How to attract a sponsor
The process of obtaining sponsorship for your business, project or event can end in a successful and mutually beneficial cooperation, or a complete failure. However, you can significantly increase your chances of success by learning how to properly identify credible potential sponsors, write resumes, and send out customized sponsorship packages. Let’s start with method 1.
Identify potential sponsors
Image titled Seek Sponsorships Step 1
Look for companies sponsoring events and activities similar to yours. Take advantage of the experience of companies that have held similar events before you. If you are looking for a sponsor for a single event, such as running a race or race, find out who hosted it before you and who was the sponsor. This can serve as a good starting point.
If your event is a sports event, consider partnering with Nike, Adidas, Livestrong, and other sports related companies.
If you’re hosting a musical event or concert, consider local radio stations, thematic media, or other organizations that have similar goals to yours.
If you’re hosting a food-related event, try contacting a major grocery store or restaurant chain. The game is worth the candle.
Make a list of potential sponsors. An impressive list is good, but you will not ask all the companies you know and all the businessmen in a row whether they will agree to become sponsors. Your list should contain a list of real potential sponsors, that is, people or companies that you think will actually consider your proposal. Include in the list of prospective sponsors those who have previously funded your events or supported similar ones, as well as those with whom you have established personal contact.
Analyze every company and every person on your list. Having a lot of information about a potential sponsor will serve you well in the future. Think about how the sponsor will benefit from participating in your project.
Try to understand what policies potential sponsors are pursuing. By understanding their business model, goals, and other metrics, you can come up with stronger arguments and develop a step-by-step sponsorship strategy.
In this situation, it is better to bet on local companies than on large corporations, such as Nike. While Nike certainly has the ability to fund your project, the company receives hundreds of sponsorship requests every week. What about the local radio station or sports shop? Certainly less. And if your target audiences at least partially coincide, then participation in your event can promise additional profit for them.
Try to get potential sponsors to compete with each other. If a sporting goods store in the west area of the city has expressed interest in your event, be sure to mention this when talking to the store in the east area. Both will take the hint.
Arrange a sponsorship package
Write a resume. A sponsorship package always begins with a summary or statement of the objectives of your sponsored event. Its approximate length is from 250 to 300 words, describing in detail what the sponsor will finance, why you are using his services, and what benefits the sponsor can derive from participating in the project.
Remember that your resume determines whether the sponsor will study the documents further, so it should not be boilerplate. Make it personalized, let the sponsor feel like you really took the time to learn about their company. This will also demonstrate to a potential sponsor that you are serious about future cooperation and will keep all the promises made.
Don’t forget to thank the sponsor for taking the time to review your proposal. In your letter, use a friendly yet professional working tone that reflects your professionalism and seriousness.
Work on multiple levels of sponsorship. If you haven’t already taken care of this, then make a budget and decide what you want to get from sponsors. Create several “levels” that potential partners can agree to, and explain what each of them means and why you need sponsors for each.
Explain to the sponsor why he needs all this. Conquer your sponsor with what you already know about their business model, target audience, and goals. Explain how the sponsor will benefit from participating in your event. Reasons include extensive press coverage of your event and other opportunities for publicity.