By Jackie Fast, Managing Director of Slingshot Sponsorship.
With the recent surge in corporate sponsorship in the UK, sponsorship proposals are coming in faster than ever. However, with so many new organisations and events trying their hand at sponsorship funding, not all of these sponsorship proposals are maximising the total funding available.
This is due to the lack of specific knowledge in this area as sponsorship professionals can be hard to come by and are rarely located within an organisation. Most often sponsorship is championed by the Marketing Director who rarely has the time and resource to make the most of their sponsorship opportunities.
Some top tips for organisations requesting sponsorship:
Tip: Sponsorship isn’t about you!
Sponsorship happens because you can provide an audience, which helps sponsors reach their objectives. Sponsorship is not simply about someone helping you fund your opportunity or great idea. You need to look at sponsorship as a product you are selling. Most people do not like to pay for something and leave the store empty handed.
Tip 1: Sponsorship proposals should focus on benefits
Your sponsorship proposal should focus on the benefits you can help them realise. Although there are sponsorship programmes that are for corporate social responsibility, the majority are not, and even if they are, they still need to see ROI. Make sure to focus on these commercial benefits rather than the event itself in the sponsorship proposal.
Tip 2: Get the right fit
Prospects should be approached who share the same target audience and values. This will not only ensure that the prospect is marketing to their key audience, but also creates an associated brand experience.
Tip 3: Internal buy-in is key
There is only so much one individual can do to make the sponsor feel like a partner. It is imperative that the whole organisation recognises and realises the benefit of sponsorship and doesn’t look at it as a hassle. If it doesn’t, you will be unable to provide one of the core objectives of the sponsorship – mutual benefits through partnership activity.
Tip 4: Look beyond logo placement
Sponsorship is about engaging an audience and creating a meaningful experience. By understanding the sponsor’s objectives you can work together to create this. Only then will sponsorship be successful.
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