In these trying economic times, producing a quality runway show with artistic integrity has become increasingly more difficult. Given the tremendous budget cuts in the marketing sectors of most large companies, runways shows have become of lesser importance when it comes to fashion vendors. Here are ten creative ways to leverage sponsorship for a runway show.
1. SMALL TIMERS: Instead of heading straight to fashion companies who still have a seemingly successful, "big time" appeal look towards smaller brands that are trying to initiate business rather than liquidate merchandise. Larger fashion vendors are more than likely sitting on large inventories that they cannot sell and are cutting spending on the back end to compensate for losses on the front end. Try tapping into the smaller, start-up companies who are looking to boost the awareness of their product. You may be pleasantly surprised at some of the smaller fashion vendors who are looking to produce runway shows in order to gain brand awareness by doing more active marketing.
2. AD MOGULS: Avoid the companies who have reputations in media advertising, whether it's television, magazines or newspapers-- these companies are throwing their budgets into a different marketing style. More than likely, companies like this have drained their budgets in order to pay their advertisers and are looking for large scale, public advertising.
3. EUROPE AND BEYOND: Although markets are suffering globally, there are still companies outside of the United States that are looking for opportunities to do advertising in order to either tap into the US market or keep their already existing products alive. Take note of fashion forward companies with a unique approach to their marketing again avoid the big names and look for labels that may not have as much exposure, but are willing to spend when it comes to producing an event.
4. REVERSE PSYCHOLOGY: Remember that in any case, it is important to state the mutual benefits when asking for an event budget. Convincing your sponsor that an event is a more successful marketing strategy for consumers than advertising with TV commercials or print is the way to garner attention. Take the stance that it is more economically efficient than wasting time with ads and will get straight into the hands of their demographic without the guessing game of results. Numbers prove results.
5. THE GREAT DIVIDE: All companies want the most bang for their buck, try securing a larger budget that will be divided to produce multiple events. This way, sponsors don't feel that they are gambling all of their money into one event. This also gives you the advantage of producing more than one event. Keep in mind that these events should not all be runway shows, but rather creative ways to spread the money out and have fashion-driven displays of the sponsors product.
6. GET SMART: Being organized is one of the most important things when trying to get budget for events. Showing the sponsor a strategic plan that explains the key demographic, other companies that may also be involved and the cross-demographic that this may produce is usually the first thing that the sponsors marketing team will look at. Post-marketing strategies are also very important, what are your media outlets for the event? Will there be video and photo of the event to be used for website use afterwards? These are good leveraging points when trying to ask for a larger budget, production costs are high so don't forget to budget accordingly.
7. LIFESTYLE BRANDS: Some of the most obvious sponsors may be seen within their connectivity to the fashion lifestyle like liquor, music, art and entertainment companies who are looking for that association with fashion. Look outside the box and find sponsors that do not necessarily have a direct tie in with fashion but are either used by the fashion industry (airlines, shipping companies even technology) or companies looking to introduce themselves to the fashion community.
8. VENUE SPONSORSHIP: One of the biggest budget eaters when producing a fashion show is the venue cost. It is important when trying to negotiate the venue for less or even free that you have the full support from your other sponsors who may have connections or better ways of leveraging a different rate. When producing an event, remember that the larger the venue name the harder it may be to negotiate a rate, especially chain venues who may have to seek approval from higher members of the offices. Also look for venues that may have access to equipment that will help to keep production costs low. Nightclubs may prove to be economically efficient for a runway event. Some already have special lighting, quality sound equipment, photographers, graphic designers (for the flyer) and even a DJ who are on retainer with the club, coming at no cost to you to keep your budget within reach.
9. IT’S ALL WHO YOU KNOW: In planning an event, think about the guest list as well. Can your favorite social networking site be of any service? If so consider them for a sponsor as well. They will be able to cover the event invite their people and have a lot of fun, while you will have a packed house that will impress other sponsors and gain potential future sponsors when you are able to show images of a full successful event.
10. PRIORITIZE: In brainstorming for the event, make a list of the top five or ten things you absolutely have to have. If you have a vision of set design or the absolute invite that you know will garner press and attendees keep your original vision, set budget for it and include it in your proposal when you are speaking to sponsors. Showing passion for your project with a definite idea helps those who are planning on giving you money understand that you are serious and want to make it the biggest success for everyone involved.
-Maggie Morgan is Chief Stylist of Akira and has worked with sponsors such as Moet Hennesey, Steve Madden, Ben Sherman and many others
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