Sponsorship packages are an important aspect of securing financial support for events, programmes, and organisations. Essentially, these packages outline what a sponsor will receive in exchange for their investment. These can include branding and advertising opportunities, VIP access to events, and exclusive perks such as merchandise or product placement.
Getting sponsorship packages right is crucial because it can make or break the success of an event. It’s important to create a package that not only provides value for the sponsor but also aligns with their goals and values. By doing so, both parties benefit from the partnership and can achieve their respective objectives. Additionally, a well-designed sponsorship package can help build long-term relationships with event sponsors, leading to continued support for future endeavours.
In this blogpost we will cover what to do and not to do when creating a sponsorship package to entice future partners.
Dos
When it comes to creating sponsorship packages, there are certain things that should be done in order to make them effective and attractive to potential sponsors.
One key ‘do’ is to offer multiple packages. By offering different levels of sponsorship, you can appeal to a wider range of sponsors and accommodate different budgets. This can include everything from basic packages with minimal benefits to premium packages that offer exclusive perks.
Another important one is to tailor your packages to fit specific needs and goals of each sponsor. Consider their industry, target audience, and marketing objectives when creating a package that will resonate with them and provide value for their investment.
It's also crucial to clearly outline the benefits of each package. Event sponsors want to know exactly what they're getting in exchange for their investment, so make sure to include details on things like branding opportunities, visibility at events, and other perks, such as access to VIP areas or exclusive merchandise.
Offering options for customised packages can also be a great way to attract sponsors who have specific needs or ideas in mind. This can involve working closely with the sponsor to create a package that aligns with their goals and provides unique benefits that they may not have considered before.
Lastly, it's important to offer social media promotion as part of your sponsorship packages. Social media is a powerful tool for promoting events and creating buzz, so make sure to include opportunities for sponsors to be featured on your social media channels or even dedicated social media posts promoting their brand.
By following these dos of sponsorship packages, you can create packages that are attractive to a wide range of event sponsors and provide value for their investment, which can help build strong, long-lasting partnerships.
Don'ts
Sponsorship packages are a vital aspect of securing funding for events, and it is essential to get them right. While it is important to focus on the dos of sponsorship packages, it is equally important to avoid the don'ts. One of the primary don'ts of sponsorship packages is offering packages that are either too expensive or too cheap. A package that is too expensive may turn off potential sponsors, while a package that is too cheap may be perceived as low quality or ineffective.
Another don't of sponsorship packages is offering packages that don't align with the sponsor's target audience or brand values. It is essential to conduct research and understand the sponsor's target audience and brand values to create packages that will provide the most value to them.
Providing generic or unclear benefits is another mistake to avoid. Sponsors want to know what they will get out of their investment, so it is crucial to outline the benefits of each package in clear and concise terms. Additionally, it is important not to make sponsorship exclusive to only one sponsor, as this may discourage other potential sponsors from getting involved.
Finally, one of the most significant don'ts of sponsorship packages is forgetting to follow up with sponsors after the event. It is essential to build long-lasting relationships with sponsors, and following up with them after the event shows that their investment was appreciated and valued. A simple thank-you email or phone call can go a long way in ensuring future sponsorship opportunities.
In short, avoiding these don'ts of sponsorship packages is just as important as focusing on the dos. By offering multiple packages, tailoring them to fit the sponsor's needs, clearly outlining the benefits, providing options for customised packages, and offering social media promotion, and avoiding the pitfalls listed above, event organisers can create attractive and effective sponsorship packages that will draw in and retain sponsors.
Maintaining Sponsorship Relationships
Maintaining good relationships with sponsors is crucial for the success of any event or project. Not only do sponsors provide necessary financial support, but they also bring their expertise and networks to the table, which can be invaluable for the growth and development of the event. By maintaining a positive and open relationship with sponsors, you can foster long-term partnerships that benefit both parties.
One of the most important aspects of maintaining good relationships with sponsors is clear communication. It is important to keep sponsors informed of all the developments and progress of the event, as well as to provide regular updates on how their investment is being utilised. This helps to build trust and confidence between the sponsor and the event organiser, which can lead to future collaborations and sponsorships.
In addition to communication, it is also important to show appreciation for the sponsor's investment and support. This can be done by providing regular updates on the success of the event, acknowledging their contributions publicly, and offering exclusive perks or access to the event for their representatives. These small gestures go a long way in building a positive relationship and encouraging long-term partnerships.
Final Thoughts
In conclusion, maintaining good relationships with sponsors and creating successful sponsorship packages go hand in hand. By communicating clearly, showing appreciation, and tailoring packages to fit the sponsor's needs, event organisers can build strong partnerships that benefit both parties. These partnerships can lead to long-term collaborations and sponsorships, which are essential for the growth and success of any event or project.
