13
10
2009
In a perfect sponsorship world, packages would be just that simple, right? A perfect little package you could tie a string around and present to your Sponsor and have them as excited as a small child on Christmas morning. Unfortunately, that's not always the reality. Sponsorship proposals usually take a number of drafts and revisions before both parties are ready to sign on that dotted line.
One of the elements we find critical to include in a proposal are packages and benefits. This is critical for many reasons, one of which being that a sponsor needs to be able to have a cohesive understanding of what you’re asking for and what they’re going to get out of a partnership. Another reason we find it important is because sponsors have indicated to us in the past that if this information is not straightforwardly offered, they become not only suspicious of the ask, but unable to determine if it aligns with their marketing interests.
It's important for sponsorship opportunities to keep in mind that the initial package you put together to present to a sponsor is just a starting point and that you will almost always have to go back, rearrange and redesign elements to suit your sponsor's needs. My advice once you get in the door for that first meeting? Sit back and be quiet. A good rule of thumb is the 70/30 rule. 70% of your time should be spent listening to what your potential sponsor wants out of a partnership, and the other 30% can be spent with you talking or asking questions. From this meeting you should be able to come up with a package that is more tailored to your sponsors needs. Perhaps they want category exclusivity? Or maybe they want their name on one of your community focused events. Maybe logo placement and visibility is most important to them. Realize that this process needs to be mutually beneficial for both parties involved. Don’t let yourself get caught up in the traps that prevent your sponsorships from selling.
Also, bear in mind that chances are with this economy sponsors are going to make you work harder for their sponsorship dollars and you'll have to adapt to selling sponsorship in a down economy. They are going to have to justify more strictly the marketing dollars they allot for sponsorship, so you'd better make it worth their while. Does this mean lowering your investment price? No, not necessarily, but perhaps you can focus on your intangible assets and added values.
Hopefully by your second or third meeting with a sponsor, you can present them with that perfect little package tied up with string, or ribbon, or yarn… whatever it is they might want!