No matter what business you’re involved in, it is always worth looking into sponsorship partnerships that could provide leverage for your brand as well as an income stream. You may be thinking ‘but who will want to sponsor our company?’ You will be surprised to know that many companies are looking for sponsorship partnerships in some shape or form. We outline some key considerations to get you started.
Define your own strengths
Before looking outwardly for what businesses you want to approach for sponsorship, firstly ask yourself what is our company about? What is it we bring to the table? What are our strengths? Why should someone sponsor you? There will be a number of reasons - from database numbers, social media reach, profile or even Corporate Social Responsibility reasons if you’re a charity.
Find Synergies and contacts
Now you have your strengths, identify which companies you actually want to work with and be sponsored by. Don’t be greedy, you can go to the masses if you want but it won’t be the most useful way to use your time. Identify who has common interests as your business and use these to help build your case.
The right contact
Now you have created your hit list, you need to make sure you get hold of the right person. Sponsorships are usually dealt with by the marketing team so either a Marketing Assistant or Marketing Manager are ideal. They may also have a business development team that may deal with requests. If you can’t find the right contact, a well written introduction email to their generic email address should point you in the right direction.
Sponsorship partners are just like any other personal or working relationship. Like most, you are with them because you like being around them, they benefit you and they help you grow. So apply this to business and before you approach anybody ask yourself:
- Does your business have a similar culture, mission and vision?
- Go back to your strengths – how can you help them grow? E.g. attract new customers or help them enter new markets
- How can you benefit them and how can you help them? E.g. databases reach, campaigns or social media reach.
- Presentation is power
Now you have all the details you need, it’s time to compile them into a good presentation. The key messages within the presentation should be memorised so that every telephone call, meeting or conversation reflects it. All the questions they could possible ask should be answered in your presentation. It needs to be informative, engaging and attractive all at the same time.
Now you have these steps outlined get yourself into action and start drumming up the sponsorship you need. Make sure the message is clear, concise and your story is a good one to tell.