Collaborating with the right partner can change the outcome of your event in innumerable ways. It helps attract new audiences, cut costs and optimize your brand’s authority. But how do you attract the right sponsor, get them to sign a contract and get the most value out of it?
As daunting as it may seem, but really, there is a pretty straightforward way to do this and win your pitches hands down. The way to think about it is to segment and identify the process into phases.
Here are the three proposed phases by our experts at Wiz365, which if followed, can win you multiple and relevant virtual event sponsorships.
Phase 1: Identifying the Right Sponsors
Finding the right partner is one of the pinnacle of things you must do and it’s relatively simpler than often perceived. The idea here is to look for somebody with a similar audience set as to what you have. In that case, out of your event, you get to share your audience and strengthen both your customer base. This creates a win-win situation and there is a strong likelihood that they are going to partner with you.
For example, partnering with a media company like a digital publisher or a broadcaster comes with its own perks. On top of marketing your own event with their audience, they might also bring, say, a liquor sponsor, or an additional sponsor with them, which would add more credibility and reach to your event.
Before approaching a sponsor, ask yourself these questions: Are they worth the effort? Do they have the bandwidth? Do they have the money? Are they really willing to work with you on this?
It might seem like pushing a boulder uphill, but when you get through this, you will see it’s worth the trouble. Make a list of potential brands who would want to partner with you. If one doesn’t click, instead of batting for a lost cause, it’s wise to scratch them from your list and move on to the next. Believe us, we just save you a whole lot of time.
Phase 2: The Pitching
Now that you have zeroed down on your potential sponsor, you are all set to rock and roll and get geared for the pitch. You can approach them in these four ways.
Be quick and to the point. It is always best to hire an email marketer to write catchy subject lines and basically emails that get you conversions. In case you’re down for it on your own, be sure to make it quick and to-the-point.Show that you’re all about business and also make sure that you are about to put on an amazing event. If you have audiences across different industries and demographics, think about who that potential partner wants to target and hook them with the subject line.
Get them on the phone
There is no beating around the bush, because on the phone, 10 minutes is all you have, and you need to ask them as many questions as possible within this limited time frame. Before you call them unprepared, it is always best to have a one-sheet template prepared. This is of paramount importance because chances are they are going to answer a lot of relevant questions on your first call. This really helps you identify what you need to do in order to get them to sign up.
Bombard them with facts that feel real
This is where you must plan on how you’re going to bring your event to life. Give it a captivating title, and make it feel like it’s an event of a lifetime. Cover what your event is about, the date, the time, and the specific details that you feel your sponsor ought to know.
Of course, they are interested in knowing a little more. To really create an intrigue among your potential sponsors, you need to rope in celebrities in your field - VIPs, influencers, your media partner, the prospects - add everything that you think might add value to your sponsor.
The idea here is simple: make them fall in love with your event, then the rest is a walk in the park.
Let them know what is in it for them
Chart a list of benefits that they will get out of your event. Will they get access to your customer list post the event? VIP passes? Will their brand get pre or post promotions? Do their logos go on your website?
It is better to list them all on your one-sheet and send it across to your potential sponsors and you will find a higher hit rate as opposed to your emails without all these details.
Phase 3: Seal the Deal
Let’s assume a prospect is really interested. You need to lock them in, and the best way to do that is to make them sign a contract. In an era where verbal agreements no longer stand binding, you need to make sure that you get that signature.
This means consistent follow-ups, being attentive to their mails, and no matter whether they are a paid sponsor, make sure you send them all a brief event report. This makes them feel inclusive and really a part of your event. And chances are, they might turn up as potential sponsors to your future events as well.
These were a few key pointers that can come in handy to find the right and relevant sponsorship for your next virtual event. Use these secret weapons and grow your attendee levels to a new high.
Want to partner with us for a virtual event? Talk to our experts today.