What is Sponsorship?
(This is a detailed and long post - feel free to scroll around for what interests you.)
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New fruit bowl with ceramic fruit!
New fruits of success emblem
for course |
Sponsorship involves a business
committing money or resources to a not for profit event or programme in exchange
for specific promotional benefits (e.g.Branding profile, Corporate Social Responsibility).
At its core, sponsorship is an
exchange of money or products / services in kind for services.
In exchange for supporting the
non profit project, the company gets their name and logo on such items as a banner, t-shirt,
poster, exhibition tent, brochure, or other kinds of marketing and
communications related to the event or program.
The business objective of
sponsorship is to reach a specific target audience and to earn a community
“halo” for supporting a good cause.
The bonus that sponsorship
delivers can give a business a competitive edge that goes beyond product and
price.
Increasingly, businesses of all
sizes are striving to balance profit with purpose through sponsorship and other socially responsible marketing.
Sponsorship best works if it is win-win and
work-work for both parties. Both the sponsor and the not for-profit benefit from the partnership. Success depends on them working together to ensure each other’s success.
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Delegates studying the target clients current media spend.
Channels of PR promotion and press copy
Listing of the benefits and costs
Map plots of key sponsor points |
Start By Looking Within
Your first step is to do a benefit
analysis of your organisation, events and programs.
Look for assets that would be
valuable to a potential business partner.
These may include:-
A large client or membership base.
An engaged following on
social-media sites.
A targeted group of supporters such as National, Regional, SMEs and family businesses ( what the USA call 'Mom & Pop' stores)
The clients' employee base.
A visible, busy, or sought after building
or location.
Sponsors that value their
relationship with you.
A strong, emotional mission.
One of the most valuable assets you can have is an existing connection to a
sponsor.
“ a sponsor in the
hand is worth two waiting in the bush !”
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| Analyse your sponsoring project with a SWOT analysis |
Maybe you have a CEO that
personally supports your cause, but hasn't involved her company. Or perhaps
your organisation has a long-standing vendor relationship with a company that
would open an opportunity to a fundraiser.
Q: Where should you start when it comes to
selling sponsorships to businesses?
A: Set your sights first on the
low-hanging fruit !
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What kind of businesses should you target
for sponsorship?
“That’s simples,” as Aleksandr would say
“The businesses that will say yes!”
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| Supporters |
The Bull’s-Eye: Supporters
The bull’s-eye is your 'sweet spot' and where you should aim to target.
The companies within the
bull’s-eye are existing supporters of your organisation.
These businesses
already give you money.
These companies are friends, supporters, and allies with
whom you can kick off a partnership. Companies that are supporters are already
on your side . They may well be open to experimenting and taking risks because they know and
trust you. You’ll need this. First tries are rarely perfect, and
these partners will have the patience and forgiveness you’ll need to
safely try, and try again.
Find out what companies your
organisation already know - supporters from past years. These companies are the foundation for everything
that follows. Always start with the people you know and you’ll never hear “No”
(well seldom !)
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| Prospects |
The Inner Circle: Qualified
Prospects
The first circle outside the
bull’s-eye is populated with what we call prospects. You know these people and
they know you.
But they’re different from bull’s eye supporters for one key
reason: they haven’t sponsored yet. However, they are familiar with your
organisation. They are good prospects.
It’s best to work from the inside
out.
Begin with companies within the bull’s-eye your supporters, execute a
program or two, and then share your success and experience to the next circle of
prospects that will need more convincing than your generous supporters did.
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| Suspects |
The Outer Circle: Suspects
The companies in the outer circle
aren't even prospects. We call them suspects—that’s how weak their connection
is to you. These businesses have no sponsorship connection or much commercial
history with your organisation. They don’t know you and you don’t know them.
This is the hardest circle to
work, but it also has the most potential because 75% of companies are neither
supporters nor prospects.
If selling were as easy as selling to supporters and
prospects , organisations wouldn't need you !
Work the inner circles first.
You’ll gain valuable experience and references.
You’ll need these when you approach suspects.
NB One of the most powerful questions to ask of existing clients e.g. " Tell me Iain , who else should we be speaking to?"
NB Don't forget to hand over two business cards to these client s. The second card they can pass on to another colleague in the business club, Rotary, Lions etc
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Delegates taking a break from Sponsorship workshop-
room with a national perspective |
You might be thinking you can
just begin your project at the outer circle and make cold calls. Not only is this not much
fun, it’s not very effective either.
It sometimes works— but it is like finding a needle
in a haystack.
Life stuck at the outer ring where it’s cold and
lonely, a better option is to revisit the low hanging fruit (e.g., cultivating individual
major sponsors, adding influential members to your client list.) so one day you can land a future sponsorship bull’s-eye supporter.
Track Everything
Use a contact management software
(CMS) to keep track of all your prospects and any interactions.
