it. Don’t make it difficult to know the basics of your event.
Page 3: The third page of your sponsorship proposal should have information about how funding your event can benfit the potential sponsor.
Page 4: This page could include information about who will be working on the event from your side and what their responsibilities are. Use this page to convince the potential sponsor that they can trust them. Include contact information, such as the team members’ business phone numbers and email addresses. You can also add pictures if you wish to humanize and personalize your team. If the team members have experience in organizing events, add such experience to build further trust.
Page 5: The fifth page of the event proposal should be dedicated to sponsorship packages – especially if you decide to organize a few different levels or tiers.
Page 6: The next page of the proposal should include information about how the sponsor will be represented throughout the event – before, during, and after – both online and offline. The more clarity, the better.
Page 7 and more: These pages should be dedicated to a sponsorship contract, reviewed by a professional. It should include all the important dates and deadlines.
Last page: The last page should have a dedicated space for the potential sponsor to sign. You can also include a thank you at the end.
What to Avoid When Writing an Event Sponsorship Proposal
If you don’t have much experience, writing a winning event sponsorship proposal can be a challenge, as there are plenty of simple mistakes that be easy to miss, but can be a deciding factor in potential sponsors rejecting your event sponsorship proposal. That can be a quick loss of thousands of dollars. Here are some of them to avoid.
Providing Not-Sponsor Focused Information
Many people make the mistake of not making their proposals tailored to sponsors. It’s crucial to recognize that the way you present your event to people who will attend is not the same as when you present it to potential sponsors, especially since those two groups are focused on two completely different aspects of your event – while attendees are more concerned about what they can expect to see when they attend it, the sponsors are more interested in why it is your event that they should provide financial aid to and what they can get from it.
Lack of Information
This mistake, in particular, is often made when describing sponsorship packages – as we have already mentioned, prospective sponsors are mostly interested in what they will gain from funding your event – so, instead of going into heavy details about the event itself, it is more important to focus on things that can be a deal-breaker for someone reading an event sponsorships proposal, such as the sponsorship packages.
If you want to go into detail about something, do it to the sections that potential sponsors will be looking at the most. This way, they will see that you know what you’re talking about. It might also make you look more reliable and trustworthy in their eyes.
No Information About the Target Audience
Sponsors are business people, which means that they want to see profit They’re not going to get into something that doesn’t look beneficial to them. For this reason, you should always include information about what is the target audience of both your brand and the event you are hosting.
For example, if the potential sponsor’s target audience are women in their 20s and 30s, and yours are men aged between 30 and 50, the chances of the event generating ROI or ROO for them are pretty slim. However, if your event targets teenage girls and women up till the age of 30, then the chances of it generating quite a bit of return on investment are actually realistic in this hypothetical situation.
If an event organizer is not able to provide such details, the potential sponsor will most likely reject the sponsorship proposal. It is not the responsibility of the sponsor to do the work on how your event could benefit them; that’s on your plate.
Weak Follow-Up
This is not a mistake that is made in the sponsorship proposal, but rather after the proposal meeting is done. Depending on how big the sponsorship is, it might take weeks or even months for the deal to be closed. That’s why the event organizer should focus on establishing good relations with the potential sponsor, especially once the first meeting is done. Don’t make it easy for them to forget about you.
The Bottom Line
Event sponsorship is becoming more and more popular these days. A lot has to do with the fact that in order to be successful, companies need to stand out from the crowd, and organizing events that help them engage their target audience is one of the ways in which they can do it.
However, such events can be very expensive, which is why many companies decide to ask others for sponsorship . To make it easier, provide them with a good event sponsorship proposal. After reading the above, you’re well on your way with best practices to do and also ones to avoid. While doing it for the first time might seem like a near impossible challenge, but after you’ve done it a few times, it should get easier each timen.
And, if you’re organizing an event in the future, make sure to check out our event management software, as it will definitely make the whole process a lot easier. Break a leg.