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The 8Ps of Event Planning – Part 5

Previously, we look at the importance of promotion. In this part, we will tackle how to deal with sponsors and potential partnerships.

6. Partners

Your event is just about to get publish and your tickets will be on sale! But before that, looking for potential sponsorship deals or organization that could help with your event is a must.

Do you know any organization that would be able to provide some support?

Things to take note when thinking of partnership/sponsors:

  • Could they potentially sponsor this event?
  • Could they provide some capital or material goods?
  • Would they help with the promotions?
  • What would they be responsible for?
  • Is funding the biggest concern?
  • Does your sponsor align well with your event?

Example

  • Could they potentially sponsor this event?
    The university sponsors all athletic teams with $750 for one of their major events
  • Could they provide some capital or material goods? Money will be received
  • Would they help with the promotions?
    The university can publish the event on the website
  • What would they be responsible for? Providing the fund
  • Does your sponsor align well with your event?
    Yes, the university’s cheerleading squad’s event
  • Is funding the biggest concern? Yes

Before going on your sponsor run and requesting an offer, a good start to getting funds from them is to prepare a detailed proposal.

  • Assess what you can provide the sponsors
  • Research and delivery prospects of how successful your event can be
  • Highlight your event’s strengths
  • Negotiate agreement and follow-up
  • Contact the sponsors in advance
  • (It might take up 2-3 months or even more to receive a response from the bigger sponsors)

A few last pointers for Partners is you need to get to know your sponsor. Do some research on what they can provide you as well as what you can offer them. If you don’t need extra funds, this step can be skipped, however, with a sponsor, you can go for bigger events rather than keep it small. Again, depending on the type of event you do, your sponsors will also vary.

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