4 Steps to Securing Sponsorships for Your Upcoming Fundraising Event
WRITTEN BY Kristina Brunnler
A sponsorship for a nonprofit fundraising event usually entails a business providing financial support in exchange for some form of public recognition. There are numerous benefits for sponsorships to both your nonprofit and the sponsor. Most obvious, a sponsorship brings in revenue for your nonprofit organization, but it can also enhance the reputation for both the sponsor and your nonprofit. In fact, a report from Nonprofit Source found that 90% of businesses that partner with reputable nonprofits enhanced their brand. In addition, fundraisers that mention matching gifts also received a 71% increase in donations and a 51% increase in the average amount donated. By investing time to find sponsors first, you’ll save yourself the time you’ll otherwise invest in fundraising from individual donors. To get started follow the four steps below to begin finding sponsors for your upcoming fundraising event.
1. Reach Out to Prior Supporters First
If you’ve held sponsored events in the past, then there’s no need to reinvent the wheel. Reach out to sponsors from last year’s event or other fundraisers you’ve held, first. Be sure to make renewal asks 4-6 months in advance and always follow up with those that have not yet confirmed. Incentivize sponsors from prior events with additional or exclusive benefits for continuing or upgrading their sponsorships.
2. Capture Referrals From Your Existing Network
Before reaching out to businesses new to your nonprofit, ask sponsors and guests from prior events for referrals. Also look internally and reach out to your nonprofit’s board members. Look externally to affinity sponsors aligned with your nonprofit’s missions or to local businesses that can provide in-kind sponsors such as decorations and auction items.
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3. Make it Easy to Sign-Up as a Sponsor
To start, showcase your event’s sponsorship opportunities on your website. Create a sponsorship form on a dedicated landing page that easily showcases the benefits of becoming a sponsor. You can break down your sponsorship options into levels and include exclusive perks that come with each one. Be specific on exactly what comes with each tier, for example on stage recognitions or their logo on promotional materials or on your website.
4. Nurture Event Sponsors & Guests Year-Round
Most sponsorships evolve from mature relationships. Steward event sponsors all year long, just as you would with any donors. Keep them up to date with upcoming events, milestones, new initiatives or campaigns, etc. One of the best ways to stay in touch with sponsors is though mobile communications, which allows your organization to easily keep your donors and supporters informed, excited and ready to give to your cause.
Rewards of sponsorship to your nonprofit are significant, from additional funding to increased media attention. Generally, the more time you invest in securing sizeable sponsorships for your event, the less reliant you’ll be on ticket sales and donations alone. To learn how you can start showcasing your upcoming event’s sponsorship packages on your site, request a demo from one of our fundraising experts.
Our goal at MobileCause is to help nonprofit organizations create and manage successful digital fundraising campaigns, raise more money and retain donors longer. Request a free demo with one of our fundraising experts to learn, step by step, how MobileCause can simply help set up your campaigns while transforming your results.
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