...hmmm, where to start!
Overview of Approach
- Keep it simple
- Find good prospects
- Get the pitch right
- Create desire & urgency
- Close smart not hard
Keep it Simple
This may be a new area for you, but don't let that come across to your target sponsors. You need to develop a clear idea of what's in it for them, and what you want in return - ie money and an early commitment.
Find good prospects
Scour your local press and in particular any local magazines to see who is already spending money to reach your audience. These are your regional targets and will fall into a number of categories such as estate agents, private schools, leisure operators (from bars and restaurants to swimming pools), photographers, lawyers, childcare, party organisers, shops that target kids such as school outfitters or music shops...the list will go on but you'll give yourself the best chance of success by sticking to companeis that believe in marketing ie you've seen their ads.
Another type of prospect might be transport-related. Are your visitors into particular hobbies related to transport? This isn't my sector so I'm not sure if you'll have much joy in this area but worth giving it some thought.
Get the pitch right:
Why
It's essential to work out
why sponsoring your event will be great for your prospects. You should read through this
guide to what you can achieve from an exhibition published by the Association of Events Organisers.
OK so your event is a bit different but you should read this through with the mindset of one of your target sponsors, and work out how the event can achieve their various marketing objectives. Here are some ideas fo starters:
- if they want branding sell them their logo on the website and all pre-event promotion
- if they want sales leads give them a focal point at the event (a stand for example) where they can engage with visitors
- if they want to look like a caring company work out how you can PR their sponsorship for them (for example, the local paper may well cover the event, approach them and ask them to do a double page spread review in return for their logo on your promotion pre-event - they may well say yes and you can name check/thank the other sponsors. or they may let you run small ads around the feature for your sponsors if you let them be your exclusive media partner...?)
What
This will give you your list of packages available to sponsors and event partners.
How much
You've seen where people are spending their marketing bucks, find out how much they're paying for this promotion and undercut them! People like a good deal, and you want to make this as easy a decision as possible.
Research the rate cards/advertising costs of the local media you've lead-sourced from and price your packages accordingly.
I'm not suggesting you undercut the competition
just to make selling your packages easier. Your event will probably also reach less people, and you don't have relationships built up over years to pull on, so any promotion that's new for your target sponsors will be perceived as a risk. Don't add to these problems by getting price resistance from charging too much.
I wouldn't publish a price list and instead talk prospects through the range of options and ask them how much they would pay. Quite brave but at least you're getting them to tell you what they think your products are worth (and many prospects may be reluctant to negotiate if they think you're too expensive, instead they might just say no).
When
Get the bookings in quickly - don't spend weeks or months hoping that the deals will come in (see creating urgency below).
Who
Are you speaking to the right person? Can your prospect sign this off or will it be decided on by someone you've never spoken to?
Give yourself an impressive title or get someone who is locally respected to make some calls and pitch high enough to get to the purse strings.
Appealing to someone's ego can help you here and a bit of flattery -
"I'm calling you first as you're known for providing the best service in the area, so I wanted to give you first bite of the cherry"
Create desire & urgency
I'm not suggesting that you need to be able to sell ice to the eskimos, but you need to excite your prospects about working with you - and you'll find it hard to do that through a letter.
Give them a call, be friendly, and ask if you can pop along and see them to talk for 15 minutes about the project. People are more receptive face to face and you'll benefit from body language and being eye to eye (it's far easier to give you a polite no over the phone and carry on with whatever they were doing before you called).
When you meet up with them focus on what the event will do for the community they depend on for business and how they'll be not only getting a lot for their money, they'll also be giving something back.
I can send you more on creating desire such as using picture power and engaging the right and left hand sides of the brain, you want to get them to want to be involved rather than just because it's logical - think sizzle as much as sausage.
Regarding urgency how about an early bird discount - ie 15% off on bookings made by XX date. Or make positions exclusive or limited availability.
Close Smart not Hard
If I were you I would go in positively and assumptive from the start...
"We're putting together our list of partners for the event and wondered if we should reserve you a stand, or perhaps just branding would suit you better?"
This is called an alternative close and gives your prospects a choice between 2 possible answers, either of which suits you and means yes.
This makes it easier for your prospects by putting less pressure on them than asking for a straight yes/no decision would.
There are a number of reasons why people buy. Logically you're probably thinking that companies should want to get involved as it's a great way to reach their potential customers - the profit or gain motive.
it's amazing how much more effective the fear of loss motive can be - once you've started conversations with a couple of companies in the sector you're well within your rights to tell a prospect that their competitors are about to decide on being there,
and you may find companies buy just for fear of missing out!
So...if you get a couple of worthwhile tips from this I'll be pleased and wish you the very best of luck.
I'd be interested in hearing how you get on, if you want some support along the way just send me a PM (if you include your email address I can send you a few things to read that give a bit more detail on the areas above...)
