As an event organizer, you are most likely going to need sponsorship that will provide financial backing for your event. Most brands usually include event sponsorship in their annual budget, and that is why you are in luck. Some organizers go for a tiered sponsorship model where they give brands different sponsorship levels in exchange for funding. Each level, which could be represented by tags like Gold, silver, and bronze, has different packages and costs.
These brands, however, do not do it for charity; they mostly do it for brand awareness, marketing, PR, and brand visibility. They expect a mutualistic relationship that will benefit them as well. Thus, your potential sponsors will need an offer that will meet their needs and not what you think they need. Offering them what you think they need is the framework of a tiered sponsorship model, and this is one way of getting your proposal in their trash can.
Here is why tiered sponsorship levels do not work anymore.
Lack of Exclusivity
The absence of exclusivity is why the tiered sponsorship model does not work anymore. This model has been designed into levels with sponsorship packages to achieve your funding goals for your event without having the sponsor's specific needs in mind.
Absence of Synergy with Brand Goal
Because of a lack of exclusivity, this model does not usually align with the mission or goal of the brand. Brands typically have a specific goal they want to meet when sponsoring an event, but the tiered model will only morph everything they feel a brand needs under one level without knowing the brand's needs and their audience.
For instance, maybe a brand needs to sponsor a panel discussion session to meet a unique goal of their brand, but the particular sponsorship level they want does not offer that, and their budget cannot afford a higher sponsorship level.
Lack of Options for Sponsors
The tiered level model does not give room for options for your sponsors. The sponsorship packages are arranged in such a way that the brands have to pick one level that might only have 60-70% alignment to their specific needs as opposed to having 90% or even a 100%.
You End up not Reaping the Full Benefits of The Sponsorship Deal
Because you have already designed sponsorship packages based on what you need and not tailored to what the sponsors need, you lose an opportunity to use some of the resources you never knew the brand could provide. These resources can include human resources, equipment, and other logistics. They may be unwilling to give out money alongside these resources since you have already designed the packages to suit the needs of your event.
All the above will show you that the tiered sponsorship model is outdated. If you want to get your sponsorship proposal to be approved speedily by brands, you have to make them feel that as much as you care about their funds, you also care about their brand.
To achieve that, the sponsorship model you need is the A La Carte Sponsorship Model. This sponsorship model is like a partnership with a potential sponsor where the sponsorship packages are designed to meet their brands' specific needs and goals. It is the exact opposite of the tiered level sponsorship model.
Benefits of the A La Carte Sponsorship Model
An event sponsorship package tailored to the needs of your potential sponsors is one of the key benefits of this model. You do not have to guess what they need, but as partners, they tell you what they need, and then you go ahead to customize it to suit these specific needs.
It Gives Them Options
This model relies heavily on pre-planning communication with the potential sponsors. This means that before you make decisions like choosing a venue or other important decisions, you have to involve the brand. It gives them options to select a part of the event they would like to sponsor.
Aligns with Brand Goals and Mission
During the pre-planning meeting with the brands, you will have an opportunity to ask them questions that will fulfill the Sponsorship customization package. This will include questions like their target audience, how they connect with them, and the essential items they would like to see in their sponsorship package.
Improves Brand Visibility
When a customized package aligns with brand goals, it helps improve brand visibility, and this is a great marketing move. Knowing their target customer and how they can interact with the brand during the event will help them win potential customers. For instance, maybe sponsoring the event’s speaking engagement session will help the guests understand the value they offer in the area of knowledge progression. The event guests will get to connect with these brands during this session, and seeing that your event will provide them with this possibility will increase their chances of sponsoring it.
You Reap the Full Benefits of Sponsorship Deals
Partnering with your event will enable sponsors to release the full might of their resources that you never knew existed and may not even be a part of the sponsorship package you are designing. These benefits may include resources and more visibility for your event.
Offers More Value to Your Guests
A suitable sponsorship deal will be more valuable to your guest. When your event has all the required elements needed to make it a success, it will offer more value to your guest as the sponsors get to provide all the necessary resources that will make your guests comfortable as well as make the event beneficial to them.
Compared to A La Carte Sponsorship Model, the tiered levels sponsorship model does not offer full benefits to sponsors and may increase their possibility of saying No to your proposals. Therefore, if you want to get more support that will provide value to your guests, you need to customize your sponsorship packages to satisfy your sponsors.