If you’re running an event, you may be wondering what kind of sponsorship you should include in the program. A title sponsor is one of the most important elements, and you must make sure it’s right.
What Is a Title Sponsor?
A title sponsor is a patron who contributes money, products, or services to an event in return for the exclusive right to have the patron’s name appear prominently before the event’s title.
The patron is typically a corporation or other form of business, although it can also be a celebrity, country, government agency, or any other body with the power to negotiate for sponsorship rights.
Title sponsorship is the most prestigious category of sponsorship given by event organizers and demands the largest financial commitment.
How Does a Title Sponsor Work?
Title sponsorship is a contracted marketing opportunity. Especially with larger, more prominent events, there is often a substantial financial investment.
The contract guarantees that the sponsor will invest the agreed-upon amount, even if the check arrives after the event. Additionally, it assures that the sponsor can withdraw if the event goes awry and the firm no longer want to be connected with it.
Since the title sponsor attaches its brand and goodwill to the event and the event frequently relies on the sponsor’s contribution to cover costs, the contract detailing rights and responsibilities is of the highest significance.
Event organizers sell sponsorships as marketing possibilities in order to raise funds. These chances are frequently contingent on the degree of investment made.
Each sponsorship level demands a certain monetary or other commitment to the event and grants either exclusive or non-exclusive recognition of the company’s support.
A title sponsor is often the highest-level opportunity and grants the exclusive right to have a company’s name associated with the event’s title.
The Importance Of Title Sponsor
Special events provide significant marketing possibilities for any business seeking to promote itself or its products. Companies use prominent events to identify their brands with something that has a certain prestige element and a captive audience with easily identifiable demographics.
Event organizers capitalize on this natural synergy by bundling chances to associate with certain components of the event. These affiliation opportunities are known as sponsorships.
Before the name of the event, the title sponsor should be included. A title sponsorship can appear as “XYZ’s Battle of the Stars,” for instance. A title sponsor may alternatively be referred to as a presenting sponsor, in which case the event’s title may read “XYZ Presents the Battle of the Stars.”
In either case, getting a title sponsor is one of the most crucial first jobs for event organizers, as the promotion of the event is contingent on knowing who to thank in the title. If an event’s marketing effort begins before a title sponsor is secured, investors will lose interest in the prospect.
Types Of Sponsors
Becoming a corporate sponsor can elevate a company’s image in the community.
Businesses fund events to increase their visibility and build goodwill within local communities.
Once upon a time, sponsorship was only accessible to large corporations with substantial money. This is no longer the case, as businesses of all sizes now have access to a wide variety of sponsorship options.
Although sponsorships are a component of a company’s marketing budget, they function more as a branding and community positioning tool. Most events have sponsorship levels or tiers. Consider the many sorts of sponsorship packages to identify the greatest potential for your business.
Tiers of Sponsorship
Most events provide a variety of sponsorship levels and tiers with varying pricing, allowing most firms to participate in some capacity. The definition of title sponsor is the organization that is putting on the event.
A charity golf tournament, for instance, would have a title sponsor, such as a car business, whose name would appear alongside the title of the event and on all marketing materials. The tournament’s title may be “Big Day Consulting’s Charity Golf Tournament.”
The title sponsor would be the most costly opportunity at the highest level. You may encounter categories such as platinum, gold, silver, and bronze packages as you down the tier. These are popular terminology used to describe various sponsoring opportunities.
These sponsors are monetary donors who pay to have their names used in marketing materials. Despite the fact that the title sponsor is included in the headline, a bronze sponsor may sponsor a hole at the golf tournament. Events decide what the sponsor receives at each tier level.
Cash sponsors pay money to be involved in the event. Cash sponsorships for major charity events are significant fundraising opportunities for nonprofits. A cash sponsor gets specified publicity for the cash paid. It’s like buying a commercial on television. The advertiser gets revenue, and the company gets publicity directed toward a specific target audience.
Typically, the package includes participation at any gala or ceremonial event. Depending on the magnitude and commitment of the sponsorship, a title sponsor typically receives a table or two. A smaller firm may receive attention and a handful of tickets to a gala where they may network with other sponsors.
In-kind sponsors do not swap money for marketing during the event. Instead, they offer services or provide goods in return for cash value at retail. This sort of sponsorship is appealing to a firm looking to save money on sponsorships, as the retail value is less than the real cost of creating the product.
It also allows the organization an opportunity to demonstrate its capabilities, allowing everyone to observe the caliber of the job. A t-shirt firm might provide volunteers and event attendees with complimentary t-shirts. Everyone is able to view and feel the garment and judge its quality for themselves.
A giveaway sponsor is a second sort of in-kind sponsor. A car dealership that offers a vehicle as a raffle prize is doing a sponsorship in-kind. The dealership is arranging the giveaway event since this generates a great deal of enthusiasm among participants and conversation about the automobile.
Media Sponsor Opportunities
The media sponsors have agreed to promote the event. This encompasses broadcast, print, and social media platforms. A media sponsor reduces an event’s marketing expenditures. A small business might collaborate with the event’s media sponsors through coordination.
For instance, a local company marketing expert might volunteer to create an article for the event and distribute press releases to local media outlets. This is a mix of media sponsorship and sponsorship in-kind.
Businesses fund events to increase their visibility and build goodwill within local communities. Once upon a time, sponsorship was only accessible to large corporations with substantial money.
This is no longer the case, as businesses of all sizes now have access to a wide variety of sponsorship options. Although sponsorships are a component of a company’s marketing budget, they function more as a branding and community positioning tool.
Most events have sponsorship levels or tiers. Consider the many sorts of sponsorship packages to identify the greatest potential for your business.
A title sponsor is a patron of an event that provides money, goods, or services in exchange for the exclusive right to have the patron’s name appear prominently before the title of the event.
Most events will provide title sponsors with an allotment of complimentary tickets they can use for promotional purposes such as contests or a gift with purchase for their customers.
Essentially, whilst a title sponsor is likely to be the main partner of a team, a presenting sponsor is likely to be a key partner for an event.
Three types of events sponsorships to offer
- Branding – These opportunities allow sponsors to display their logos to event attendees. …
- Lead opportunities – These opportunities give sponsors a way to collect sales leads. …
- Networking – With these opportunities, sponsors have a way to get to know attendees one-to-one.