Many types of organizations and special events utilize corporate sponsorships to offset operational costs. The process for acquiring sponsors requires lead time, proposal writing and cold calling or emailing.
Analyze Your Project
Create a prospective sponsor list. Seek out projects like yours that are already up and running and target their existing sponsors first. Also, target sponsors in the same categories as the sponsors on your prospective list as they may be willing to compete if a competitor is currently engaged in a similar sponsorship.
Find out how your target sponsor does business. Jim Andrews, senior vice president of Chicago-based sponsorship consulting firm IEG Inc., advises that you research carefully to figure out what you can offer that is most attractive to that company and tailor your proposal to highlight those key benefits.
Submit your sponsorship proposal to a decision maker within the target company or someone who can pass the information directly to her. Social networking sites such as LinkedIn.com may lend help in locating a contact within the company who can direct you to the correct person.
Follow up on sponsorship proposals within three to four weeks of submission. Sponsors receive a large number of proposals each week.
Build long term relationships with sponsors, says Gregory Pynes of "Special Events Magazine." Companies can sign multi-year agreements to sponsor your event/organization, so it is important to deliver the results you promise.
Your prospective sponsor will examine in detail the relevance of your group or event to his brand, so make sure you have done your due diligence.
- Your prospective sponsor will examine in detail the relevance of your group or event to his brand, so make sure you have done your due diligence.
Lanae Carr has been an entertainment and lifestyle writer since 2002. She began as a staff writer for the entertainment section of the "Emory Wheel" and she writes for various magazines and e-newsletters related to marketing and entertainment. Carr graduated from Emory University with a bachelor's degree in film studies and English.