Sponsoring an event can be a very rewarding way to get your company/brand known to the public, yet it does not come cheap. Like anything else, you only get more out of it if you pay more for it. In that sense, if money is tight it will be difficult for you to afford sponsoring a certain event without compromising the finances of your company. In an attempt to solve this conflict, there are a few points to think about that can help you make the right decision.
Study the event very well: Know whether your target consumers will be at the event and how many of them are expected to be there. It is also useful to know if the event is repeated (annual, bi-annual… etc.). This will help you decide whether there will be another chance for you to sponsor when your financial state gets better. Moreover, look for other events to decide whether your money is going in the right place.