Every type of grand event and business venture requires sponsorship. As the quote goes, “No man is an island.” Cliche may it seem, but it exactly applies in the business industry. Companies need the help of other organizations to achieve their goals and get what they want. Fortunately, some business entities are willing to partake in someone else’s endeavor. That is why, a total of 62.7 billion US dollars were spent on global sponsorship in 2017. If you have an upcoming event—be it a concert, a fundraising activity, and whatnot, continue reading below for tips and tricks on writing a sponsorship proposal.
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What Is a Sponsorship Proposal?
A sponsorship proposal refers to a presentation made by an individual to be pitched to a group of people, whether a business, company, or organization. Its purpose is to establish a deal and convince a potential sponsor to work on an upcoming project. Because this proposal is a formal business document, it needs to present informative content and contain enough details about a project’s worthiness.
How to Create a Sponsorship Proposal
Every proposal aims to persuade its readers and influence them to take measurable actions. But how do you know you pull together all of the information convincingly? Although you can use proposal templates as a reference, no sponsorship proposals are the same, like two business events are different. Thus, it must be targeted to a specific audience. Here are some tips to help you write a winning sponsorship commercial:
Tip 1: Know More About Your Target Sponsors
There is a right sponsor for every event, so don’t crash into someone’s office to present your proposal. For this instance, consider the following things: (1) sponsors must share similar views and values with your organization; (2) they must have a good reputation in the industry you operate; (3) they must be capable of sponsoring your event. If they miss one of these, spend your time looking for another potential sponsor.
Tip 2: Target the Sponsors’ Marketing Goals
Marketing is one main reason why businesses are willing to sponsor. With that, target potential sponsors’ marketing goals. A good example is the National Basketball Association’s (NBA) sponsorship deal with Nike. Nike is responsible for manufacturing the NBA players’ official jerseys. Being a well-known professional basketball league, the NBA can help with increasing Nike’s brand popularity.
Tip 3: Establish Trust Right from the Start
Trust is crucial in sponsorship deals. The kind of trust that’s established with a concrete foundation. Do this by understanding your sponsor’s concerns. As much as you want them to provide your needs, ensure that they get the benefits they deserve. Do your research and present facts using data and statistics. Then, explain why your business is special and what sets it apart from the competition.
Tip 4: Be Open to Exploring Multiple Options
Initiating a sponsorship deal can have many bumps on the road before it reaches a mutual agreement. So, your proposal should emphasize openness to negotiating. As the one seeking a sponsor, do not demand. Instead, bid on the first proposal, and if it does not work out, go through your options.
What do sponsors get in return?
Many benefits await for any sponsor, including brand visibility, consumer perception, and lead generation. Great business relationships are also forged through sponsorship, which is something anyone can get behind. Sponsors can even include you as part of their marketing plan.
What are the different types of sponsorship?
Sponsorship comes in several types, such as financial, media, in-kind, and promotional sponsors.
What are the sponsorship levels?
A sponsorship level is a tier where applicants may find themselves in terms of what they will receive.
Whether a profit or nonprofit organization, presenting a sponsorship proposal is a must! It’s one way to acquaint the target sponsors with your vision and mission. Preparing such a proposal is among the first steps towards materializing lucrative sponsorship deals. So before launching any business endeavor, keep in mind the key points of writing a compelling proposal.
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