Question

Topic: Research/Metrics

Sponsors For Awards

Posted by Anonymous on 7/8/2011 at 5:19 AM ET 250 Points
My question is I launched an award ceremony for young professional people in entertainment 2007, it was staged for 3 years from private sponsorship. I am seeking long term sponsorship for the 2011 ceremony and would like to know if there is any one that could direct me on how to do this. I have limited funds to pay a PR company so any advice where I can help myself would be appreciated. www.yeawards.com, also anyone interested in this kind of venture would be welcomed.
Thank you!
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RESPONSES

  • Posted by koen.h.pauwels on 7/8/2011 at 2:34 PM Accepted
    Dear Sazz,

    Great iniative and interesting marketing question! My key question to you is why the previous sponsors were short-term: (a) did they love your initiative and their benefit from sponsoring it but only had the funds for 1 year/ or had a rule to only help start as opposed to fund continuing initiaves, or (b) they evaluated their sponsorship less positively as compared to other stuff they could spend money on.

    If (a), I would use past sponsors as a reference for future sponsors, which may have more enduring funding. Note that long-term sponsors may (1) be different organizations (eg institutions and large companeis versus SMEs) and (2) have different motivations than short-term sponsors.

    In my experience, short-term sponsors are often convinced to 'do something good' with a personal connection to the awards organizer, while long-term sponsors need to see a strong fit with their mission in life, ie what does an organization gain over several years by being related to your wonderful initiative? Once you answer that question, identify the organizations that should most strongly and urgently need such a connection (with your initiative versus alternatives), and approach them with a proposed cost-benefit analysis and raving references by past sponsors.

    Cheers and good luck!

    Koen
  • Posted by mgoodman on 7/9/2011 at 10:29 PM Accepted
    What's in it for a sponsor to fund your event? Why might they want to sign on for an extended period of time? What's the ROI for them?
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