Getting the sponsorship of a large company for your business, project or event can give you greater exposure and increase your opportunities. However, to partner with a company, you will need to create a compelling argument to get them to participate in your project. There are a few simple steps to creating effective and professional sponsorship packages.
Steps
Part 1 of 3: Identify Potential Sponsors
Step 1. Look for companies that sponsor other events or activities similar to yours
Use previous research from other organizations to your advantage. If you are looking for a sponsorship for a special running or walking event, look for other races in your area and see what sponsors they have. This could be a good place to start.
- If your event is sporting in nature, consider Nike, Adidas, Livestrong and other sports-related organizations as possibilities.
- If you are doing a music event or concert, consider local radio stations, music publications, and other businesses with similar interests.
- If your event is gastronomic, consider Gourmet magazine, Food Network, and other large food conglomerates. Aim high.
Step 2. Create a list of potential sponsors
Having a large list of potential sponsors is great, but you will have to ask all the people and companies you meet if they want to sponsor you. Your list should be made up of potential sponsors, that is, people or companies that could really sponsor you. Include companies that have sponsored you at other times, companies that have sponsored other ideas similar to yours, or companies with which you have some type of personal contact through which you can get sponsorship.
Step 3. Research each company or person on your list
Having background information on potential sponsors will go a long way toward finding sponsors. Think about what benefits they would get from sponsoring you.
Step 4. Anticipate the needs of each potential sponsor
By knowing the demographics, business model, and goals of your potential backers, you can start to develop an idea of how you should go about getting sponsorship.
- For this reason, local businesses are often a better option than large corporations like Nike. While Nike is a big money company, it probably receives hundreds of sponsorship requests a week. The local radio station or sporting goods store? Surely not that many. And if your customer base overlaps, this will be an increase in your profits.
- Consider taking advantage of sponsorship rivalry. If a sporting goods store on the west side has already committed to you at a certain level, mention that to the sporting goods store on the east side of town. They will get the hint.
Part 2 of 3: Create a sponsorship package
Step 1. Write an executive summary
A sponsorship package should always begin with an executive summary or mission statement for the event or business that you want sponsored. This should contain between 250 and 300 words that describe in detail the activity to be financed, why you are looking for sponsors and how the company will benefit from providing you with sponsorship.
- Your executive summary is your only chance for potential backers to continue reading, so you should write an original letter. Write an individual note so the potential sponsor feels that you took the time to learn about them and their company. This will also show the sponsor that you will keep your sponsorship promises throughout the deal.
- Remember to thank the sponsor for considering your offer. To show your level of seriousness, write your letter in a polite and professional working tone.
Step 2. List the different levels of sponsorship
If you have not done so yet, decide the budget for your business or company and decide what you want to buy from the sponsors. Create different “tiers” of sponsorship so that sponsors can commit and explain what you ask for each tier and why you need sponsors for each tier.
Explain the benefits for sponsors. Attract potential sponsors using your knowledge of their business model, audience, and goals, explaining how they will benefit from sponsoring you. You could include arguments about press coverage and other promotional opportunities
Step 3. Provide a call to action
Your call to action can be a request they fill out and send to you or your contact information requesting a meeting to arrange sponsorship.
Make sure the sponsor has a specific task to accomplish in order to move the process forward. Keep the ball on their side of the court. The easier it is for them to accomplish the task you ask, the more likely they are to say yes
Step 4. Get to the point
You are dealing with merchants, entrepreneurs, and business people, not academics. This is not the time to stuff your letters with remarkable language just to appear clever. Make your point, the business benefits for the sponsors, and finish fast. Short and friendly.
Part 3 of 3: Send the sponsorship packages
Step 1. Avoid scattered focus
It may be tempting to send hundreds of packages to as many places as possible, using a nondescript message designed to reach every possible corner. This is incorrect. Be prudent when sending packages, only send them to companies that you truly think could work in your business.
Step 2. Send each sponsor on your list a personalized sponsorship package
Personalize every email, package, and correspondence you send. If you take the lazy start, your project will never get the sponsors it deserves.
Step 3. Follow up through phone calls
Wait a few days and then call the people to whom you sent the sponsorship packages. Ask them if they received your application. Find out if they have any questions. Make sure they know where to reach you when they have made their decision.
Step 4. Customize your approach for each sponsor as the project progresses
If you have a company that contributes $ 10,000 to your event, what steps will you take to treat it differently from another company that only contributed a few dollars? The difference must be noticeable and substantial, from the advantages you offer in terms of advertising to the way you communicate with them by phone. It's time to spend some money so you can make sure you keep your sponsors happy and by your side.