Initial Thoughts on Getting Corporate Sponsorships
When you think of securing corporate sponsorships, most people think of non-profits, but small businesses and sole proprietors can get corporate sponsorships as well.
Sponsorships have come of age, and it’s no longer free money, it’s not a donation, but a business deal. Sponsorships can be for cash or in kind, such as products and services (Examples include printing, media and webinar services).
Related Post: Getting Corporate Sponsorships
Sponsorship Made Simple YouTube Video
Shannon Cherry, a publicity consultant and founder of the Sponsorship Made Simple institute, shared some tips on sponsorships.
UPDATE: First published in February 2011
What you need to know about getting corporate sponsorships
- This year companies with spend $17 billion on sponsorships. Companies are spending more on sponsorships because they are less expensive than ads.
- The key to securing sponsorships is to add value for the potential sponsor. Think what you can do to make the deal irresistible.
- Like most things in business, securing a sponsorship is based on building relationships.
- Sponsors are looking for target markets that they are trying to penetrate.
- Think of potential sponsors as strategic partners.
What can you get corporate sponsorships for?
- To underwrite marketing effort
- To underwrite the costs of producing blog and e-zine content
- To host your events or events held by others
Where do you begin to get corporate sponsorships?
- Know your target market and make a list of companies that are trying to enter that target market.
- Research the companies to determine if they are the kind of organization that you would like to do business with.
- Identify what you can offer the sponsor that is truly a benefit to them.
- A good place to conduct company research is Hoovers.
- Create a pitch letter to the targeted companies and make your offer irresistible.
Final Thoughts on Sponsorships: How to Secure Them
Corporate Sponsorship Books
The Sponsorship Seeker’s ToolkitThe Corporate Sponsorship ToolkitHow to Get Sponsorships and EndorsementsCorporate Sponsorship in 3 Easy StepsEverything You Must Know About Corporate SponsorshipHow to Craft Your Company’s Unique Story