How to obtain sponsorship for an event: a step-by-step guide

You’ve just been given the chance to plan a big event. So, you’re already sorting out the venue, speakers, and marketing strategy. And while you want an event that’ll wow participants, one thing can get in your way.

Funding.

Luckily, many businesses are more than willing to sponsor events. Last year alone, brands invested over $60 billion in event sponsorships. The only thing you need to do is convince them your event is worth the investment.

Never secured a sponsorship before? We got you. In this article, we outline a step-by-step guide to help you learn how to obtain sponsorship for an event.

Why are sponsorships critical for event success?

Sponsorships are the backbone of any successful event, and it’s not just because of the financial support it provides.

They also:

• Enhance attendee experience: Sponsors can foster a sense of community and connection between attendees through their resources.
• Improves marketing research: Sponsors use their networks to promote your event, helping you attract a larger audience.
• Build long-term partnerships: Your event can be the start of a strong partner relationship and encourage sponsors to collaborate in the future.
• Financial support: Funding basic costs, like venue, marketing, and logistics can improve the overall quality of the event itself.

Sponsorships are for more than just financial support, they’re the foundation of your success.

How to choose a sponsor for your event

Understanding how to obtain sponsorship for an event is about choosing the right sponsors for your event. When researching sponsorships, follow these key steps:

• Align your values and goals: You want sponsors whose values and mission align with your event’s objectives. It’s all about creating an authentic partnership that connects with attendees.
• Find sponsors with a similar target audience: Sharing a similar audience with your sponsorship will provide a shared interest for both parties.
• Research their sponsorship history: Have they sponsored past events? If yes, research their history, looking at engagement levels and the nature of previous partnerships.
• Look at their reputation and credibility: Choose a sponsor with a positive reputation and credibility in their industry. It can boost the perception of your event.

By using these key steps while you research sponsors, you’ll be able to choose the ones that best align with your goals.

How to obtain sponsorship for an event

You’ve done your research and have a list of sponsors you want to reach out to for sponsorship. But what’s the right way to go about it? Below are the steps to teach you how to obtain sponsorship for an event.

Researching potential sponsors

As we’ve mentioned above, you want to invest some time researching potential sponsors that align with your event. Dive deep into the following:

• • • Their target audience: A sponsor’s audience should match the demographic of your attendees.
    • They have a vested interest: Does the sponsor already understand and cater to your audience?
    • Look at their previous sponsorship history: How were they involved? How did those events turn out?
    • Competitors of potential sponsors: Would their competitors be interested in a sponsorship?

Researching potential sponsorships will save you time in the long run and increase your likelihood of success.

Crafting a compelling sponsorship proposal

It’s time to create a proposal that’ll grab their attention. Include these key sections:

• • • Introduce your event.
    • Provide details about the theme, purpose, attendance, and promotional reach.
    • Explain why your event is unique and how it aligns with the sponsor’s values or business goals.
    • Highlight the benefits for the sponsor, like the visibility they’ll receive through your event’s marketing strategy.

Once you’ve written out your proposal, it’s time to approach sponsors.

Approaching sponsors: best practices

When you reach out to sponsors, you need to get them excited about your event. Here are a couple of tips to enhance their experience:

• • • Personalize your message: No generic emails! Personalized emails improve open rate, increasing the chances of a sponsorship.
    • Timing matters: Reach out to sponsors in advance to give them time to budget planning on their end.
    • Reach out to your network: Find contacts in your network who may have connections to potential sponsors. This friendly introduction usually carries more weight than cold pitching.

While your proposal matters, how you deliver it is even more important.

Offering value to your sponsors

Sponsorship is a two-way street. Gaining visibility is great, but they need more incentive to sponsor your event.

• • • Offer exclusive opportunities: Speaking options, VIP access, or hosting a product demo or contest.
    • Provide data and metrics: Show them proof that the investment paid off.

Going that extra step can take you a long way.

Negotiating and finalizing sponsorship agreements

Your proposal wowed a potential sponsor, and they want to get involved. Here are the steps to close the deal:

• • • Step #1: Open the initial discussion: Prepare a sponsorship package outlining the type of support they’ll provide and the benefits they’ll receive.
    • Step #2: Work towards a win-win solution: Keep an open mind and work towards a deal that suits everyone.
    • Step #3: Communicate clearly: Both parties need to clearly understand the expectations, deadlines, and deliverables.
    • Step #4: Draft a contract: Once an agreement has been reached, draft a contract. Include financial commitments, timelines, marketing responsibilities, and any contingencies.
    • Step #5: Review the contract: Both parties should review the contract to make sure everything’s included and agreed upon.
    • Step #6: Finalize the agreement: Once both parties are content and the contract is signed, your partnership is officially finalized.

You just signed your first sponsorship! Now, you can move on to planning your event.

Nurturing long-term sponsorship relationships

People often miss one step when learning how to obtain sponsorship for an event. Getting a sponsorship for your event is a great achievement, but what’s important is nurturing that relationship for future events.

To foster a long-term sponsorship relationship, do the following:

• • • Keep sponsors engaged: Update your sponsors by offering them exclusive updates, insights, and early involvement in future events.
    • Show appreciation: Whether it’s sending them a small goody bag or a thank-you note, show your appreciation to build a trusting and valuable relationship.
    • Ask for feedback: Include them in the conversation and ask for feedback to understand their experiences and the areas that need improvement.

By nurturing your sponsorship relationships, you create a network of supporters who are eager to collaborate with you again.

FAQs

How can I measure the success of an event sponsorship?

Measure the success of an event sponsorship by analyzing KPIs like brand visibility, social media reach, post-event surveys, and attendee engagement.

What are common mistakes to avoid when seeking event sponsorship?

Common mistakes include not researching potential sponsors, failing to personalize outreach, and forgetting to highlight sponsor benefits.

What are some creative sponsorship ideas to offer?

Exclusive VIP experiences, digital sponsorship packages with social media promotions and live streaming during the event, and branded interactive activities or gifts.

How far in advance should I start looking for event sponsors?

Look for event sponsors at least three to six months in advance.

Meet Kaltura Events – the #1 virtual events platform

If you’re going to host a virtual or hybrid event, you want a platform that can support you throughout the event lifecycle. Sponsors don’t want to be involved with an event using mediocre tech or inaccessible content.

Kaltura takes the pressure off your shoulders by streamlining the presenter and audience experience while tracking, measuring, and reporting the data you and your sponsors need to know.

AI-powered content personalization, flawless video quality, and automatic captioning and translation services give attendees an outstanding experience—and sponsors a stronger return on investment.

With Kaltura dedicated to boosting your event’s engagement, your sponsors will keep coming back. If you want to give them a reason to collaborate with you again, give Kaltura a try.

Conclusion

Understanding how to obtain sponsorship for an event is crucial for achieving success, whether it’s a virtual or hybrid. However, a little research and outreach to the right sponsors can create an event that not only wows your attendees but helps your sponsors reach their goals.