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Tips

Forecasting

  • The downfall of many events is over-optimistic forecasting on ticket sales, trust funding and sponsorship revenue in the early budget planning phase. Be conservative in your budget estimations. Take a ‘worst case scenario’ approach.
  • Ask an experienced major event professional to 'reality check' your forecasting.

 

Sponsor procurement

  • Both prospective New Zealand sponsors and trusts can be very reluctant to sponsor one-off events as they generally prefer longer-term sponsorship deals.
  • Aim to include the event sponsorship benefits in a longer-term legacy project/plan with the partner or rights holder organisation, to help maximise funding opportunities. For example, link your event sponsorship to a longer-term sponsorship opportunity with the host sports organisation if applicable.
  • Develop tailored proposals specific to the companies approached – avoid the ‘shotgun’ method.
  • Be flexible – all sponsors and suppliers vary as to their objectives, ambitions, personalities and how much they will get involved in and support the event.
  • Approach prospective sponsors at least 12 months out to meet company budgetary rounds. Don’t leave it too late.

 

Sponsor servicing

  • Treat local and central government providers of funding in the same way as you would a sponsor, by ensuring they receive a good return on their investments – see leverage and legacy module for more information.
  • Keep a fair balance between all of the sponsors and official suppliers, with transparency as to their rights and benefits.
  • Look after your sponsors, and ensure they are happy with the deals they are getting, both up to and at the event.

 

Last updated 9 January 2013