I call this post “The Definitive Guide to the Sponsorship Proposal” for a reason! I am going to tell you everything you need to know about creating a winning sponsorship proposal and how to write a sponsorship proposal that actually works.
Archive: Sponsorship Recruiting
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Three Simple Formats for Sponsor Summits That Work
Let me start by saying that I hate the term “sponsor summit.” When people hear it they think of a hugely expensive, over the top, highly formal, high-pressure sales event. Sponsor summits are NEVER high-pressure sales events and they are only as formal as you want them to be. You can hold any type of summit that fits your brand and your partners…as long as you hold it at least once a year, every year. No exceptions.
The Five Stages of Sponsorship Sales
Five stages of sponsorship? But isn’t sponsorship about setting a budget goal, creating a package with three levels (Gold, Silver, Bronze) and then dividing that budget goal across those three levels and e-blasting your stock proposal to every company you can think of? Yes! At least that’s the common practice, anyway. I have spent a lot of time selling sponsorships, reviewing sponsorship proposals on behalf of brands and talking to prospects about their sponsorship goals. Based on this experience I can say with 100% confidence that the above-mentioned approach is the least efficient way to sell sponsorship. What is the best way? Well, truth be told (no matter what anybody tells you) there is no “best” way. That said, I have observed certain stages of the sponsorship sales process that, when followed, bring in more sponsorship dollars, build better relationships with prospects and simplify the sponsorship sales process. Let’s break them down stage by stage and look at ways to implement them into your sponsorship sales program. The Five Stages of Sponsorship Sales Inventory Building and Valuation Why start here? Because your inventory of assets (what you will sell) tells you who you should be talking to. It guides your […]
Corporate Sponsorship Done Right: The Art of Doing Nothing
In today’s post, I am going to share a case study with you about one of the biggest corporate sponsorship deals I’ve worked on. This is an example of how I closed a major, multi-year corporate sponsor in a way that will surprise you. It didn’t include any fancy sponsorship proposals or a complicated activation strategy but it did require a certain level of comfort with the best sales tool in your arsenal “awkward silence.”
What do Sponsors Want? Actually, Sponsors Don’t Exist!
I know what you’re thinking “another post about how we should stop using the term ‘sponsor’ in favor of something like ‘partner.’” Nope. In fact, there is no word for “sponsors” because sponsors simply don’t exist. Wait…what? Let’s start with the working definition of sponsor from our friends at Google Translate:
How to Get 394 Warm Sponsorship Prospects in Your Pipeline – for Free
How many prospects can you reasonably handle in your pipeline without running out of time to treat them all properly? 150? 250? What if I could offer you 394 warm prospects? And what if I could offer it to you…for free? I know what you’re thinking: anyone can download a list of the 394 biggest companies in their area of interest. But, I didn’t say 394 cold prospects, I said 394 prospects who will take your call and meet with you. I have two techniques that I would like to share with you, and neither requires a sponsorship proposal or a complicated valuation (though you should ALWAYS know your value). Check out this infographic to help with the prospecting process. The Business Breakfast Let me state for the record: sponsorship is NOT fundraising. Fundraisers and charities may use sponsorship as a revenue tool, but it is most definitely a form of marketing (not corporate philanthropy). Why am I telling you this? Because the first strategy is borrowed from the charitable sector…and is the single best tool for growing your pipeline. How do I know it works? Because a consultant friend of mine helped me triple the revenue of a charity […]
The Ultimate Sponsorship Prospecting Formula
One of the main reasons people reach out to sponsorship consultants like myself is for help with prospecting. I can completely understand that, as figuring out who to contact and where to start can be quite difficult to determine, especially for first-time sponsorship seekers. I am often asked for my advice on how to get sponsors as though there is a magic formula that, if employed properly, will lead to more successful sponsorship packages. There wasn’t. Until now, that is. That’s right! I’ve cracked the code, so to speak, on sponsorship prospecting. I created a simple formula for finding corporate partners that can get you on your merry way to prospecting with the right parties. In this post, I’ll share that formula with you and provide best practices for sponsorship prospecting as well, so make sure you check it out! My Corporate Sponsorship Prospecting Formula First, let me start by saying I’m no professional mathematician. I have no idea if this formula follows standard algebra protocol, so please don’t judge me if it doesn’t. Here is my ultimate sponsorship prospecting formula: A1 + I (A32 x V) = P Now, I’m sure you’re wondering what all the variables are and […]
Networking Strategies that Drive Sponsorship Success
I am asked constantly how to find sponsorship prospects, how to find the right people and how to get prospects to take a call or meeting. My answer is to go back to the principles of sales. People buy from people! Cold calls have a terrible success rate and leading with the sponsorship package is a one way ticket to the recycle bin.
How To Ask For Sponsorship: Questions For The First Meeting
Asking For Sponsorship Is Easy! As Long As You Don’t Ask For Money (Yet!) Prospecting is arguably the most important part of the sponsorship sales process. It is through the process of discovery meetings, geared towards information gathering rather than sales, that you learn whether or not the market will support your goals. The goal of the first meeting is not to make the sale but to gather information and demine whether or not you have a fit. The types of questions that you should ask your prospects must reflect the goals of the first meeting. 10+ Questions To Ask Potential Sponsors Here are the five most important questions you should be asking in the first meeting in order to be able to create a custom sponsorship package: Who is your target audience? This starts the meeting on the right path, right away. Don’t launch into a pitch, instead, get your prospect talking about their target audience. Not only will this give you valuable information for your proposal and your own audience research but it shows your prospect that you understand how sponsorship works. What action do your customers take right before they make a purchase? How do you typically get […]