Sponsors can be a really helpful source of product and revenue for your race, so make sure that you are able to offer competitive and valuable event sponsorship package options.
Sponsors can be a really helpful source of product and revenue for your race, so make sure that you are able to offer competitive and valuable event sponsorship package options. An event sponsorship package is essentially your “pitch” on why potential supporters should choose you over other events or channels they could invest their budget. That’s why it’s so critical to understand what are the goals and objectives of your sponsors and potential new sponsors.
When communicating with a sponsor, you will likely be in touch with the head of marketing or similar who will decide if they can be involved. However, they will likely have to consult with other members of their team before any payment or commitment is made. Without a sponsorship package to refer to, they won’t be able to convince others of the value of your event.
Having a pack can help you refer to something further down the line, to see if you’re fulfilling your end of the deal, building trustworthiness between you and the sponsor.
So here are 2 common approaches to take when designing your package:
Here is a breakdown of how to build a tiered sponsorship model that can offer something for all levels of desired involvement.
The a la carte sponsorship model approach is an alternative model for sponsors looking to achieve specific goals or outcomes. Perhaps they haven’t been too interested in what you have had to offer so far, or are not responding well to a tiered model. If you have the time and resources to try something new, this is your key to look into a tailor-made package. Below is an example of a la carte sponsorship offerings, based on the event lifecycle stages.
This is just an example of some of the ideas that can be included in this kind of pacakge. Remember, its tailor-made, so it's up to you to understand the needs and wants of your sponsor before making it. For more on sponsorship meetings to understand your sponsors needs, see our ‘Identify and Approach a Sponsor’ guide.
But this isn’t all your potential sponsors might want to know about your event and why they should get involved. Apart from the brand recognition and engagment opportunities you have available to them, they’ll want to warm to your audience and event ethos. Here are a couple of extra things you should include in your package:
This is an often forgotten section, but important in order to lay down the foundations for your relationship. Here are some points to highlight to inform and hopefully impress your reader:
If they’ve never heard of your event before, you need to give them some information for them to warm to you!
Any potential sponsors will want to know exactly who your audience is. What are their demographics? You should have statistics about your market at your fingertips. Be specific about the ages of your race goers, where they’re from, and gender proportions. You can see these statistics on your eventrac dashboard.
Sponsors want to know information about the audience's purchasing habits, this information will help them work out if its the right market for them to showcase their brand in.
Do you have any charity partners? If so, they should definitely be included in your package, either at the beginning in an ‘about’ section or near the end after your package options. If your sponsor has the opportunity to be associated with the charities that your event is supporting, its a win-win. You could even go a step further, and include the option to ‘nominate event charity’ as part of the top sponsorship package.
Don’t be afraid to include some sort of call to action within your sponsorship packages. This makes it easier for them to respond and, of course, say yes to your proposal.
At the very least, make sure you include your contact information. Making it easy for them to get in touch with you is paramount especially if an answer to their question could mean the difference between a “no” and a “yes.”
The aim is for your potential sponsors to know exactly what they will get out of your sponsorship packages. Be very clear on why you think it is worth their time and money. Be specific when you contact potential sponsors. Learn more about them, what they do, what audience they target, and even other events they’ve sponsored in the past. Customize your message to meet their needs so you can make it easy for them to invest in your event. See our guide on ‘What can your race offer a sponsor’ for more ideas of what to include in your pack and making the most out of your brand placement opportunities.
The team at eventrac are on hand to assist with all components of your event. From advice on promoting your event through low cost channels such as social media, to a guided tutorial on a specific feature of eventrac. We are here to help.