When I first started on my sponsorship journey there was very little information or help available. So I tried a whole range of different ideas and strategies on how to get sponsored. Some of them worked but many didn’t. After…
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.
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.
I need money to get my event off the ground or fund this movie idea. I want to provide additional services to my local community or I want someone to help pay the bills on my race car.
You know what I mean…
It’s this “what’s in it for me” attitude that could be holding you back from developing a successful relationship with a sponsor. I want you to turn this attitude around and think about what’s in it for the sponsor, what can you provide that will improve their business?
So I want you to put yourself in the shoes of a sponsor’s marketing manager. What would you want to see in a perfect sponsorship proposal and what would your expectations be?
Looking at a sponsorship proposal from a marketing manager’s perspective there are 3 main criteria:
To recap, here’s a list of the areas that needed attention before approaching potential sponsors with an updated proposal:
- Make sure to build rapport with the sponsor before sending the proposal
- The proposal must address the sponsor’s marketing objectives, measures of success and ultimately the return on investment
- Research, research, research. The more you know about the sponsor and their market the more successful you’ll be
- Focus on the sponsor – what’s in it for them (not what’s in it for you)
- Keep your sponsorship proposal succinct and to the point
- Don’t include too many options as you run the risk of confusing the sponsor
So I’ve created a new sponsorship proposal based on what I’ve learnt previously. The aim is to address the issues above and provide a framework for future proposal development.
Long story short, it failed to get a response. Not because I didn’t put in the effort. But because I was selective in my approach and didn’t follow through on some of the fundamental aspects what goes into a successful sponsorship proposal.
Since then I’ve put together Practical Sponsorship Ideas to help me (and you) learn about how to get sponsored.
Part of that journey is to look back at what worked and what didn’t with my first sponsorship proposal. I blazed away assuming what a sponsor would want without ever asking, building rapport (to get to know, like and trust you) and doing the detailed research.
I hope you can learn from my mistakes and save yourself some time and effort when creating your sponsorship proposals.
One of the fundamental keys to getting sponsored is your ability to create a winning sponsorship proposal. It’s an important document in the process of going from sponsorship seeker to marketing partner. It can literally make or break the deal.
Creating an effective sponsorship proposal is probably one of the most asked for yet misunderstood facets of the whole sponsorship process.
Through personal experience, research and similarities to business proposals in general, I’ve come up with 10 essential steps to create a winning sponsorship proposal.
It’s easy to follow, methodical and will greatly improve your chances of getting sponsored.
So let’s get started…
I created what I thought was a good sponsorship proposal, full of facts and creative marketing ideas; all nicely presented in a printed 12 page colour booklet. I was pretty chuffed with myself. Go team.
However, what I failed to grasp were some of the fundamentals when it comes to attracting potential sponsors and connecting with sponsorship managers.