Done correctly, a sponsorship letter is an effective way to let potential sponsors know who you are and what you do. More importantly, though, it should leave them in no doubt about what you can do for them. What makes…
If you’re like me, you find yourself daydreaming about all sorts of wonderful new ideas and opportunities. Like a 5 year old, I’m easily distracted by something new and shiny. We like to think it’s our entrepreneurial nature or desire…
Nobody knows your audience as well as you do. It’s your super power to win the hearts and minds of sponsors, saving them from the clutches of ineffective marketing campaigns.
And your number 1 weapon to attract sponsors is the unique selling proposition (USP), “a factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.” Entrepreneur.com
In this article I’m going to show you how you can attract sponsors with a series of USPs that will make your sponsorship opportunity irresistible.
When done correctly, sponsorship is great for business. It provides laser targeted marketing and promotional opportunities that other channels simply can’t match.
Traditional marketing and advertising relies on interrupting people to get their attention. Consider TV advertising, website pop-up banners or telemarketing.
Sponsorship on the other hand is all about creating experiences, weaving the sponsor’s brand into an interactive and memorable exchange with the audience.
How to get sponsored – 7 tips you need to know
Have you struggled to get noticed by sponsors? Do your emails go unread and your phone calls unanswered? Or perhaps you’ve been able to pitch to a sponsor, only to receive a thanks but no thanks?
Don’t worry, we’ve all been there. While there’s no magic bullet or secret to success when it comes to sponsorship (planning and hard work are effective however), there are approaches you can take that will help you get sponsored.
Sponsorship letter writing is hard work
If you’re sending unqualified and unsolicited sponsorship letters to potential sponsors you’ll already know that response rates are either extremely low or nonexistent.
Put yourself in the shoes of a marketing manager who receives hundreds of sponsorship letters every month. What’s the likelihood they are going to take time out of their busy day to read a sponsorship letter from a stranger, asking for an investment into something they know nothing about?
That’s right – not very likely.
What we need is a sponsorship pricing model that represents good value for the sponsor, is fair compensation for our effort and is based on a model we can use over and over again.
Well you’ve come to the right place. This article details a sponsorship pricing model I’ve developed over time that meets all 3 criteria and is easy to implement once you know how.
It’s based on the concept that our primary aim is to help generate leads for the sponsor from our audience, with a percentage of these leads converting into customers. Each of these customers has a value we can calculate and this forms the basis of our pricing model.
Today, in part 2, we’re going to look at how to deliver exceptional value in your sponsorship proposal by illustrating why your program is the very best marketing option for a potential sponsor.
The key areas we’ll explore…
- Demonstrate a return on investment for your sponsor
- Develop unique marketing initiatives for your sponsor
- Highlight the competitive advantages of your sponsorship program
It can be expensive if you get someone else to do it so you’ve decided to have a crack at developing your own sponsorship proposal.
This may seem a little daunting to start with but trust me when I say that you can do it, and you can do it cost effectively if you’ve got the right tools to get the job done.
The first step is to go and read 10 essential steps to create a winning sponsorship proposal. This hugely popular article provides a step-by-step guide to developing a sponsorship proposal.
Now that you know what to do, it’s time to look at 4 tools you need to create your own successful sponsorship proposal on a budget.
You’ve been pounding away for months now, cold calling potential sponsors only to get the brush off from a gatekeeper or sending out proposals that never get a response.
It’s becoming depressing and you’re starting to get upset, angry even, that no one can see your potential.
Don’t stress, you’re not alone. It’s the dilemma of many sponsorship seekers.
If this is happening to you then it’s time to stop, re-group and have a serious think about your approach to sponsorship.
The reasons why you’re not getting anywhere can be summarised by three simple words: Who, what and why.
When you come into contact with a potential sponsor they’re going to ask themselves these questions:
- Who are you?
- What’s in it for me?
- Why should I choose you?
As a sponsorship seeker, it’s you job to provide the answers to these 3 questions in a way that makes you and your opportunity the logical choice.
Let’s look at each of these questions in detail and discuss ways you can improve your answers and get sponsored.