Reaching out to sponsors can be a really difficult thing to do. And you want to make sure you have complete and effective proposal document to leave with your potential sponsors. Here are the top things to consider when setting your sponsorship levels and dollar amounts:
- 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. Especially if it’s a charity event. A charity 5k that expects to spend $5000 to produce the event should aim to get a Presenting Sponsor covering that amount. That way, all additional sponsor $$ and registration $$ goes back to the charity.
- Create a list of sponsor benefits and deliverables that you can provide
These are things like:
- Logo on the brochure, website, t-shirts
- Company mentions in radio ads or news stories
- Event banners with their logo at the start/finish line area
- Expo booth space for them to advertise at your event
- Decide on the sponsorship level names and assign a dollar value
- Platinum – $5,000 | Gold – $3,000 | Silver – $1,000 or
- Presenting – $5,000 | T-shirt – $3,000 | Mile Marker – $1,000
- Assign the benefits package to each of the different levels
The top level sponsor should receive all the benefits with the subsequent levels getting less and less as you work down to the smallest sponsor buy-in amount.
- Make a list of how the sponsor will benefit from your event.
Besides just getting their logo splashed everywhere, let them know how else their participation in your event will benefit them. Many times it’s beneficial to point out to sponsors that your target market for event participants is also the same type of people they target for their own business. So you are helping them get in front of hundreds, maybe thousands of potential new customers.
- 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 going after a custom apparel store. Or 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.