Sunday, April 5, 2009

Sponsorship Blues Hit Festivals

Festivals throughout the world are tackling the same problem - how to put on an event during an economic downturn? Sponsors are backing out or reducing their financial contribution. They're taking the pencil to their balance sheet and cutting non-essential expenses.

One way is to really examine your festival. Are there components that work extremely well? Others that are fun and exciting, but drain the budget? Do you have elements of your festival or event that people enjoy, but are a turnoff for sponsors?

MARKETING TIP: It's okay to eliminate some of your festival - and focus upon the parts that bring you money and people. If you were having to do it during a time of global prosperity, John Q. Public would question your actions. But the time is ripe to not only cut the budget, but also trim your event.

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