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Event Management

Notes Describe the benefits and features that the sponsor will receive.
List all financial responsibilities that the sponsor must accept.
Describe any additional responsibilities that the sponsor must accept.

Describe how you will chronicle the sponsorship activity.
Include a time and a date for acceptance of the offer.
Include a provision for renewal of the sponsorship.
Include an arbitration clause in case you and the sponsor disagree regarding the sponsorship
activities.
One of the most effective ways to persuade sponsors to participate in an event is to organize a
prospective sponsor preview program. During this program you and your staff describe the
benefits and features of your sponsorship activities to a large number of prospective sponsors.
You may wish to invite a couple of previous sponsors to provide in-person testimonials about
the benefits of the sponsorship. You may also wish to pre-sell one or two sponsors so that when
you ask for a reaction from those in attendance, at least two from the group will respond
favorably. Their favorable response may, and usually does, influence others. Avoid trying to
hard sell during this program. Use this program to plant seeds that will be further cultivated
during meetings with individual sponsors.

4.6.3 Overcoming Sponsor Objections

Most sponsors will want their sponsorship activities customized to achieve their specific goals
and objectives. Therefore, they may have some preliminary objections after receiving your
initial offer. Once you have presented the offer, ask them for their reaction on each benefit and
feature. Listen carefully and list these comments. Make two lists. One list is for approvals, those
items that they see the value in sponsoring. The second list is for objections, those items that
they cannot see the value of at this time.

To do this, ask sponsors what is required by their organization to overcome their objections on
each point. In some cases it may be additional exposure. In other cases it may be the price of the
sponsorship. To overcome these objections, be prepared to provide them with the tools they
need to make a positive decision. For example, if their objection is cost, you may be able to
combine their sponsorship with others and lower their contribution. If their objection is limited
exposure, you may be able to reposition their involvement inexpensively to provide them with
greater and more sustained visibility. Handling objections is an integral part of the sponsorship
sales process. Rehearse these discussions with your internal stakeholders to identify other
common objections and be prepared to provide the solution your sponsors need to remove
these barriers.

4.6.4 Negotiating your Sponsorship

Almost every sponsorship will require intense negotiations to move it into fruition. Whenever
possible, conduct these negotiations in person with the decision maker. Assign a specific date
and time for these negotiations and confirm that the sponsor is a feasible prospect before
entering into a serious negotiation. In most negotiations both parties desire a win-win-win
outcome. In this type of negotiation you win as the event organizer, the sponsor wins as the
event funding agent, and the stakeholders of your event win from your mutual efforts to secure
these dollars.
Carefully analyze what your sponsor expects from the sponsorship prior to your negotiating
session. Determine in advance what additional components you may be able to offer if required.

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