7 proven tips for an effective event sponsorship proposal
Creating a winning event sponsorship proposal is all about the pitch. There are tens of thousands of events that need to be sponsored every year and only so much money to go around. Because of this, successful proposals have to be multifaceted, creative and detailed. Thankfully, these seven proven tips can help event planners develop effective sponsorship proposals:
1. Get emotional
Potential sponsors are not going to fund something to which they don’t feel a personal connection. Because of this, it’s important to make the sponsor care about your cause. To do so, focus on creating a compelling story. You know your event is outstanding, but now it’s time to help the sponsor see it. Help them understand the challenge you are facing and how your event will overcome it. By stimulating the left hemisphere of the potential sponsor’s brain, you increase your chances of making a personal connection and getting the sponsorship.
2. Use numbers
In addition to caring about the event, sponsors also need to understand why it makes sense for them to fund it. Use numbers to show them how their money will be allocated. Focus helping the potential sponsor understand the demographic of the potential attendees and underline the information with a user friendly graph or chart. By appealing to the logical right hemisphere, you come across as organized, analytical and reliable.
3. Customize the proposal
There is nothing more damaging to an event sponsorship proposal than a generic-looking pitch. Companies want to feel like you’ve come to them for a specific reason and will likely be turned off you present them with a proposal that appears serially produced. Use CRM tools to customize a proposal with the event opportunity in question, the company’s name and the reasons the sponsorship would be a great idea for both parties. Take the time to customize a proposal that not only flatters a potential sponsor, but also shows you’ve invested thought into making the proposal more likely to be successful.
4. Remember – Gimme, gimme, never get
Few companies have the time or resources for unyielding philanthropy and, because of this, they are unlikely to sponsor your cause if there’s nothing in it for them. In addition to detailing how funds will be used, potential sponsors also need to understand how sponsoring the event will benefit them. Explain if the event will drive business, provide advertising or if it can help launch a new product. Show the sponsor what’s in it for them and you’re more likely to get what you need.
5. Visualize your vision
Increase the strength of your proposal by embedding videos. In addition to providing visual relief, a video is likely to stick in a potential sponsor’s mind better than a lengthy paragraph. Make sure the videos are memorable, direct and upbeat in order to increase your chance of success.
6. Be a psychic
With the wealth of analytical tools available to event planners and organizers, there is no excuse for being unfamiliar with the sponsor. Utilize analytics tools to understand where their traffic comes from, their target demographic, where they get their revenue and where they can improve. Customize your proposal to fill in the gaps and boost their strengths.
7. Get ink done
It’s not over until it’s over. When the proposal has been accepted, you want to make the closing process as easy as possible. Send the sponsor closing documents in an e-signature format, which is both easy to read and file for records. Now, do your happy dance, you’ve just sealed the deal!
Although event sponsorship proposals can be intimidating, there is a certain formula for success. Follow these seven proven tips for effective event sponsorship proposals, every time. For best results, create your next sponsorship proposal with PandaDoc.