Every single day some people create social network profiles and influence the market. On the other side, if you have another business, you plan to raise money and create new projects.
How to get sponsored?
The first step is to create a brand from your business or personal brand. Your business can be sponsored only if you developed a strong business or media presence, and sponsors can reach a new market. A sponsorship deal needs to be a relationship that will work for you and the sponsor at the same time.
The following steps will help you to get the sponsorship:
1- Look for companies that sponsor other events or activities similar to yours.
That pretty much helps if you are new to get the business deals on the talking terms with other companies to get the guidance or directions like where and how they proceed in their journey.
If we talk about sponsorships, like how renowned companies can sponsor you, then the basic step includes contacting those companies you know working on the same or more or less similar to your work.
That will be the first and easy step you can take and ask for boosting or shouting out. Sponsorship can be in both ways, like monetarily and boosting your popularity so that some other companies reach you out.
So, how to get a company to sponsor you?
If you are trying to find a way to find sponsors, you need to work in two directions. The first one is to look for individual companies, and the second one is to find specialized companies that research and find sponsors for clients. Both approaches to finding sponsors are excellent.
You can try sponsormyevent.com, helpgetsponsors.com, etc. There are a lot of platforms that try to connect sponsors and clients.
But in this text, we will concentrate on the first approach where you are trying to find the way to ask for sponsorship for the event or your company project.
2- Create a list of potential sponsors
The potential sponsors can be according to your preferences, like the discussed above options. If you have planned for the musical event, you must properly list after comprehensive research for the potential sponsors. Then contact them to know whether or not they are interested in your proposal.
Make sure to write down your proposal before you contact anyone. Your detailed proposal will be helping you to convince your sponsor company.
3-Research every company or person on your list.
The best way to get to the right company or person is to check their background before talking to others for more and safer advice. So, in this case, you will be knowing that person or organization before you can ask for the sponsorship.
Below you can see how you can find the right contact email for your sponsor:
Now the question here is how you can manage to ask for the sponsorship?
4- Anticipate the needs of each potential sponsor
First of all, you need to specify which of your potential sponsor has similar criteria that you can fulfill easily. obviously, every sponsor you will interact with will have a list of their organizations’ needs. Most likely, many organizations ask for promotions, and they abruptly say that you have to shout out to them and boost their phenomena. Some ask for their products to be sold, and they make sure that every person who attends your event must buy their product though they are sponsoring you.
A few months ago, I was invited to the musical night of my colleague’s company, and it was open for others too, most likely to the relatives or friends of their employees. Well, on that night, we got dressed up. As soon as we entered the hall, we came across a small panel where they were registering our names and signatures and moving towards the other panel they were asking us to buy their beauty product, and peer pressure was there since there were many people. Hence, we purchased that product though we didn’t need them.
So moral of the story is that sponsorship comes with different proposals. Hence, you need to take a deep look at their proposal what they want from you and, after carefully analyzing, take your decision because of its one on one game.
So you have to think about both sides.
5- Creating a Sponsorship Packet
Creating the sponsorship packets and not overloading them is also essential when asking for sponsorship, whether you ask for corporate sponsorship or any other.
6- Write an executive summary
Before you plan to meet your sponsors and all, you must take a detailed summary of your plan before it is executed. The summary will not help you out to be clear, but you can also defend your point if needed to be asked. When you know your real plan and your budget, that will help you place your sponsorship level.
7- List the different sponsorship levels.
You can set various sponsorship levels based on money level such as Gold, platinum, etc.
8- Provide a call to action
Always be a step away, like just a phone call away, and be the handy person to be available when to call just in case if you missed out on the chance of getting sponsorship. Remember there are always competitors, just not you, but many others ask the same company, so being late or away can make you lose the chance. So be on the second away.
9- Cut to the chase
Remember that there is no need to circle the point you want to discuss. Don’t flatter unnecessarily because this is a business deal, not for academic writing or essay competition. The other party might get irritated with this, so be clear with your point and straightforward.
This isn’t the time to pad out your writing with lofty diction and fluff to sound smart. Make your argument clear and sound, outline the business advantages for both you and the sponsors, and end it quickly—short and sweet, not circling the point.
10- Follow up with a phone call
Allow yourself to be quite frank and with humor. So that the listening party can be convinced to some point and you can negotiate with maximum openness. When you negotiate and let the other party be open with you, you learn from each other. Let us suppose if you both are from the same field, negotiating with each other on the sponsoring matter will let you have more exposure to the terms they use and the people they talk about and their strategies to boost and things they use to avoid. You know you have to be careful of those things too.
Negotiating with each other and staying up to date is the follow-up key in business deals. This is going to be sometimes really tough, but not that much, though. If you know, the whole thing needs just a little attention and sequences.
Daniel Smith is an experienced economist and financial analyst from Utah. He has been in finance for nearly two decades, having worked as a senior analyst for Wells Fargo Bank for 19 years.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Nimblefreelancer.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: firstname.lastname@example.org
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