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Why Do Brands Sponsor Events?
Events are costly to organise and often it is not practical for entry fees alone to cover expenses and still turn a profit for the organiser. As a result, securing sponsorships become crucial, but finding a corporate to support your event is rarely easy.
The reality is that brands will only sponsor an event if there is clear value in it for them.
So what will make a sponsors choose your event? Eventeny.com states that there are four main reasons sponsors will partner with an event:
1. To expand their reach
Brands that seek to connect and gain trust and credibility with a potential new market, are more likely to partner with a reputable event that gives them access to these new consumers.
2. Increased sales and leads
In nearly all cases a sponsor wants to promote their products or services and engage with potential customers by supporting a good event.
3. Connect with target groups
Brands that want to connect with a specific customer base will partner with an event that matches and gives them access to their target market.
4. Showcase products or services
If an event offers sponsors a chance to showcase their products and services – for example, through branded t-shirts, goodie bags, a stand at the race expo or finish – they are more likely to partner with the event.
With this in mind, how can you make your event more attractive to potential sponsors?
1. Understand your audience first
Before you can approach a potential brand, it is important to establish demographic information about your participants to provide brands with proof that your event will connect with their target audience. The best way to do this is by conducting attendee surveys or using a ticketing tool or entry platform that collects and provides you with the required data. Then you need to create a report that shows sponsors exactly who they will reach.
2. Tailor-make your sponsorship packages
Sponsors have varying requirements and budgets, so it is important that you create different sponsorship packages. Clearly defined tiered packages help sponsors understand what you are offering them for their financial investment. It is important to allow flexibility so sponsors can customise their involvement – for example giving product instead of cash. This way smaller sponsors are not discouraged and larger sponsors can feel like they are getting their money’s worth.
3. Make social media a key benefit for sponsors
Your social media channels can extend sponsorship reach far beyond your event. Make potential brands aware of this by sharing your past performance and how many people engaged with your social media channels last year. Share ideas of how you would maximise their involvement by interviews, live updates and custom social media posts focussing on the sponsors.
4. Provide proof of success
Brands need to know that sponsorships work. If you can provide proof of previous sponsors’ return on investment, you are more likely to clinch a sponsorship deal. Share numbers that show an increase in social media engagement, website traffic, sales or brand followers that a previous sponsor experienced as a result of being involved in your event.
5. Build long-term partnerships
Most sponsors know that consistent marketing produces more consistent results and builds stronger connections. As a result they might not want a one-time deal, so offer multi-year sponsorship opportunities. To foster trust and loyalty, make them feel like partners, not just sponsors and encourage them to return by keeping them updated throughout the year.
Attracting sponsors is about knowing your audience, offering genuine value, and helping brands hit their marketing goals. If your event can help sponsors gain new customers, boost brand visibility, and build lasting loyalty, it will be easy for sponsors to see why supporting your event is a wise choice.
What do you need help with as an event organiser? If there is an area of organising you would like to know more about, send a mail to tim@finishtime.co.za and we will see if we can find some info for you.
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