According to Planning Pod’s infographic, 75% of event sponsors are always looking for new partners. Sponsors are eager to build new relationships so they can promote their brand in their desired target market. Building business relationships is the key that unlocks a plethora of successful sponsorships.
Getting event sponsors to come to you isn’t as difficult as it may sound. All you have to do is put your event out there and share how sponsors can benefit from participating in your movement. A strong business relationship is the foundation to the perfect event sponsorship.
Building Business Relationships 101
You may have paid attention to Valoso’s latest partnership with TEDxAuckland. Let’s use this as an example of how to successfully develop a business relationship with a large, well-established brand.
Scope out the world around you. Pay attention to event news and news in your industry. You can find the best sponsors simply by looking around and also
First, you must businesses in your industry to connect with. Event sponsors are not interested in developing relationships with event organizers who do not correspond with their goals. Do your event attendees match the target market that these businesses are trying to reach? If not, find yourself a different list of potential business partners!
Valoso and TEDxAuckland both had the idea of event marketing in mind. They both wanted to reach a target audience that enjoys attending events. Valoso intends to amplify TEDxAuckland’s impact in the event industry through our video production and digital marketing tactics.
You may need to go back to the basics and reevaluate your own event marketing goals to determine what you will offer to potential sponsors.
Next, find the best contact method for your sponsors. Bobby Lin, CEO of Valoso, got in touch with the lead organizer for TEDxAuckland to start this burgeoning partnership. Try to never contact a business through their contact form. Email always adds a more personal touch, and that makes a statement.
If you are searching for a local sponsor, consider visiting their office or giving them a call. The more direct the communication, the better the response. Don’t make it easy for companies to send your email to spam. In your niche, building business relationships will rely on your tact and strategy in communicating with potential partners.
Converting Businesses to Event Sponsors
Building business relationships is key to landing event sponsors. 83% of B2B marketers are engaged in events, which means you are missing the action if you aren’t converting your B2B partners into event sponsors.
For example, Toronto International Film Festival (TIFF) secured an event sponsorships tip international makeup icon L’Oréal. TIFF admits building business relationships with L’Oréal and its partners is what lead to such a successful sponsorship.
Exclusivity was essential to the sponsorship. By making L’Oréal the center of the event, TIFF guaranteed the partnership with the major makeup brand. The two companies converged on a similar mission: glamour on the red carpet. The partnership would not have worked so well if TIFF and L’Oréal had conflicting goals.
How can you connect with your potential sponsors in a way that makes them feel special? What ideals do you share with your sponsors that will serve as the foundation for your partnership?
Elevate by BizBash is another example of a successful event sponsorship. The Elevate Conference accommodates multiple event sponsors, featuring them in numerous creative ways. For example, with a Diamond Sponsorship package, BizBash presents an ice sculpture of its sponsor’s logo at the reception of the conference.
This example proves that creative sponsorships is certainly an effective way to secure partners. Make your pitches stand out from the rest. Offer something unique and irreplaceable for your potential sponsors.
Global sponsorship spending will reach 65.8 billion dollars in 2018 alone, and annual spending for event sponsorships is only on the rise. But, not every event sponsor has to contribute a monetary amount to support your event. For instance, a tech business may be interested in providing free tech equipment for your event in return for branding.
The Science Behind Event Marketing
Starting a business relationship is certainly daunting. Reaching the point of a solid partnership that lasts for years is great, but how do you get there? Look at your business partnership as a relationship not a project.
The more you work on flourishing your relationships with other businesses, then the more naturally you will find opportunities open up. With the right B2B relationships, you can open doors to more than just event sponsorships.
Event marketing is essential for any business to thrive in 2018!
For the best help with all your event marketing needs, get in touch with Valoso. Our team of professionals is waiting to help you with whatever comes your way. Fill out the contact form below to learn more about Valoso. “