How to Attract Sponsorship for Live Musical Event

Are you planning to organize a musical live performance or music carnival? You will need lots of funding to organize a successful gig.

Live musical performances are huge earners for event promoters if done properly. The job is challenging and requires good organizational and management skills.

Funding is needed to lease equipment, workers wages, security and marketing. Marketing, promotion and branding consumes about 35% of total investment.

The primary obligation between a sponsor and organizer is brand representation and funding. To attract funds you need to first identify potential sponsors or partners. Before seeking sponsors there a few things you need to put in place.

Set-up the Company

You need to set-up the company or organization to facilitate the event. You could register the company and choose a business name.

Other requirements are permits to host the event, inventory, engineers and invited artists. The next step is to choose an ideal location or venue for the event. Finally seek sponsors to aid fund raising for aspects of the preparation.

Inventory and Cost Consideration

You need to calculate exactly how much you need to host the event. Cost consideration includes equipment, stage, engineers, lighting and artist fees. Others are promotional and marketing considerations.

A list of inventory

• Select a suitable venue
• Lease speakers and sound equipment
• Lease elevated stage
• Lighting
• Provide security
• Print promotional items and tickets
• Artist wages

How to Attract Sponsorship for Live Musical Event

Sponsors Criteria

Things that sponsors look at include size of audience and target market. If the target market falls within the sponsors preferred demography there is likelihood of participation.

Benefit to Sponsor

Before a sponsor decides to fund or participate in an event they need to understand the benefits. Most companies focus on enhancing visibility, image and identify with consumers of the brand. Brand visibility is a very attractive proposal for sponsorship interest.

Sponsorship Fees

 The fees depend entirely on the promoter of the event and the amount of money involved.  Although a promoter could assign different amounts to specific requirements, the sponsor is bound only by the amount they wish to contribute.

The sponsor could decide to contribute in kind such as making their products available free or discounted. They could also decide to contribute a lump sum depending on their corporate strategy. Some even contribute both in kind and financial backing.

Terms and Conditions

Terms and condition could be subjected to contractual agreement. The two sides should agree on a consensus determinant on how much they wish to contribute. The promoter needs to use the services of a lawyer to draft the sponsorship document.

The parties to the contract are the sponsor and event promoter. And the objective of the sponsorship contract should be clearly indicated.

Objectives include sponsors agreement, duration of the agreement and method of endorsement. This also includes the type of promotional material, brand image, trademark or name. The agreement should also specify the contributory amount or quantity of product on day of event.

The Promoter’s obligations

In the contract the promoter’s obligations should be clearly understood. The main obligations usually revolve around product branding, attendance, marketing material and promotion. Other obligations are organizing a successful event and attracting a huge crowd.

Sponsors compensation includes proper product branding and exposure to the audience. The promoter is obligated to provide a successful show and provide lots of promotion.

Brand Awareness

The promoters of the event need to provide good opportunity for brand awareness.  They can use different methods to create brand awareness.

A common method is through traditional printing of banners, flyers, billboards and posters. Other methods are through radio jingles, television advertisement and road shows.

T-shirt, face caps and wristbands are also good branding opportunities. Sometimes the deal include event accessibility and ticketing

Length of Contract

A contractual agreement could focus on a one time deal or multiple events. The agreement may focus only on local events or extend to international events.

There also has to be a clear indication of sponsorship exclusivity or multiple sponsors. This is to avoid conflicting brand or competitive brands in the same event.

There are serious consequences when an event fails to take place. Therefore both parties should agree on a consensus form of restitution.

You can add provisions in the contract such as confidentiality, integrity, applicable law, jurisdiction and third party. You also need to ensure the protection of copyright imagery.

Event Planing Business

Where to Find Sponsors

Major sponsors of events are beer companies, manufacturing companies, fashion industry and telecommunications. Other type of sponsorship is through crowd funding.

How to Write a Sponsorship Letter

The first step is to identify the company you want to approach. Then write a proposal indicating sponsorship request.

Provide details of type of event, expected audience and musical groups invited to perform at the event. State in your letter the benefit to the sponsor, such as product banding and promotions. Include further details of promotional channels such as print or electronic media. In your letter show competence, credentials and other successful events you organized.