13.4. Event Sponsorship

If after creating your budget, you realize that you need extra cash for your event, think about bringing a sponsor on board. A sponsor can provide much-needed cash for your event, in exchange for something that is of value to them.

Event Sponsorship Basics

An event sponsor is a company that supports an event, usually by providing funds, in exchange for something valuable. Oftentimes, this “something valuable” comes in the form of increased brand exposure, access to attendee data, speaking opportunities at the event, or discounted event tickets (Bizzabo, 2020).

Event sponsorship goes beyond financial donations, sponsors could donate food, prizes, room rentals, audio-visual support, marketing and media support – the list goes on and on.

Finding a Sponsor

Finding event sponsors isn’t difficult as almost any business could be a potential sponsor. When thinking about an event sponsor, it is important to keep your theme and intended audience in mind. Assume you were planning an event for a company that specializes in childcare and the theme for the event was “Play Time”. Which would make a better sponsor: Rogers Wireless or Toys R’ Us? Who would be a better strategic partner for that same event: Michaels Craft Store or Labatt Brewing? Rogers Wireless and Labatt may want to give you money (great!), but it’s important to consider the optics when accepting sponsorship funds. Perhaps Labatt could support the event by being the named sponsor for an evening social event, and they provide the beer. Rogers Wireless could provide a stress ball or coupon code to put in the swag bags.

Approaching a Sponsor

The following link to a post on The Sponsorship Collective provides additional information about why companies sponsor events, how to choose sponsors, creating a sponsorship proposal and other important information.