Asking for a sponsorship can sometimes be awkward and intimidating. Whether it is a major event or a sports team, the process of asking for a sponsorship is the same.
Today we are looking at everything you need to know and a timeline for how to ask for a sponsorship. Not every pitch is going to be successful, and that’s okay. But as a professional, you must have a plan in place to have the best odds.
Why You Need a Sponsorship
Getting a corporate sponsorship will put your organization on the map. People love when they see brands working together, especially when they recognize a corporation. Not only does this provide you with credibility and authority it is also getting your brand in front of a new audience.
Some people think that throwing dollars at brand recognition is a waste of time. But guess what? When you look at Google, McDonald’s, Nike, and Under Armour, almost every person in American can recognize at least one of those. You would be surprised at the amount of money spent to have their brands on the forefront.
With that being said, when you land a corporate sponsor, people will remember your event, cause, organization, etc. because of their credibility, in turn, reflects on you.
Hopefully networking and building connections with outreach like these will help in the future and the sponsorship will turn to a long term relationship.
If you can get your foot in the door just once, the future will be very bright!
When Should You Ask for a Sponsorship?
As soon as you begin the planning stages of your event, fundraiser, season, etc. you need to have your proposal and pitch ready. Corporate businesses have processes to follow when it comes to this and if you wait until the last minute you will never get one.
Also, have a plan in place that allows you to reach out to several potential sponsors in case one cannot do it, or it falls through.
When Should You Follow Up After a Pitch?
Allow one to two weeks before checking on the sponsorship status. While this may be the only thing on your plate, for corporate companies they deal with this all of the time. If you cannot land them within two weeks of making your pitch, it’s time to seek out another.
What You Should Know Before Proposing a Sponsorship
Before you ask a company for a sponsorship, a little research needs to be completed first. You want to see what their mission statement is and that aligns with your business or organization. If your company doesn’t believe in their goals, then there shouldn’t be a partnership. An example of this would be, say you are hosting a festival based on going green and being eco friendly. But the sponsor you had in mind doesn’t follow any green practices and eco friendly is not in their plan. In that case, they would not be a good fit. Not only because the missions aren’t aligned, but your target audience would not want to support that and would probably lead to a failed event.
Corporations want to know that their money is being put to good use. Know ahead of time of what you are going to do for them. Will you promote the event on social media? Have their names placed on shirts and banners? Even though they already receive more exposure when compared to small businesses, they still want to be recognized.
You should have a proposal that is well put together. Corporations thrive on data on numbers so be sure to include that in your pitch or proposal. This means if you are planning an event, what are your projections on the number of people that will be there? Who are your target demographics?
RELATED: The Importance of Target Market Research
Within your proposal list out the amount of money you are seeking and a menu of prices if you plan to offer different advertising based on tiers. They are corporate and they already know you are looking for money, so shoot them straight.
We hope that you land your next corporate sponsorship with flying colors! These tips should help you build the perfect pitch so you can land them every time.
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