Event Marketing: How to Successfully Promote Events, Festivals, Conventions, and Expositions

An existing or long-running event will have a budget item for
cash reserves, which allows the event to continue to operate with
a cash resource from year to year. A start-up event will need to ob-
tain the seed money from either the client or an internal source,
with the understanding that the funding will be repaid with the
first revenues from external sources.

Identifying Sponsorships to

Financially Support Your Event

According to the International Events Group or IEG, Inc. of Chicago,
Illinois, sponsorship is the fastest growing form of marketing. It is
estimated that, in 2001, entities from around the globe will spend
over $24.6 billion to sponsor a variety of events, almost quadru-
pling the amount spent in 1998 (see Figure 4-5). Sponsorship is
fast becoming the fourth arm of marketing, in addition to adver-
tising, promotions, and public relations. Although sports events
still dominate the types of events sponsored, there has been a
steady increase in other categories such as arts, causes, festivals,
and entertainment tours. Figure 4-5 details the amount of money
spent in 1998 for event sponsorships.

Identifying Sponsorships to Financially Support Your Event 91

Percentage of

Type of Event Amount (U.S. $) Sponsorship Dollars

Arts 413 million 6%

Causes 544 million 8%

Festivals, Fairs, 578 million 9%

Annual Events

Entertainment Tours 675 million 10%

Sports 4.55 billion 67%

Total 6.8 billion

Source:IEG, Inc.

Figure 4-5
While sports has long been the leader in attracting sponsors,
other types of events are attracting increasing amounts of
sponsorship dollars. This is a direct result of the greater
awareness created by effective marketing.