When Louisville’s Triple Crown of Running – a series of three springtime road races – folded this month after 35 years, organizers blamed lower participation and diminished sponsorships. Despite a strong economy, businesses can be reluctant to sponsor events. Here’s how to keep your event afloat:
1. Calculate the value of sponsorship packages, from logo placements to social media mentions. Businesses are looking for at least 2:1 ROI. Building your social audience increases the value.
2. Dig beyond demographics. Why are your attendees especially well-suited to your sponsors?
3. Report back measurable results, highlighting where you exceeded audience or interactions.