Sponsorship…Free Money, Right?
January 25, 2012 in Event Essentials
Let’s look at the following scenario: You’ve been tasked with producing an event for your company/organization. The people responsible for putting you on the spot have very high expectations. Problem is, there’s very little budget. What’s a planner to do? How about getting sponsors to help supplement your paltry budget? I’m sure you’re been to other events that have had sponsors, so obviously you can do it too. Now, where to begin?
The first question you have to ask yourself is, “What is a sponsor?” This is someone you want to give you a product, service, or cash. The best way to think of a sponsor is to think of them as your “Event Partner”. Using this thought process you’ll better find the right match for your event. Keep in mind that the sponsor wants something from you in return. This brings us to question number two.
The second question to ask yourself is, “What do I have to offer?” Sponsors don’t sponsor based solely on your pretty face and sparkling wit (Well, most of the time). They will want something in return. This is referred to R.O.S., or Return On Sponsorship. This could be in the form of advertising, event signage, or stage time. You have to make sure what you’re offering is in line with what you expect from your sponsors. For example, don’t ask for $5000 cash and offer a logo in the program as the return. That’s just not good business.
We spend time this week talking with Betsy Wiersma, CSEP from Wiersma Experience Marketing and Mary N. Litzsinger, CSEP of VP Events, Inc. about event sponsorship and tips for making smart connections with potential event partners.
Remember to listen to Event Essentials every Tuesday at 11:00 a.m. (repeats at 4:00 p,m., 9:00 p.m., and 2:00 a.m.) on www.michiganbusinessnetwork.com, where we discuss Events and how they relate to your business.






nt] to show or exhibit; to bring forth or render for or before another or others; offer for consideration; to set forth in words; frame or articulate; stand in front of a bunch of people and show pretty pictures on projection screens utilizing either PowerPoint or Keynote.