I don’t often turn my blog over to others, but event sponsorships are an important part of monetizing your event. Although I have sold many sponsorships in my event planning career, Shannon Cherry is the go-to person when it comes to sponsorships for small business owners.
I love how she has found creative uses for sponsorships and I am thrilled she is sharing some of her tips with you here.
When it comes to sponsorships for events, it’s not about you!
Guest blog post by Shannon Cherry
Each year, companies spend millions of dollars on sponsorship marketing and event sponsorships. Unfortunately, most small business owners don’t even realize they could be getting some of this corporate sponsorship money. And even if they are aware of the possibility of sponsorships, they don’t have a clue about how to make contact with a probable funder, organize the information wanted, and influence a sponsor to join them in a mutually beneficial project.
If you aspire to become a high-quality sponsee –that is, someone who gets corporations to compensate them time and time again via corporate sponsorships—then you need to understand that sponsorship is a business deal, not a donation or hand-out.
Corporate sponsorships won’t work if you are just saying, ‘Gimme! Gimme!’ like one of my 7-year old twins. (At least my girls have learned to say please after the ‘gimme’!)
It’s about finding value for both parties: you and the potential sponsor.
The key to high sponsorship payoffs is that you need to be offering a good event marketing and promotions investment to the corporate funder. Sponsors want to exploit the profitable opportunities associated with your event.
It is as simple as that but perhaps the hardest to grasp.
Let me show you an example to illustrate. My event last year, Business Charm School, had several sponsors including Saratoga Spring Water, Starbucks, Dell, Ba6 Botanicals and more. How did I get all this interest, which essential underwrote the entire event, including snacks, the facility, my room, my clothing and more?
It’s all about showing them why my event was a good value for their marketing dollars: They get media coverage from the Associated Press (as well as several other business related media outlets), increased exposure through the emails and blog posts, direct influence with attendees, promotions on social media, and much more.
Basically, I made it easy for them to say ‘yes’ by presenting them the value.
And that’s what you must do. It’s not about you as a potential sponsee, but about them, the potential sponsor. Start walking in the company’s shoes in order to make that sponsorship a beneficial and profitable one.
About the author:
Shannon Cherry, a business and marketing pro with more than two decades of experience, helps you to make more money in your business without adding more time.
She founded her business, ShannonCherry.com, in 2002 to help helped experienced and ambitious entrepreneurs grow the business they desire– without compromising on their principles. Her focus is to provide laser-targeted solutions to get fast results, including her program Sponsorship Made Simple, which helps entrepreneurs get sponsors for events and other marketing activities.
Shannon’s business has been debt-free since its inception – partly due to sponsorships – and she consistently works only 25 hours per week to spend more time with her family in the capital of New York.