If you've never used a CMS
before, or are reluctant to use the one you have, let’s be clear on the
importance of having one. Your CMS can help you sell more sponsorships for your organisation.
Whatever software you use,
develop a system. For easy scanning and research, segment your target
into two groups. They are current sponsors ,“Qualified prospects” and
unaffiliated companies as just “Suspects.”
Having a system will allow you to
identify your best prospects. For a new event with sponsorships, start
with supporters and work your way outward.
Record everything. – 'a
short pencil is better than a long memory !'
Any communication with or
intelligence collected about a prospect should promptly recorded. Messages left on a
voice-mail? log it in.
Should you see a recent
story on-line on a sponsor’s new product line or service Paste the link into
the prospect’s note. Same principle with old school newspaper clippings.
Little bits of info may mean nothing at the time, but a
string information viewed together may reveal a good approach, or may even
point you to another prospect. pieces of sector jargon It will give useful way to relate with the client.
Let the software do the work.
Leave reminders, calendar updates, to-dos and institutional memory to the
software--backed up, of course!
But the software is only as good as the
person using it. Garbage in. Garbage out.
How to Get Through to Prospects
Fortunately with email and social media,
you have a lot of ways to contact prospects ( and they you) about a sponsorship opportunity.
But more often than not your first connection with the prospect will probably be over
the phone.
Here are some thoughts on approaches by
telephone
Should I leave a message?
That depends on your own
personal style and what works best for your style.
I like leaving a message.
I leave a short message explaining
why I was calling.
So say that you will email
them with the subject heading “Blooming Sponsorship Project 2016” so they can spot on in
their inbox and that it is not spam.
Share a couple of benefits
of what you are offering in the message left.
Such a message softens up a
prospect so when you do get them on the phone it’s not a cold call.
When you do talk to them on
the follow up, they may be slightly inclined to your proposal. Sometimes people
will even call you back !
How should I deal with
“gatekeepers”?
Make them your friends. They are
valuable allies in getting you to your prospect contact.
Remember, it can be a long, hard
graft to success without them. Bear in mind, ‘gatekeepers’ want something too.
Sometimes a friendly voice is what’s saving them from boredom or an otherwise
boring job!
Other times it’s talking to
someone who has similar challenges in their life (juggling work and kids, a
long commute, etc.).
When should I stop calling? When am I being a pest?)
If they are bona fide prospect,
never.
This goes back to never giving a
prospect a reason to say no. As long as you never drive the prospect to the
point that they tell you to get lost, you should be able to call them
occasionally to pitch them on new projects, to follow up on emails, to invite
them to events, etc.
It can take years to
convert a prospect into a sponsor. But qualifying them as a real prospect and
being persistent will pay off!
The phone is the most popular way
to reach prospects but email is another great
communication tool . Here are some suggestions for using that as well.
Keep it short. There's nothing
worse than a long email. Keep it to a 150 words or less.
Put yourself in your readers shoes. How do you feel when someone sends you an email that you have to keep
scrolling through to finish. Did you want to get another email from that
person?
Bullet everything.
Some people say with emails attach nothing.
( Maybe it is wiser to say avoid attachments)
Make it easier for your target reader to
scan your email for key info, bullet, bold, underline the things you want your
prospect to read and remember.
Also, everything you want
your prospect to see should be in the email itself.
Use email to accelerate and
capture business. Use email to get information to prospects quickly. Get
rid of anything that has to be sent through the post.
When you call your
prospect about sponsorship, should they say “I never got the info.” say “I’m
resending the info right now. ......Do you have it open so I can walk you through the
sponsorship scheme?”
Choosing the Right Pitch (Different strokes for different folks)
To successfully pitch a sponsorship
opportunity, you have know with whom you are dealing. Decision makers can be
divided in one of three groups: Thinkers, Feeler and Deferrers. Most people are
a combination of all three, but one style usually dominates.
Different Strokes for different
folks ( thinkers, feelers, postponers
a.Thinkers ( I'll think about it)
Thinkers want to hear the
rationale, the logic behind a sponsorship and why it makes sense for their
business. They like facts, figures, research, statistics, data and any other
analytical information to guide their decision.
If you’re selling to a Thinker on
an event sponsorship: Talk about how many people attended the event, the split
between men and women, age profile ....
b. Feelers
Feelers are moved more by
narrative and emotional appeals and will respond better to appeals centred
around your mission of your organization, how the consumer experience will be
enhanced and how employees will derive more meaning and fulfilment from their
jobs.
If you’re selling a Feeler on an
event sponsorship: Talk about the emotional connection people have to the event
and how it will tangibly impact your mission.
c. Postponers
Postponers follow the lead of
others. Show them what the companies they admire or compete with are
doing and how you they can join the trend setters. Credibility and reputation
are important to a lot of people. But for these prospects, it means a whole lot
more.
