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Entertainment Tips

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How To Get Sponsors For An Event

In the early stages of planning your event, you’re full of vision and excitement. As the theme is selected and the details start rolling out, you will have to face one crucial question: how are you going to fund this event? Chances are, unless your company has a generous budget, you are going to have to look outside the organization to finance your vision.

Outside sponsorship will likely be the most helpful option in setting your event up for success. However, it can be a challenge to find sponsorship. You may face rejection, or not get a response at all. But don’t be discouraged, there are plenty of ways to get the help you need to bring your plans to reality!

  1. Make Your Proposal Memorable

Think of the search for a sponsor as job hunting. Every chance you get, you want to make yourself stand out! After all, the company reviews dozens of proposals on a daily basis. Why does your event stand out among the other applicants?

Consider these tips to make your proposal memorable.

 

  • Start with The Story: Does your company have humble beginnings? Are you a part of an old-fashioned family business? Or perhaps you’re an open-minded hotspot for millennials? Get their attention with an emotional connection that can strike a chord with the sponsoring company
  • Give Them The Basics: Describe your mission statement and how your company lives up to that daily so that they have a clear understanding of what you do.
  • Paint Your Audience: Give them a picture of the demographic audience you are trying to reach.
  • Crunch the numbers: Be honest and detailed about the estimated funding amount needed. Elaborate on what each portion of funding is needed for, including venue rental, food, travel compensation, and so forth.

 

  1. Answer the “Why?” Question:

Sponsorship should be a mutually-beneficial relationship. Be quick to put their anxieties to rest and assure them that they will benefit from funding your event.  Whether you invite them to partake in your event, or you give them promotion and advertising, make sure they get the most bang for their buck through these incentives:

 

  • Name Drop: Begin mentioning the sponsoring company in your blog posts, emails, or newsletters.
  • Provide Incentives: Offer freebies or discounts for customers who purchase the sponsor’s products or services.
  • Get Creative: Add the sponsoring company’s logo into all of your promotional products and mediums.
  • Give Them a Follow: Encourage your followers to “like” or follow the sponsor’s social media content.

 

  1. Meet in The Middle

It can be risky for sponsors to fund your company, especially if your business is just getting off the ground. With that in mind, propose a “trial” sponsorship that will earn their trust and build their confidence.

Instead of going straight for the big bucks, first, seek out a trial opportunity in which you as for a smaller portion in exchange for something small in return. For example, if you know you will need $100,000, offer to settle for $10,000 and invite the sponsor to send one guest speaker, set up a booth, or put their logo on a single promotional item.

In this way, the potential sponsors can test the waters with your company in a way that won’t hurt them too badly if the outcome of your event isn’t what was expected.

  1. Form Partnerships with Better Established Companies

A common obstacle many brands face is that they simply do not have the name recognition to get sponsorships on their side. Partnering with other well-known companies in the same industry to form a joint event could help leverage your reputation and credibility. This way, potential sponsors will see that you and your partnering organization are capable of drawing a large crowd and are a good investment.

When seeking joint partnerships, find establishments in your corner, but avoid direct competitors.

  1. Do Your Homework

Thoroughly research each sponsor you plan to contact. Gather context by studying any current events or transitions the company might be going through so that you can find the opportune time to chime in to the existing dialogue. Are they in the midst of a new release, are they making a move across town? Or are they perhaps hosting an event of their own?

Make the potential sponsor feel known and understood by referencing their current situation, and even offering your collaboration as help.

  1. Be Confident

Attaining sponsorships may not always be easy. With effective communication, a confident proposal, and clear terms that prove the mutual benefit of the partnership, you may find yourself with a sponsorship in no time at all!

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Event Planning Mistakes to Avoid

We make mistakes. Everyone does. While some mistakes are unavoidable, it’s important to learn from them so that you can avoid making them in the future. Check out some common mistakes below and how you can avoid them!

  1. Not asking for help (enough) – no matter what stage of life or business you’re in, asking for help can change everything, but it’s important to create a relationship with the person you need help from before you ask for help. Ask for help, but build a relationship first.
  2. Not paying attention to your financial situation – It’s easy to have a financial advisor take over your finances or never open your bank statements, but sticking your head in the sand only leads to more insecurity and worry. Make sure to keep track of EVERYTHING you spend money on. Use spreadsheets, software systems…whatever works for YOU, do that.  And you shouldn’t just be keeping track of the money spent on planning an event, but also everything that is spent on running your business as a whole! Take accountability for your finances – no matter what.
  3. Not celebrating your accomplishments – it’s easy to let things pass because they’re “no big deal.” However, if you don’t celebrate even your smallest accomplishments then it’s hard to keep going when things get tough. Celebrate your successes. Always.
  4. Avoiding setting up systems – this takes time but start setting up systems as early as possible. Start by identifying what you love doing and are good at vs. those tasks you avoid because you don’t want to do them. Once you’ve got your list, find someone (whether you find an intern or hire an employee) who loves doing the tasks you don’t enjoy. Allow them to focus on the things you dislike so you can focus on the parts of planning events and running your event planning business that you love. Do what you love and delegate the rest.
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How to Attract Millennials to Your Next Event

For starters, Millennials rely heavily on social media for communication. If you can master the Millennial language, you can have success. Utilizing social media for advertising for your event is brilliant. The most important aspect is to learn your target market through an analysis.

By increasing mobile-friendly communication, you can open up a realm of opportunities. For example, if you’re hosting a networking event, connecting with potential attendees via LinkedIn will most likely present the greatest opportunity of them supporting your event. Upon inviting them, ask them to share the event with peers that may also be interested in attending.

Adding peer-to-peer elements can persuade millennials to participate and engage. Depending on the type of your event, you may be able to host focus groups or small group projects that require communication and connection between attendees.

Utilizing social media marketing is also another aspect of drawing in Millennials to your event. If you’re hosting an event for a brand, maintaining a strong social presence is crucial, especially in days leading up to the event. This is a great way to build your brand online. Posting videos and fun elements to keep viewers engaged is a great creative strategy.

An additional aspect that will urge Millennials to attend is if your event is involved with a charity. Giving back is important to Millennials and is becoming a common ground that they look for when choosing a company. Supporting a good cause is always a good idea and a bonus for attracting Millennials.

No matter if you are promoting an event for your client, your business, or yourself, doing so with Millennials in mind will help it be successful. Don’t forget to do your research and identify your target market!