A look into the Marketing and Sponsorship department of Spandan.
Recap
In my previous blog, we discussed the central departmental segregation for Spandan, the annual media fest of VIPS - TC, Delhi.
Spandan, as an event, has 6 vital departments - Editorial (Designing + Social media + Documentation), Production, Ambience, Hospitality, Security, and Marketing & Sponsorship.
In the previous blog, we discussed the role and responsibilities of all the departments but one, i.e., Marketing and Sponsorship.
In this blog, we’ll touch upon the concepts of marketing and sponsorship from an event point of view, the sponsorship deck, the tariff card, the roles and responsibilities of the department, etc.
Marketing - Definition, Concept, and Process
Marketing (in relation to an event) refers to the specific tactics and strategies used to promote and sell an event to the target audience. The main goal of marketing an event is to generate the target audience’s interest in your event and encourage them to attend.
There are numerous ways to market an event, but your specific approach depends on the nature and scale of your event, your target audience, and your budget. Some ways to market an event are using social media for promotions, creating a website, email marketing, targeted advertising, promotional material such as flyers and posters, and spreading word-of-mouth.
Marketing an event is a step-by-step process:
Determine your target audience, i.e., the people who will most likely attend your event.
Set marketing goals - What do you want to achieve? Ticket sales? Buzz creation?
Create a marketing plan to achieve your marketing goals. A marketing plan outlines specific tactics and strategies to market your event.
Implement your marketing plan - Put your marketing plan into action, and start promoting your event.
Measure and analyse the results of your marketing efforts and identify areas of improvement.
Adjust and refine your marketing plan as needed.
Overall, marketing an event can be challenging, as it requires a thorough understanding of the event and its target audience and the ability to create and execute a successful marketing plan. When done right, it can pay off in terms of increased attendance and awareness.
What is Sponsorship?
Sponsorship is financial or in-kind support a company provides to an event, individual, or organisation. Companies usually issue sponsorship in exchange for marketing and promotional opportunities, such as the ability to display their logo or product at an event or the opportunity to reach a specific target audience through the event’s, individual’s, or organisation’s marketing channels. Sponsorship increases the visibility and prestige of a college fest by making it more attractive and buzz-generating.
Why do college fests need sponsorship?
College fests need sponsorship to cover the costs of organising and hosting the event. It includes expenses such as decor, stage, light and sound, equipment rental, food, hospitality, gifting, prizes, costumes, marketing and promotion, hiring outside agencies for production, security, etc.
But sponsoring a college fest is equally or even more beneficial to the companies. Along with providing them with brand exposure, it also gives them an opportunity to
market their product or service directly to the audience,
network with other businesses, students, and faculty members,
demonstrate their commitment towards supporting the local community and education,
and identify and recruit talented students for internships or full-time positions.
Sponsorship helps foster long-term and meaningful relationships between the company and the college.
How to get sponsorship for a college fest?
Securing sponsorships for a college fest can be tricky sometimes. Don’t worry! Here is the general process/tips to generate sponsorships for your event:
Identify potential sponsors: Research and make a database of companies interested in sponsoring your college fest and whose values, goals, and target audience aligns with your event. Consider targeting local businesses, as well as national and international companies with a presence in your area.
Create a sponsorship package: Develop a sponsorship package to outline various levels/tiers of sponsorship available and the benefits of each level. Be sure to clearly communicate the marketing and promotional opportunities that sponsors will receive in return for their support. The sponsorship package can include a sponsorship proposal/deck and a tariff card (next section).
Reach out to potential sponsors: Contact potential sponsors through email, phone, or in-person meetings to pitch your college fest and the sponsorship opportunities available. Be sure to follow up in case you don’t receive a response.
Negotiate sponsorship agreements: Work with potential sponsors to negotiate the terms of sponsorship, including the level of support provided and the marketing and promotional opportunities offered in return.
Sign on the dotted line: Close deals with sponsors and get a Memorandum of Understanding (MoU) signed. An MoU is a legally non-binding document that outlines the terms and conditions of a sponsorship agreement between two parties. It defines the rights and obligations of the sponsor and the event organiser.
Foster relationships with sponsors: Build and maintain strong relationships with sponsors by regularly communicating with them and showing the value of their sponsorship. It can help ensure that they continue to support your future events.
Sponsorship Deck
A sponsorship deck or proposal is a presentation/document to pitch a sponsorship opportunity to potential sponsors. It helps event organisers in securing financial or in-kind support from a company. The sponsorship deck’s goal is to persuade the potential sponsor to invest in the event by providing in-depth information about the event, the organisation, the levels and benefits associated with each level, and the terms and conditions of the sponsorship agreement.
How to make a Sponsorship Deck?
Companies receive dozens of sponsorship decks during the fest season, so your proposal must stand out to hold their eye. A sponsorship deck must include the following:
Purpose of the sponsorship deck at the beginning
An overview of the event and the organisation
The purpose, target audience, history, milestones, past media coverage of the event and the organisation
Marketing and promotion opportunities available for the sponsor like display of logo, distribution of marketing material, social media promotion, etc.
Benefits available to the sponsor, like access to attendees or participants, VIP experiences, etc.
The sponsorship levels/tiers and the benefits associated with each tier.
Photos or videos to illustrate the event.
Supporting information like a list of past sponsors
Call to action, i.e., the contact information of the student and teacher coordinator.
Tariff Card
A sponsorship tariff card is a document that outlines the sponsorship rates or fees for an event, project, or organisation. It may include different sponsorship levels (for example, Platinum, Gold, Silver or Title sponsorship, Co-sponsorship, Associate sponsorship, etc.), with each level offering different benefits or perks to the sponsor. It includes details about the promotion and visibility sponsors can expect to receive in return for their support.
A sponsorship tariff card can either be a separate document or can be included in the sponsorship deck as well.
Marketing and Sponsorship department of Spandan
Spandan, the annual media fest of VIPS - TC, has a separate department of Marketing and Sponsorship which primarily looks after generating financial support for the event. Further, it is categorised into 4 sub-departments - sponsorship generation, stall-selling, ticketing, and souvenir advertisement. We’ve understood sponsorship generation in the previous sections. Let’s look at the rest of them briefly.
Stall-selling deals with selling stall spaces to food, product, educational, and promotional companies for the entire period of the event.
Ticketing, as the name suggests, is responsible for selling tickets to the event.
The souvenir advertisement department brings advertisements to publish in the post-event souvenir magazine.
The Marketing and Sponsorship department makes the backbone of Spandan, and it’s not necessary to be a pro to join the department, as it is all about learning and growing together.
In conclusion, marketing and sponsorship are crucial for a college fest’s success. Marketing means promoting an event to attract and keep attendees, while sponsorship is the financial or in-kind support a company provides in exchange for visibility and promotion.
Overall, marketing and sponsorship for a college fest require careful planning and execution, but the efforts can pay off in terms of increased attendance, awareness, and financial support.
Comments
Post a Comment