Introduction:
Look to local businesses for sponsorship opportunities. Local businesses are a vital aspect of many communities; they create jobs, give character to the community, and boost local economies. Partnering with local businesses will allow the event to bring the focus to increasing engagement with the community and directly target local consumers. Sponsorship sales are beneficial for both the event and the local business, as they will bring increased recognition and revenue to the business. The event will be able to provide a unique experience for attendees and the local community while building their relationships with the local businesses.
Local Business Needs When Creating Sponsorship Opportunities
When looking for local businesses to sponsor an event, it is important to understand what each specific business is looking for, such as brand exposure, customer engagement, or improved sales. It is important to discuss with each sponsor what challenges and struggles the business faces, or may potentially face, to help determine if the business will be a match for the sponsor the event is looking for. Each sponsor is different, and having insight into each business will help to foster more success for both the sponsor and the event. Instead of offering one type of sponsorship opportunity, offering a tiered package allows businesses to seek the exact benefits they desire from the sponsorships.
Crafting Sponsorship Packages
When creating a sponsorship package for a business, it is important to keep in constant contact with the business. While creating a package describing sponsorship opportunities, it should be clear what the sponsorship entails along with the goals. Before reaching out to sponsors, the event will want to do research based on their target market; this can be based on consumer behavior trends, demographics of the event, or other benchmark events. A personalized package that appeals to the business is essential to draw them in, local businesses can reach out to reach out to partner with events. When a local business is ready to reach out to an event they should create a visually appealing pitch deck.
What Goes Into a Pitch Deck
A pitch deck is a presentation that showcases sponsorship opportunities to a company or business and how it could provide benefits. When creating a pitch deck, it is important to include elements such as a cover page, an introduction, an overview of your team, insights into target demographics, opportunities, plans, past successes, the budget, and contact information for the next steps. Introducing your team while within the pitch deck allows the chance to build credibility with the audience and provides an opportunity to showcase any experience or skills that specific team members have.
The introduction should give a clear view of the key objectives, mission, and vision, along with what makes the company valuable as a sponsor. Providing data and research on target demographics such as age, gender, location, interests, income, and factors important to the event will highlight how the business aligns with the goals that the event has in mind. Data visualizations such as charts or graphs to display data are an excellent way to showcase key insights for the audience. Within this section is the chance to provide deliverables of specific benefits that the business could bring to the event; here they could provide examples of event-specific offers of what they could bring to the table. The sponsorship opportunities section could include examples or demonstrations of products, sample media promotions, networking opportunities, or brand visibility, such as sample logos or signage. Having a sample plan for the event will demonstrate a clear understanding of how the sponsorship will be executed and will build the company’s credibility on how it performs.
When discussing the plan for the event, the business can also provide insight into how they would get their return on investment (ROI) and why they specifically would benefit from the event. This is another chance for the business to bring forth its potential benefits and how they align with the objectives and goals of the event. The use of data and metrics from past events or successes illustrates the impact a business can have. Case studies and testimonials in conjunction with data establish expertise and authenticity through in-depth examples to help the event visualize the business in their own event.
Providing past experience can also help increase the credibility and likelihood of gaining the sponsorship spot as the event has evidence they can trust the event. The final informative slide in the deck is a place to discuss the budget; this will break down any major or expected expenses the business might go through and give a business a chance to show how funds would be allocated. On the final slide, provide contact information so the business can be easily reached with the steps moving forward.
Different Sponsorship Opportunities Packages
It is beneficial to give the option of different sponsorship opportunites, as it allows businesses and companies to be able to participate without size being a determining factor. Sponsoring an event can potentially be costly for a smaller local business, so providing options that allow smaller businesses to participate will increase the number of sponsors.
According to Marketing Charts, community events, and festivals comprise 44% of meaningful sponsorships, as well as 3 out of 5 people stating a sponsorship had an influence on their purchasing. Local businesses getting involved with events will increase their visibility and strengthen their relationship with attendees to turn them into customers. Different types of events require different types of sponsorships; thus, it is important to consider different levels of sponsorship to help local businesses get involved with ensuring the event fits their needs.
Experiential activations
An excellent way for businesses to interact with attendees to create a memorable experience with the brand is to have experiential activations as part of the sponsorship. An experiential activation allows the business to interact directly with customers and attendees to create a unique experience that leaves them more connected to both the business and the event.
Research has shown that “91% of customers confirmed they would feel more optimistic about a brand’s product or service after actively participating in a brand activation or experience.” (Limelight) Businesses that are able to interact with their customers build trust that will lead the consumer to be more inclined to purchase the product and become repeat customers in the future. Experiential marketing is common to see at events, especially entertainment events. Some examples of common experiential activations might be sponsored lounge areas, themed booths, free samples, craft booths, and many other activities that get the attendees involved.
When planning an experiential event, it is important to consider the audience of the event, what makes it memorable, and the extra costs associated with the experience. The activation should be tailored to the target demographic that will be attending the event. Making a memorable experience for the attendees will give them a reminder each time they see the business. Activation can be memorable in many different ways, but it is key to consider if it will have any additional costs, such as supplies or products that may be given away for free. Establishing key performance indicators before an event can help to figure out if it is worth the investment.
Community-Centered Sponsorship Activations
Creating community-centered sponsorships with local businesses promotes authentic connections between the business, event, and community. Local businesses are able to increase their exposure and recognition within the community through meaningful interactions, which can foster long-term partnerships. As the business grows and continues to contribute to both the event and the community, it will strengthen its reputation and brand image as those in the community will continue to build trust the more they see the business. Building long-term relationships it is important to maintain communication with the local business and reach out to both follow-up on how the event went and express appreciation for participation. Through collaborations on events, local businesses can help create a seamless experience between their products or businesses and the event experience. Partnering with local businesses in the community can also be beneficial to the local economy, thus leaving more of a long-term footprint. There has been increasing recognition of the power of partnerships within the community. Consumers and attendees often want to support local businesses within their communities, rather than big corporations.
Conclusions
Creating sponsorship opportunities with local businesses to create authentic connections within the community provide an opportunity to increase brand awareness and improve the experience of employees through local culture. When events work with local businesses it not only provides benefit to the event, but it also strengthens the local economy by building customer trust and loyalty for the local business.
Through experiential and community centered sponsorship activations an event can improve their engagement with attendees to help leave lasting impressions, increasing the chance of them becoming a repeat attendee. Events and local businesses can create lasting relationships with local businesses, beyond just a singular event. A continuous sponsorship between local businesses and an event can show an investment and loyalty to a community. Events can maximize their impact with local businesses through collaboration to benefit more than just themselves, but a whole community.
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