Party Ace Partnerships
How Your Event Can Benefit With Valuable Partnerships
When putting on an event, it’s important to not only cover costs – but to make a profit too. 26% of paid-event organizers count on ticket sales to bring in 80% or more of their income, but the most significant secondary stream is sponsorship – with 29% of all organizers generating a sponsorship income.
Pairing up with another company in a complementary industry doesn’t just bring in a boost of cash; it aligns your event with their brand – its voice, popularity, ethics and most importantly – its customer base.
This does mean, however, that it’s extremely important that you are selective and careful with your choices for partnership.
What You Should Be Looking For in an Event Partner
Firstly, you need to look at your own brand and event. What sort of event are you putting on? Who are the people you are aiming at? What are their interests? What other brands do they enjoy and interact with?
Once you’ve got an idea of who your audience care about and for, you need to look at these brands.
what voice do they speak with?
Do their ethics and morals match yours?
How well known are they?
There are positive and negative aspects to consider when picking partners – are they well known, trending, or losing popularity? Will the impact of their sponsorship overshadow your event? Have they been the subject of any scandals or negative publicity recently?
Once you’ve chosen your potential partners, you need to get in contact with them – be polite, find out the correct contact channels and the name of the person you need to speak with. Describe your event, what you’re aiming to achieve, what you believe in – and how you believe that their brand is the perfect match for yours.
Some brands may reject your offer, but others may be keen to work with you. Make sure that you’re prepared to continue without sponsorship or partnership so you don’t risk letting your audience down.
Your partner doesn’t have to be someone in exactly the same industry – if your target audience largely shares the same interest in clothing or shoes, for example, you could look for sponsorship. Or you could partner up with a company that offers a service – such as security or lighting, with the idea of using them for your events if they recommend your services to their own clients.
The partnerships that you form will depend on your individual needs.
Boost Your Revenue Streams with the Right Partnership
The benefits of additional exposure can increase your visibility, desirability and open up additional potential revenue streams such as merchandising.
Partnerships may also last beyond the initial event – if your brand and theirs connects well, and the audience is happy with the results, you could cultivate a long-term strategic partnership, which will benefit you both.
At Party Ace, we believe in offering Promoter Deals and offering recommendations to help with the success of your event. We’re even open to partnership opportunities ourselves – where we can help you with introductions to interested parties, and merchandising opportunities.
Partnerships and Sponsorship of events can help you build valuable connections, not only to put on a successful event at the time – but leading into the future.