9 Dos and Don'ts for Securing Sponsors for Your Virtual Gala

This post was contributed by TravelPledge.

You're hosting a virtual gala. You’ve planned what tools you’ll use, what activities you’ll include, and who you’ll invite. The only thing left to do is secure your corporate sponsors.

While you may already have a portion of your budget set aside for planning your virtual gala, corporate sponsors can offset the cost and allow you to funnel more funds back toward your beneficiaries.

This post will cover the key dos and don'ts to building your target list for securing sponsors, making a compelling ask, and retaining sponsors year after year. Let’s get started!

1) DO: Ask Your Organizational Contacts and Personal Connections

There's no better place to start your list of target sponsors for your virtual event than with businesses that have previously contributed to your nonprofit.

On the flip side, any businesses to which your organization has contributed should also be on your list. Include every business that benefits from your nonprofit's work or any vendors where your nonprofit regularly writes a check.

Additionally, leverage your personal connections: yourself, family, friends, coworkers, neighbors & anyone who owes a favor. Identify where they work, shop or otherwise have a meaningful connection, and ask for an introduction.

2) DON'T: Add Every Business to Your List

After listing your organization's contacts and personal connections, you may feel the need to contact every local business for a donation.

However, you'll spend loads of time churning through your list, and your pitch will feel impersonal. Rather, filter targets based on where you can make a compelling pitch.

For example:

• Does the business's target customer overlap with the interest and demographics of your attendees? For example, if your audience is relatively affluent, consider local lawyers, accountants, financial planners, bankers, real estate agents and car dealers. You can also leverage data to prove your event’s relevance to a company’s audience. In this case, you can let businesses know the percentage of registered attendees who fall into a certain tax bracket to show your audiences align.
• Have you seen the business sponsor other organization's events? When a business sponsors another organization's event, it indicates that they value this type of promotion and may be open to working with your nonprofit. Research the nonprofits they’ve worked with in the past to see which types of events they’ve sponsored and the benefits they received in return. That way, you’ll have a better idea of what they’re looking to get out of a partnership with your nonprofit.
• Does this business have a sponsorship page on their website? Businesses with a sponsorship page are much more likely to consider sponsoring your virtual gala. Check to make sure you adhere to any criteria they list. For example, some companies may only sponsor organizations with sustainability-oriented missions.

If the answer isn't "yes” to at least one of these questions, the business isn't likely worth your time.

3) DO: Make Some Test Phone Calls

You've done the work to build a great list of target businesses. Wouldn't it be a shame if you completely missed the mark on the messaging or contacted the wrong people?

To perfect your approach, pick ten or so businesses that are middle or lower priority targets and call them to ask for support. You will feel comfortable talking with these prospects and they are great "warm ups” to new companies that you pitch.

If they agree, then great! If they reject you, learn as much as you can about their decision making. Who makes decisions and when? How has the pandemic affected their corporate giving? What messages resonate and what falls flat?

While you may decide to email others on the list instead of calling, calling your test sample is important so you get immediate feedback.

4) DON'T: Send the Same Message to Everyone

While it's easy to send your boilerplate sponsorship pitch to each business's info@...com email, you'll more than likely reach the wrong person or be immediately dismissed as another charity asking for a handout.

Rather, you want to personalize your message to focus on the primary reason each business might give.

For example, suppose you are targeting a small law firm that specializes in estate planning. Then, your messaging should focus on how your event can help them build awareness among a wealthy and older demographic.

Your "ask” should be that they join you at the "Supporting Sponsor” giving level, since a small business is not a good candidate for title sponsor.

This personalization will get the business's attention and show them that you care about driving customers their way.

5) DO: Emphasize the Promotional Benefits of Virtual Galas

Perhaps you have a list of businesses that have sponsored your in-person gala in the past. They're probably wondering if they will get the same promotional benefit at your virtual gala.

In fact, you should argue they will get even better promotion than they did before:

• Your online audience is much larger
• They'll be promoted for multiple days at your online auction.
• You can hyperlink their logo to a special offer on their website.

Additionally, there are many more things to sponsor, like gala-in-a-box, mailed programs, pre-show slides, AV expenses, streaming software and more. Bring these examples to life with mockups featuring their logo.

If your prospect is still skeptical, you can bundle in additional promotional opportunities throughout the year, like inclusion in a future email blast.

6) DON'T: Apologize for Asking

If you are willing to request sponsorship from a business, you should never apologize for doing so. After all, you are trying to convince the business owner that you are providing a valuable promotional opportunity. That's nothing to apologize for.

The next time you are on the phone with a target business, avoid saying, "Would you please consider supporting our event? Sorry if it's a bad time. It's OK to say no.”

Instead ask, "Will you support us by becoming a silver tier sponsor?” Then, hold the silence until the recipient responds.

Awkward? Maybe. Effective? Yes.

Another way to pivot the conversation is to ask if the business can provide in-kind donations. For example, they could provide items for a silent auction items for a silent auction or food for your staff. That way, companies who don’t currently have the financial means to sponsor your virtual gala monetarily can still contribute in a meaningful way.

7) DO: Create A Sponorship Page

Just as you’re trying to figure out which businesses are the right fit to be your sponsors, companies may be searching for nonprofits that match their sponsorship ideals. To encourage interested businesses to reach out, create a sponsorship page.

On this page, you can list important information about sponsoring your organization, such as:

• Your sponsorship levels
• The current projects or initiatives you need sponsorship for
• Any criteria you’d like sponsors to have, such as certain company values
• Contact information for interested businesses

This page will help initiate some potential partnerships without your team manually reaching out to each interested company. Additionally, when you do reach out to prospective sponsors, you can direct them toward this page if they’re in need of more information. Once you’ve secured some sponsors, add a frequently asked questions section to your page that will cover the basics of your sponsorship process.

8) DON'T: Forget To Draft A Sponsorship Agreement

When you secure a sponsorship, make it official with a sponsorship agreement. Outline your goals and expectations for the partnership. Make this a collaborative process by asking the company to submit their goals and expectations as well.

You can also add your plans for how you’ll recognize the sponsor for their support. Be specific about how you’ll advertise the sponsor before, during, and after the event, whether that’s through adding their logo to mailed programs, adding slides about the company in your slide deck, or giving them a social media shoutout.

Drafting a sponsorship agreement ensures that everyone’s on the same page. It also shows that you’re committed to your partnership with the sponsoring company and want to make sure that both parties get the most out of the relationship.

9) DO: Follow Up After the Event

While your pitch to sponsors may be focused on the promotion they will receive, they will also like to know the results of your event.

This will deepen your connection with the business so that next year they will step up to the plate again for your cause.

Call your sponsors to thank them for their support, share the total amount raised and the projects you plan to pursue with the money. Hand-written notes are always a nice alternative to calls.

You can also get creative with your sponsor recognition by sending them thank-you eCards or branded merchandise. eCards are a great way to switch up your traditional thank-you email while branded merchandise, such as hats or t-shirts, allows sponsors to show further support for your cause.

Guest Author: Alex McDonald

Alex McDonald is the Director of Customer Experience for TravelPledge, your benefit auction's connection to generous business owners. Alex manages TravelPledge's content strategy and customer onboarding. He is passionate about helping nonprofits exceed their auction goals.