Reaching out to sponsors can be a nerve-wracking experience. To be persuasive, it’s crucial to have a complete and effective proposal document to give to your potential sponsors. Here are the 6 top ideas to consider as you decide your sponsorship levels and dollar amounts:
1. Determine the funds you will need in order to produce the event.
That is usually the best total to shoot for when creating different buy-in amounts for your sponsors, particularly if it’s a charity event. A charity 5k that anticipates spending $5,000 to produce the event should aim to get a Presenting Sponsor to cover the full amount. That way, all additional sponsorships and registration revenue will go back to the charity cause.
2. Create a list of sponsor benefits and deliverables that you can provide.
These are things like:
- Logo on the brochure, website, and t-shirts
- Company mentions in radio ads or news stories
- Event banners with their logo at the start and/or finish line area
- Expo booth space at your event
3. Decide on the sponsorship level names and assign a dollar value.
- Use familiar terms like:
- Platinum – $5,000 | Gold – $3,000 | Silver – $1,000
- Make it themed:
- Presenting – $5,000 | T-shirt – $3,000 | Mile Marker – $1,000
4. Assign benefits packages to each level.
The top-level sponsor should receive all the benefits as the subsequent levels getting less until you work down to the smallest sponsor buy-in amount.
5. Make a list of how sponsors will benefit from your event.
Aside from showing their logos, make sure you say how their participation in your event will benefit them. It’s a good idea to highlight to sponsors that your target market for event participants is the same type of people they target for their own businesses. Your argument will be more persuasive if you show how you are helping them get in a large crowd of potential new customers.
6. Make your target list of businesses in the community.
Now that you have your sponsor levels, benefits, and dollar amounts set, decide what businesses are your best targets. For example, if you have a level for “T-Shirt Sponsor”, consider talking to a custom apparel store. If your event is raising money for an animal charity, talk to the local pet stores, shelters, and boarding facilities about becoming your top-level sponsor.
Once you’ve defined your sponsorship levels, be sure to create an online registration form where sponsors can easily contribute to your event.
What creative ideas have you used to create sponsorship levels? Let us know!