How to Get Sponsors, Lesson 4 by Fran Briggs

I've been wanting to share just how easy getting sponsors for your project, music, organization, or event can be so, here's Lesson 4—on the house! After reading, feel free to register for the entire training using the link below. In the training, I share unknown information. Using simple, proven tactics, I'll show you the process for obtaining sponsorships—including the technique for quickly receiving checks in the mail in as little as three days.

How to Get Sponsors: Lesson 4

Creating a Specific Strategy for Securing a Sponsorship:

Corporations are putting big money into sponsorships. For example, Mars, Inc., recently invested $5.6 million of its budget for a 2020, Super Bowl commercial. When setting up your strategy for securing sponsorships, make sure your project goals and mission align with the prospect’s budget before you approach them. Asking for too little—or too much money—may disqualify you from consideration.

When you approach a sponsor prospect, know that receiving cash is not the sole purpose. Create a reciprocal road map in advance which underlines this. For example, show them in stages what they can expect in return. Then, make sure they align with your own marketing goals. Ask questions. It's imperative for sponsorship success.

Client and Goal-focused Questions

--What are my monthly, quarterly, and annual cash goals?
--Are the sponsor and my product compatible?
--What skills will I need to effectively implement my sponsor-seeking activities?
--Who are my ideal sponsors?
--What system will I use to identify, one time, quarterly, and annual sponsorships?
--What is my timeframe for each action?

Upon answering the questions, you can add them to your written plan of action.

What Are You Conveying to Your Sponsor? 

In your written and oral communications, always make a point to deliver in a positive and attractive light. What you send or give to people should project the image you want to convey: interesting, clear, concise, compelling, and descriptive. Be sure to proofread your work for spelling, punctuation, and grammar.

Sponsor materials such as brochures, flyers, and other documents are relatively easy and inexpensive to create. They should always have a letterhead, and be addressed to the appropriate individual. Your materials should describe the purpose of the sponsorship and the particulars of your effort. In the lessons to come, you will be provided with templates for several appeal letters and proposals.

In both your appeal letters and formal proposals two things are of great importance:
One, ask for a specific amount of money and show what your sponsor will get in return. And two; include as an enclosure a self-addressed envelope.

There are many effective ways to present a proposal. Although there is no industry standard, there are certain fundamentals that should be executed.

When sending a letter asking for a substantial sponsorship, consider enclosing materials which can assist you, including:

-- Your product or organization's history
-- Copies of press releases and feature stories
-- Testimonials
-- Photographs
-- Awards

Tips for Approaching Community Agencies and Corporations for Sponsorship

After identifying the prospect, it's time to hone in on the important elements for your initial contact. The key is to connect with the mindset and goals of your prospect. You can best do this by gaining a thorough understanding of the organization or individual so you have an idea of how much to ask for. If you book an appointment, or during your initial contact, be sure to include achievements and milestones you reached .

Enthusiastically present them with a portfolio or proposal which answers their primary question is, "How will this benefit me/us?

Tell them. If you don't do that, you'll lose them before you have them. If you can add to their current media promotion, increase the affinity they have with their consumers, add to their database, and Increase foot and web traffic, let them know.

Sponsorship Proposals Include a Solid Case for Support

The secret to securing sponsorships through your verbal and written communications is outlined in why you are saying what you do. To succeed, you must state a viable case for why a sponsor should support you. Present well, and your prospect will enter a partnership sooner than you think. An effective case statement satisfies three criteria. It must be:

Credible Your sponsor must believe that you have the resources and competence to do what you say you will do. They must agree that the money they contribute is a necessary component in the means justifying.

Clear You must demonstrate a clear connection between the need you are addressing and how a sponsorship will meet that need. Remember: this is a sponsorship. Don't spend a lot of time identifying a "problem" or making a plea for a "donation." Sponsors need a reason to sponsor; and not necessarily a reason to give. The "bottom line" converts into money. The clearer you make this correlation, the more likely your sponsor will sign a contract.

Compelling Your job is to help your prospect see that your goals and mission are compelling. Corporations become interested in you based upon how they perceive you. Your objective is to present yourself as an influencer who has the power to make an impact upon their consumers as well as their organization. Illustrate your vision concisely and persuasively and invest time in developing a solid case for their sponsorship. Sponsors sign after reading a proposal when it's compelling, informative, entertaining, and conveys that you can deliver what you say you can.

Once you have a sponsor, work diligently to keep them. This is called sponsor cultivation. Upwards of 97 percent of sponsors acquired by an individual or organization never sponsor again simply because they were not asked to. Long-term, professional relationships are the most important variable in your program. A successful sponsorship program resigns the sponsor quarter after quarter; or year after year. Operate so you are consistently acquiring new sponsors, and resigning your current ones.

Raise Your Sponsor's Contribution

An important aim of your program is impress your sponsor enough so that they increase their commitment and loyalty to your program. If you delivered the deliverables, resign and raise the contribution when you approach your sponsor again. It shouldn't be difficult. When you successfully manage and implement per your agreement, your income will increase and your initiative will flourish.

Great job! That's it for today. I will see you tomorrow for Lesson 5. We'll talk about who are the best prospects for sponsors, the reasons why big corporations need you, and EXACTLY how a New Hampshire man snagged a $50,000 sponsorship.