Connect the Dots was last year’s TEDxSFU conference theme. As a Partner Relations Coordinator, my goal was to find sponsors that not only added value to TEDxSFU but also aligned with the overall goals of TEDx. Sponsorship can be an uphill battle for any student-led initiative. First, we compiled a list of warm contacts. Warm contacts are companies who have sponsored previously or those we have personal connections with that can get us a leg up in receiving funds. We also reached out to many cold contacts that would be a good fit for TEDxSFU. Beedie always encourages us to be engaged and connect with others when networking because we never know when even small contacts will come useful. The networking and pitching skills I have learned as a Beedie student, was beneficial in hunting down the amazing line-up of sponsors we had for this year.
Even with this arsenal of skills in hand, it was still difficult to demonstrate the value and passion everyone had for TEDxSFU. After meeting with Student Engagement Office, I have come up with a list of tips for securing sponsorship:
- Build thick skin – You WILL get rejected. Not just once, but more times that you can count. Never take it personally as businesses are just doing what is best for them, just as you are doing the best for your event.
- Go Big! – Do not be afraid to ask for more. It can be an intimidating task, but it’s better to leave more room to negotiate. It is not overselling but showing the company you believe in your project.
- Do your research – Show the company you are interested in them and why they should be interested in you. Demonstrate how your event’s goals align with their company values. When you show that you have taken the time to get to know them, it makes you worthwhile to listen to.
- Monetary Value – Assigning a monetary value to partnerships can be tough. Present the benefits the company will receive when partnering with you in exchange for supplying their products and/or services. Benefits such as exposure are worth a monetary value; so do not be afraid to value your event fairly. As long as you have convincing points to support your evaluation, companies will listen.
- Warm Vs. Cold – Cold-calling can get tiresome, making it easy to lose motivation. What I would suggest is to use the extensive connections you have already built. Ask friends, family and other team members if they have any connections. Solely cold-calling can be quite a gamble so use those warm contacts first can build confidence to reach out to new sponsors.
- Sustainability – Is there any way you could build a long term relationship with this sponsor? If this is an annual event, look for opportunities to have the sponsor sign on for multiple years. Offering perks such as inviting sponsors to assist in planning and organizing next year’s conference will give companies a reason to stay. Plus, you will receive the insight and guidance of an already established company that could lead you in a new direction.
Sponsorship can be challenging but also rewarding. Once you secure your first sponsor, the rush of wanting to get more will follow. Staying motivated is extremely important even if you are not having much success. Change your pitch, reach out to more networks, re-vamp your sponsorship package! Do what it takes to make your event successful.
Tiffani Lee is a 3rd year Business Student looking to concentrate in Human Resources and MIS with a minor in Health Sciences. She wants to use her business degree to improve healthcare systems within Canada through quality control and patient experience. Passionate about engaging in the SFU community, she has participated as a member of the first Pathways street team, Young Women in Business and as an executive member of SFU’s first sorority. Tiffani is excited for the rest of her Beedie journey and looks forward to exploring the new opportunities and adventures that await.