3 Important Questions To Ask Yourself Before Looking For Sponsorships

All money isn’t good money

What do you think is one way you can cut expenses, increase engagement, and connect with cool brands for your next event?

Sponsorships.

Planning an event whether it’s big or small can be alot of work and money.  For your event, you can seek out sponsorships from large or small businesses and influencers, but please note many businesses require the sponsorship request to be submitted a few months in advance so proper preparation and planning is key.

Having sponsors is a win-win situation for both you and the company/influencer. Sponsoring an event and being noted through the event’s marketing, press releases/blog posts, and social media posts is one of the easiest ways companies can reach their ideal target market, while promoting their brand. For you, having sponsors will allow you to save coins, attract attendees, boost your credibility, and increase your network with companies and brands.

While getting sponsorships is important and beneficial for your event, YOU are more important. Never immaturely pitch and take sponsorships from every company that offers, because at the end of the day, your company’s brand and reputation is more important than a few quick dollars and freebies.

Before you send out your sponsorship decks, here are 3 questions you should ask yourself first.

1. Do their values and brand align with yours?

You might see it just as a way to save money on your next event, but your audience is going to connect the sponsors with your brand. Because of this reason, it’s crucial that you reach out to sponsors that align with you so that your brand and reputation is tainted or confusing.

*Pro-tip, for our Sip & Spin event, we looked at our current network, companies and influencers we were connected with on social media, and at companies we admired when looking at possible sponsors.*

For example, if you were having an event on the importance of health and wellness, you wouldn’t want a tobacco company to sponsor you. However, maybe a vitamin company or fitness company would be an excellent sponsor.

Another example, if you were having an event on eating healthy, Chick-fil-A wouldn’t be an ideal sponsor but Whole Foods would be.

Lastly, if your company has specific values, it’s important that the companies that sponsor you have values that are similar. Most companies will promote their values on their website so be sure to check it out to make sure you two are equally yoked.

2. How’s their reputation?

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

For the sake of the reputation that you have worked so hard for, be cautious and very particular when partnering with companies. If a company was in a recent scandal, you may not want to partner with them. For example, if your brand believes heavily in promoting Black excellence and beauty, H&M may not be the best company to partner with because it could hurt you more than it would help you.

3. Who is your target audience and what type of activities are most appealing to them?

When you figure this out, it will help you determine the type of sponsorship that’ll make the most sense for your brand. For example, if your company is having an event appealing to Black, Millennial women that enjoy fitness and beauty, then look for companies that appeal to this audience. For our Sip & Spin event, we sought out sponsors that were in the health, wellness, and beauty space because we knew our target market were into looking good and feeling good.

It’s always important to focus your sponsorship requests on companies that will be enticing to your target market – everything is unnecessary.

Good luck planning your next event and I hope the tips above were helpful!

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