Organizing a music festival is fun and exciting, but it can also be financially challenging. To make the finances work, you need to have an appropriate amount of money in order to fund what’s needed for the success of your event. The ticket sales don’t start until weeks before the event, which means that by then you already know whether tickets are going to sell or not. If they do sell well enough and bring in revenue past expenses such as venue costs and vendor fees-you might be able to collect some money from sponsorships! That’s why sponsoring music festivals is so important.
Finding sponsors for your music festival can be challenging. We’re not just talking about finding a single company to sponsor you, but rather contacting numerous companies and negotiating with them individually. It’s easy: the harder thing is getting started.
There Are Three Key Steps to Event Sponsorship
Develop your sponsorship offers
Find potential sponsors
Sell your sponsorship offers
Let’s take a look at each step in detail, so you can make the right decision with your sponsors.
1.Develop your sponsorship offers
The first thing you should ask yourself before taking out a company’s logo on your festival is to think of what they would gain from sponsoring. They want something in return: brand recognition, or new customers. You might offer them the opportunity to advertise their products and services during the event-even if it seems like a no-brainer, make sure that it is beneficial for both parties.
The goal is to find the best balance between what sponsors want and what you can give. One way to do this would be through offering opportunities for your brand visibility, like those listed below:
Radio, TV, newspaper, and websites
Logos on printed tickets
Signage at the event entrance (then turn those signs around before the end of the event)
Email messages before the event
Mentions from the stage or public address system
Post-event thank you message
Event programs and handouts
Social media mentions
Keep in mind, seasoned event sponsors rarely pay full price and always ask for more. They are asking to negotiate with you – have a menu of options available to them just as they do, Negotiate with the ones that matter most first; use these sparingly.
2. Find potential sponsors
Your offers and proposals are ready. You’re going to find musical festival sponsors now! Keep in mind, the smaller and less well-known your event is, the more outreach you’ll have to do to find companies willing to sponsor it. It’s likely that businesses will be far less interested in an unproven event than one with a track record of success. If your music festival is small, then you’ll need to fit tiers into places that match their sponsorship needs rather than promoting size as much as possible – instead promote niche makeup of attendees.
3. Sell your sponsorship offers
Once you have your sponsorship offers ready, start by reaching out to potential sponsors. You need to present your pitch and proposal well in order for them to agree. Your sales pitch should be professional, which means investing the time and money into making it look great with effective messaging and quality images – most importantly that offer must make sense so they can’t refuse it.
Many organizations that are affiliated with performers have already compiled presentations that might provide the data and can help sell your sponsorships. The important items to include in these presentations are:
How the event is perceived in the local community and who it appeals to
Distance traveled to get to your festival
Here are five ways to get started
1. Tap Into Your Existing Network
If you start your promotion well in advance of the event, it will be easier to close warm leads on sponsorships. Searching through existing contacts before an event begins is a great way to find potential sponsorship opportunities.
2. Look In Your Local Community
The best places to find sponsors are the local community where the event will be held. What business do you want to sponsor? If they’ve sponsored events before, then they believe that sponsoring a particular type of event is valuable. They might also decide if your sponsorship proposal is attractive enough even if it’s never done business with them before.
3. Investigate Through Social Media
Searching LinkedIn, Twitter, Facebook and other social media platforms is a good way to find out whether there are people who work for companies that would be appropriate matches for your music festival. Reach out to them about the opportunity and see if you can tell them about it! You never know who might be interested or share the opportunity with their own connections giving your offer an even wider reach.
4. Ask Google
You’re now ready to search for other music festivals in the same year, or ones that have been held recently. To do this, you can type “music festival 2017” into Google’s search bar and then add more specific dates if necessary. You will also be able to play around with your queries by adding different words like “near me,” “expensive,” etc., as well as playing around with what criteria you want your query results displayed on a map of the world showing all countries/states/cities which hold events at similar times each year.
5. Get Help From a Professional
If you need help finding the right sponsors for your music festival and want to work with someone who knows your market well, then it is important that you hire a professional sponsorship recruitment organization. If they charge you to do the search and sales work for them, be sure not to invest too much of your time in other activities so that there is still enough left over. You should compare apples-to-apples when it comes time for selecting which company offers the best deal based on their track records of success as well as their experience working with events like yours.
Music Festival Sponsorship Tips To Remember
Remember, sponsors, don’t sponsor an event because they want to help you financially or listen to your music. They sponsor events for branding and results. Don’t over-hype your event in order to find a potential sponsor if it doesn’t deliver the expected results; that will never work again with such an organization.
To ensure a successful sponsorship, you should do your research and make sure that the company is a good fit. Find out what they are trying to accomplish and how important it is to them by looking at their website, blog posts, press releases, or community involvement activities. Search for any corporate social responsibility (CSR) sections on their websites or other relevant resources in order to understand exactly how much being part of cultural and local events are important to them too. Remember that sponsorships can bring in more revenue for your event than ticket sales. Invest in sponsorship marketing and development as you would attendee advertising and promotion. AttendStar has the ability to develop sponsorship proposals alongside ticketing, marketing, and other such ventures.