Creating and hosting an event is a key fundraising activity for many charity and non-profit organizations. However, for fundraising events to be successful, the cost of hosting must not detract from the expected goal.
Besides carefully watching budgets, event sponsorships are one of the best ways to help cover essential costs while raising additional money. Here are a few things to keep in mind when considering sponsorships, including how to best find and approach corporate sponsors.
Give Sponsors a “Reason Why”
When asking for money or support, businesses, like people, need to know the upside of their involvement. For individuals, your organization’s mission or purpose may be motivation enough. But for corporate sponsorships, where more money is involved, it’s a smart idea to be able to offer additional benefits like these.
Advertising and PR Exposure – Let potential donors know they will be featured across all event marketing and promotional materials. Include figures and metrics from past years’ events whenever possible.
- Social Media
- Print ads
- Billboards or Signage
- TV or Radio mentions
- Local/Regional news
- Interviews
- Website and Email
Turn Sponsorships into Partnerships – Corporate Social Responsibility (or CSR) has become essential as people prefer to work for and do business with companies involved in activities that address social needs – from education, to animal welfare, to art in public places, to childhood hunger, veterans’ services, elder care, scholarships, and countless other social causes.
Offering top placement or “presenting sponsor” status gives donors and sponsors a chance to make your organization’s cause theirs as well. This is an excellent benefit to hold out for your largest sponsors or those willing to commit to many years of sponsorship upfront
Be Clear About Your Request
It can be intimidating to ask unknown contacts for money, For greater success, approach prospects with a clearly defined opportunity and the amount needed to fulfill that need.
Have your budget already established. It’s easier to approach a media company and ask for $30,000 if you can tell them that the donation will go towards eight 30-second TV ads, 50 street banners, and 2 weeks of online and print newspaper calendar alerts. The same applies to all other areas of potential sponsorship.
Consider breaking your budget down by categories:
- Venue – Tip: this is a great opportunity for presenting sponsors
- Food & Beverage
- Entertainment and/or Master of Ceremonies
- Awards and Giveaways
- Photography/Videography
- Event website, registration, presentations, and other technology
- Parking, rideshare, or other travel arrangements
Also be clear about the total amount of money you want to raise. People and businesses tend to contribute more when there’s a goal to work towards.
Match Requests to the Right Prospect
To increase your chances of a “yes,” look for businesses whose own ideals align with yours. Large restaurant groups, for example, are ideal for non-profits aimed at food insecurity, just as real estate developers or brokerage firms would be well aligned for affordable housing or homeless services.
Remember – monetary donations are not the only way to reach businesses. Accept other donations which reduce your overall budget if someone is willing to offer services or goods. A dessert sponsor is better than no food & beverage sponsorship at all. So, keep an open mind when it comes to alternatives.
