When it comes to being sponsored, something I’ve seen a deal “make or break” more than once is when all parties involved can’t define what value means to them.
One thing that will always be on the minds of companies looking to provide corporate sponsorships is: “Will this provide my business with the exposure or return on investment that we need? “
By wondering how to get a sponsorship, you could save yourself a lot of rejections and improve your chances of a long and successful relationship by taking a moment to consider the ROI your sponsor will receive.
Here are 3 ways to help add value to your backers and help them achieve their business goals.
1. Conversation: Sending a sponsorship proposal to all the brands you want to work with no longer works. While this was the traditional way to get sponsored, the days are gone when a sponsor would simply write a check because you asked for it.
How to get a sponsorship: Take the time to get to know your potential backers and invest time and effort to learn more about them and their goals. Instead of randomly submitting a standard sponsorship proposal with the same prices and benefits for everyone, create a conversation with your potential backers. The purpose of this conversation is to educate on how your property might be a good fit for them and to understand their business goals and objectives.
2. Personalization: I have always written personalized sponsorship proposals instead of the typical “boring” proposal that people often use when learning how to get sponsored. Why? Well, I learned that brands were tired of the same type of endorsement proposal showing the same benefits at different prices on a large percentage of endorsement proposals that came across your desk. They wanted customization. They wanted sponsorship proposals that would help them reach their goals. Corporate sponsors receive hundreds, if not thousands, of sponsorship proposals requesting their assistance and funding.
How to get a sponsorship: Be the proposition you see when creating a custom sponsorship proposition with custom benefits and pricing to help your backers get the exposure and value they seek.
3. Connection: It has often been said that “no man is an island”, and that also applies to patronage. Most businesses and organizations will want to be sponsored by more than one brand at a time. Frankly, if they fit, I highly recommend it. One mistake I made for the first time in sponsorship was not connecting my sponsors before the “go live” date of the sponsorship property I was working on. When we would arrive at the event, the reservation tour or the non-profit function … I realized that most of our sponsors did not know each other and would spend most of the VIP reception doing presentations. Was it that bad, NO! Is there a better way, YES?
How to get a sponsorship: A great way to bring both exposure and value to your sponsors is to introduce yourself to your other sponsors. Facilitating these presentations allows you to “be the star” to ensure your sponsors meet other non-competing brands sponsoring properties within the same niche or space. Eventually they will meet, he will be the one to make that presentation! Oh, and you never know, they may come up with additional cross-promotion ideas to get even more exposure. It’s a win / win / win!