Incentives to Attract Sponsors

Besides the return on investment, event sponsors look for other incentives that will increase their exposure at events and help with their overall marketing strategy. Some very effective incentives include:

■ Hospitality events

■ Product samples

■ Consumer research

Media buys allow sponsors to buy advertising to promote their affiliation with the event and any sales promotions that are running in conjunction with the event. An even greater incentive to the sponsor would be for the organization to buy a block of time and resell it to the sponsor at a discounted price.

Cross-promotional opportunities allow sponsors to work together to market to niche or lifestyle markets. An example of this type of promotion would be a sporting goods company and a sports drink company combining their efforts; with proof of purchase from the sporting goods company, the consumer would receive a coupon for a free sports drink. (Research Note: This is an excellent example of why research is so important. The creative marketer will look for these types of opportunities while doing research to increase his or her sponsorship potential.)

Hospitality opportunities are probably the largest incentive for potential sponsors. The opportunity to entertain either clients or staff allows the sponsor the chance to increase market share in existing markets, build new relationships, or thank employees and distributors. These types of activities can run the entire range, including a private hospitality tent, cocktail party, VIP seating, parking passes, or special valet parking. Any activity that is special to the sponsors and makes the event more enjoyable for them and their guests is an added incentive.

The ability of a corporation to utilize your event for passing out product samples, whether an existing product or a new product rollout, is a value-added incentive. Along with consumer research, it allows the corporation a direct contact with the consumer. It can also help establish a new consumer database through information gathered as a result of on-site surveys.

The more incentives that you can offer a potential sponsor, the better the chances that you will seal the deal. As with all business arrangements, each party is looking for the best possible advantage. Through the use of incentives, you can offer value added to that which the sponsor receives.

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