Help! I need sponsorship for my event/idea!

Tue, Jun 24, 2014

Business Buzz

by Candice Sealey

In our last article, I touched on if one’s business is truly receiving mileage from sponsorship deals. However, that’s only one side of the coin; at any given time of the year, event organizers, promoters, as well as media entities seek sponsorship. Here are some tips for sponsorship seekers:{{more}}

1. Free money doesn’t exist – Be reminded that sponsorship is about achieving your sponsor’s objectives; it is not just about your need, neither is it about someone helping you fund your opportunity or idea. Unless you demonstrate the benefit of the sponsorship deal, no money/services will be given. Look at sponsorship as a product being sold – people won’t pay for something and leave the store empty-handed.

2. Your passion may not be contagious – Sponsors don’t need to share your passion for your event or organisation in order to sponsor you. They just need to be able to see the commercial benefit; therefore, make this the focus of your proposal.

3. Get the right fit – Seeking sponsorship is more than asking several businesses for a few hundred dollars here and there. Try your best to gain sponsorship from companies or brands that are a natural fit with your event or organization. This will ensure that the sponsor is marketing to their key audience, as well as create an associated brand experience; e.g. if you are having a family event, seek sponsorship from companies that also target families or kids and show them in every way possible how being affiliated with your event will bring rewards to them.

4. Sponsorship is more than logo placement – Put logos wherever possible, but ensure that your proposals offer far more substance to sponsors. Sponsorship is about engaging an audience and creating a meaningful experience; once you understand your sponsor’s objectives, you can work together to create this, therefore, making the sponsorship successful.

5. Ensure your proposal can stand on its own – Keep in mind that you may approach an organization that is big and bureaucratic, so it’s vital that your proposal can stand on its own without the personal enthusiasm you may put into your initial meeting; it’s possible that the proposal may be passed around to more people who will all have input into the decision.

6. The work is not done once you receive the cheque/sponsorship confirmation – If you don’t service sponsors properly, they won’t support you in the future and they will talk about you unfavourably to their peers.

7. Understand what you are getting into – Be sure you understand the basics of sponsorship. If you don’t do it properly, you will not get the money you are looking for and you may burn bridges for funding in the future.

Candice Sealey is Founder of Ignite! Full service Marketing & PR Consultancy Company offering tailored services to help businesses succeed. Let Ignite! Create new sparks and get better results for your business.

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