Collaborations and sponsorships are an awesome way to build relationships that are mutually beneficial for both your business AND theirs. Fantastic events will utilise collabs and sponsorships to create epic event experiences and guest take-homes such as gift bags or door prizes. Check out our Top 5 Tips to help you secure the right type of collaboration, and how to maintain your sponsor relationships!
1. Always keep your ear to the ground for new opportunities
It’s helpful to be on constant lookout for new partnership opportunities, whether you're reading the Business News, going to events, joining networking groups or even through social media. Like-minded brands and businesses are easy to find when you look in the right place! You will eventually find someone you synergise with that is eager to work with you.
2. If you don’t ask, you don’t get - the worst they can say is no!
Don’t be afraid to put your business out there and contact brands you think would be a great fit for your business or event. By reaching out, you show that you are putting in the time and effort to really understand that brand and what they do well. If they aren’t able to collaborate or sponsor at the moment, make sure to keep in touch as a budding new business relationship that could lead to fruition later.
3. Always make sure you have considered what’s in it for them, and have this clearly documented
Collaboration is not about getting free products and exploiting brands, but is about working together to create something that benefits EVERYONE. Understand what you can offer and make sure you can deliver. It’s essential you document everything you’re providing for collaborating businesses, as this will give both parties a guide to look upon later for clarification on what is expected and guaranteed.
4. Double check their values and mission align with your brand
Choosing an appropriate collaboration or sponsorship partner is a MUST, as conflicting brand values and missions will create confusion and disrupt your brand identity. The best collabs work well when both businesses strive for the same outcome with the same target audience, and can work together to create something fabulous.
5. Don't over-promise and under-deliver, always aim to have longevity in your relationships
Be upfront about who your business is and what you can do for other brands. Once the deal is done, don’t forget to give your sponsors some love by checking in with them on how they feel the partnership is tracking and any new exciting ideas. Sending out thank you gifts, sponsor reports and having a debrief meeting are all great ways to keep the partnership alive.
If you’re not utilising collaborations and sponsorships for your events, this is a great time to start!
Click HERE to download your FREE sponsorship matrix to make sure you meet all your collaboration requirements.
To access Behind the Clipboard Episode 15 and hear the ins and outs of event collaborations and sponsorships click HERE.