Regardless of whether you are
dealing with a Thinker, Feeler or Postponer, keep the following in mind.
Your No. 1 goal is to be
prospect-focused. Be prepared to adjust your message with prospects to meet
their needs, interests and goals. You may have just spoken to three prospects
in the morning who were happy to talk solely about event sponsorship,
make the shift when the next prospect wants to talk about your mission?
Not all sponsors commit because of the marketing benefits. Stay focused but
flexible.
Stand out from your competition
ie others who fund-raise and sell sponsorship.
Many business people have
pretty low expectations of public sector/ third sector types. They expect you
to ask for money, and to bring little else to the table beyond your empty,
cupped hands.
Imagine if you were a business owner and that’s all you ever
heard from fundraisers and people selling sponsorships!
You’re goal is to be different.
"Telling isn't selling"
Ask your prospect about his
business. Instead of asking for something, offer something. Enlighten them on
how supporting your cause can deliver a competitive edge and boost employee
morale, among other things. Impress them by knowing something about their
industry and competitors.
Don’t be like every other
fundraiser out there. Step out from that old school model and you'll get the
attention you want and deserve.
Don't give them an excuse to say
no.
Avoid mailing prospects reams of information.
Keep your promises. Call people back when
you’re supposed to.
Designing sponsorship packages with little creativity and
even less flexibility.
You never want a prospect to give
you a flat-out “no.” Psychologically it's a big threshold for a decision maker
to cross and when they do, well, they generally mean. So don’t give prospects a
reason to utter that final, irrevocable “No”.
Persuasion is best achieved incrementally.
It won’t happen with one call, or one email, or one meeting. You
need to plan for sponsorship success and how each interaction will bring you a
closer to your goal.
So if the objective of that first call isn't to close the
sale, what is it? It's a question you should know the answer to before you pick
up the phone.
A professional appearance sets
the right tone for business presentations. Many companies expect third sector folk to show up in casual dress. Show them that you're more like them than the
stereotypical amateur fund-raiser and you'll have a better chance of earning
their trust and business.
Give them a damned good listening
to !
Start by talking about your
prospect, the proposal, their competitors and how you plan to help them
accomplish their goals. By the time you get around to talking about yourself,
you’ll have their attention and interest.
Go easy on the PowerPoint slides slides. Avoid
using a Power Point slide deck is the digital podium that everyone likes
to hide behind. A simple rule: only use a slide when what you can’t say it with
words. This will limit your slides to pictures, video and the occasional graph.
That's it. Remember, YOU are your best visual aid.
Be yourself at your best.
If you need to present your sponsorship offer
As communicators we all do
something well. Maybe you explain things well, or you’re organized. Maybe
you’re inspiring, concise or a great storyteller. Build your presentation
around your strengths and what you do best.
Consider the power of team speaking.
Just as everyone does something well, team speaking aggregates those talents
into one fabulous presentation. You might be the right person to kick-off the
presentation, but maybe another member of your team is better suited to explain
the specifics or to talk about your organization.
A mix of speakers works well,
shares the chore of speaking and gives listeners some much needed variety.
Follow the 50/50 rule. Speaking
is different from other forms of communication. That's why your speech should
be balanced between new material and (pre)review of what you've already said.
(Pre)review can take many forms. "This point is important..."
"The three areas we'll cover..." “Now that we've talked about our
spring events, I’ll move to our fall events.”
Respect your prospect’s time and
deliver a compressed, relevant, powerful presentation. Then shut up and sit
down.
Closing the Deal
Closing a sponsorship deal isn't
easy, especially these days when companies are scrutinizing everything and
watching every penny. So you could give a great presentation and still lose the
deal, if you’re not careful.
Here are a few tips on how to
close the deal.
Don’t walk in with one
sponsorship option for them to approve or deny. Build all your sponsorship
packages from the ground-up, swapping things in and out based on the prospect’s
needs, interests and budget.
Offer to lend a hand whenever
possible. Companies are busier than ever. And while a sponsorship with you is a
great opportunity, their success doesn't depend on it. That's why you should
offer to be as helpful as possible.
For example, when companies buy a
sponsorship for a dinner gala they worry they won’t be able to fill the table
with senior people from the company. Offer to have your gala chairperson call
key members of the senior team with a personal invite.
Increase the touch points.
Whenever you’re working with a business on a sponsorship, look for ways to make
it less transactional and more meaningful.
Invite the business owner to visit
your offices or to attend a special event as your guest. Maybe some Supporters might
be willing to call them to explain the value of partnership and how positive
the experience has been for them.
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Workshop complete -
Happy trainer ! |
Finally, don’t forget the mission
of your organisation. Focus on your business objectives. I say this because I used to get so caught up in the
spider's web of marketing I would forget to catch the fly !
