Maximizing Event Success Through Strategic Sponsorships
Posted by Maria Gambacorta on July 24, 2024
When planning an event for your nonprofit organization, it's essential to consider multiple metrics for success. However, financial success—specifically, the amount of funds raised—often stands out as the most critical. To achieve this, securing sponsorships from companies and individuals should be a core focus of your event planning process.
Best Practices for Securing Sponsorships
Regardless of the type of event—whether it's a gala, conference, auction, golf tournament, concert, or another format—the process of obtaining strong sponsorships remains consistent. Here's how to do it effectively:
Start Early: Time is your ally in securing sponsorships. Given that nonprofits often compete for the same philanthropic resources, it's crucial to begin planning well in advance. Ideally, have your fundraising strategy in place a year ahead and aim to finalize sponsorships four to six months before the event.
Target the Right Sponsors: Align potential sponsors with your organization's mission. Focus on the quality and relevance of the sponsor. For example, an athletic apparel company may be an ideal sponsor for a youth sports event, while a local grocery store could be a perfect match for a food bank's silent auction.
Leveraging Teamwork
A collaborative approach enhances your chances of success. Engage your board members, executives, and volunteers to tap into their networks for sponsorship opportunities. Equip these ambassadors with detailed information about the benefits sponsors will receive, including data on the demographics of the event attendees. Provide accurate and relevant statistics, avoiding any exaggeration.
Maximizing Exposure for Sponsors
Sponsors contribute financially to nonprofit events in exchange for exposure to your audience. Offer varied sponsorship packages to appeal to both large and small sponsors, ensuring those who invest more receive greater visibility. This can include featuring the sponsor's name on event materials such as signs, banners, brochures, tickets, newsletters, and program books, as well as verbal acknowledgments during the event.
Also, provide complimentary event attendance for at least one representative from each sponsoring company, allowing them to engage with attendees, gather insights, and build connections. For larger events like annual conferences, consider offering sponsors a speaking opportunity.
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Maria provides support of all marketing functions to Lumsden McCormick and Brisbane Consulting Group. Her responsibilities include corporate communications, public relations, proposal writing and design, CRM facilitattion, newsletter management, advertising and sponsorships, organizing technical seminars and special events, and website design. Maria works directly with partners and staff to ensure that clients receive the highest level of service in the industry. She has been with the Firm for over 25 years.