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).
Have you read?
Getting Corporate Sponsorships
Sponsorship spending to hit $66 billion worldwide, but most firms don’t know if it really works
Now that I am updating this article, I am seeing the information in a new light. Some of the information you can use to secure a sponsor at work to help you navigate your career. For instance, one of the tips is to identify what you can offer the sponsor that is truly a benefit to them.
That is important for every relationship that has a strong foundation. It is based on give and take. And this is important to get a sponsor at work. Find different ways to use the information below.
Sponsorship Made Simple YouTube Video
Shannon Cherry, a publicity consultant and founder of the Sponsorship Made Simple Institute, shared some tips on sponsorships.
What you need to know about getting corporate sponsorships
- This year companies will spend $17 billion on sponsorships. Companies are spending more on sponsorships because they are less expensive than ads.
- Companies around the world are set to spend $65.8 billion on sponsorship deals in 2018, according to CNBC.
- 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?
- Underwrite marketing effort
- Host your events or events held by others
- Underwrite the costs of producing blog and e-zine content
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
There are experienced people such as Shannon Cherry and Linda Hollander, The Wealthy Bag Lady who can assist you to secure sponsorships for the things that matter to you.
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If someone clicks on a link and buy something from Amazon, the company will pay me a small commission.
Corporate Sponsorship Books
The Sponsorship Seeker's ToolkitThe Corporate Sponsorship Toolkit
How to Get Sponsorships and Endorsements
Corporate Sponsorship in 3 Easy Steps
Everything You Must Know About Corporate Sponsorship
How to Craft Your Company's Unique Story
UPDATE: First published in February 2011. If someone clicks on a link and buy something from Amazon, the company will pay me a small commission.
