How do you make your event sponsorships sustainable?

1 Align your goals

Before you approach any potential sponsors, you need to have a clear idea of what you want to achieve from your event sponsorship. What are your objectives, metrics, and expectations? How do they align with your overall event strategy and vision? How do they match the needs and interests of your sponsors and attendees? By defining your goals, you can communicate them clearly to your sponsors, create a value proposition that appeals to them, and measure your success.

2 Choose your sponsors wisely

Not all sponsors are created equal. Some may offer more value, exposure, or credibility than others. Some may have a better fit with your event theme, audience, or mission. Some may have more resources, flexibility, or experience than others. To make your event sponsorships sustainable, you need to choose your sponsors wisely. Do your research, ask for referrals, and vet your prospects. Look for sponsors who share your vision, values, and goals, and who can offer mutual benefits and support.

3 Create a win-win partnership

A sustainable event sponsorship is not a one-time transaction, but a long-term partnership. You need to create a win-win situation for both parties, where you both get what you want and need from the sponsorship. To do this, you need to understand your sponsors' goals, challenges, and preferences. You need to customize your sponsorship packages and benefits to suit their needs and expectations. You need to communicate regularly, transparently, and respectfully. And you need to deliver on your promises, exceed their expectations, and show your appreciation.

4 Diversify your sponsorship sources

Depending on one or a few sponsors for your event can be risky and limiting. If they drop out, change their terms, or fail to deliver, you may lose a significant amount of revenue, exposure, or credibility. To make your event sponsorships sustainable, you need to diversify your sponsorship sources. You need to seek out sponsors from different industries, sectors, or niches. You need to offer different levels, types, or formats of sponsorship. And you need to explore new or innovative ways to attract and engage sponsors, such as online platforms, social media, or gamification.

5 Evaluate your sponsorship performance

To make your event sponsorships sustainable, you need to evaluate your sponsorship performance. You need to track and measure the results of your sponsorship activities, such as impressions, leads, conversions, or feedback. You need to compare them with your goals, metrics, and expectations. You need to identify what worked well, what didn't, and why. And you need to use this data and insights to improve your future sponsorships, such as by adjusting your strategy, refining your benefits, or strengthening your relationships.

6 Renew your sponsorship relationships

A sustainable event sponsorship is not a one-off deal, but a recurring opportunity. You need to renew your sponsorship relationships, not only for your next event, but also for the long run. You need to follow up with your sponsors after the event, thank them for their support, and share your results and feedback. You need to maintain contact with them throughout the year, update them on your plans and progress, and invite them to your other events or activities. And you need to re-engage them for your next event, offer them incentives or exclusivity, and show them how they can benefit from continuing the partnership.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?