Securing sponsors for your brand, business or event provides a few unique advantages for you long term. A few examples are: providing funding relief for events, underwriting a new product or service launch as well as providing credibility for your business. Let’s take a look at some of the mistakes you can make when pitching potential sponsors, particularly corporate ones.
Mistake #1. Not properly introducing yourself and your business.
In most instances, you only get one shot so it’s important to maximize it. You must be concise, be smart and be gone. You can’t afford to make a bad impression introducing yourself or what your company brings to the table. It is important to have a sharp sponsor focused elevator pitch ready at all times. Tell potential sponsors about your mission and how you plan to add value to their brand and their company. This is your dream so let your passion shine through.
Mistake #2. Not having an agenda for the initial call or meeting.
It’s important to have a pre-planned agenda for the meeting or the phone call when you have the opportunity to get in front of potential sponsors. You will not get time on a decision maker’s calendar without first stating the purpose of the meeting. You must briefly tell them the role you see them playing and how it will benefit them.
Mistake #3. Not having a sponsorship proposal.
If you have been given a face to face meeting, it is crucial that you have a sharp sponsorship proposal with a few different investment levels and key elements outlined. A successful sponsorship proposal is the difference between success and failure in your exchange with the potential sponsor.
Mistake #4. Failure to accurately outline your deliverables.
The sponsor should be able to clearly decipher what you will deliver as the final product for their investment. Not outlining your offerings and end results the sponsor is likely to receive is taboo.
Mistake #5. Failure to demonstrate the value of your product, service or event.
What is the key benefit that the sponsor will obtain from being involved with your company or event? You must address the main reason why a potential sponsor would want to be a part of your company or event. A few of major reasons why sponsors participate in events or align themselves with other companies are as follows: brand loyalty, increased visibility, introduction to new target audience, community responsibility and drive sales to name a few.
These are the top 5 common mistakes you can make when attempting to secure sponsors especially corporate ones. You may have experienced other lessons and learned the hard way. If so, please share your mistakes and comment below. As a veteran in the communications industry, I have noticed when it comes to securing sponsors every situation is different but in some ways it’s all the same.
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Lori A. Manns is an award-winning, marketing, sales coach and business strategist who works with small business owners to help them elevate their brand, get more clients and grow revenue. Lori A. Manns is CEO of Quality Media Consultant Group and founder of the Trailblazer Business Academy™ where advancing entrepreneurs go to learn business growth strategies the soulful way. Lori is also the creator of Sponsorship Sales Secrets System;™ that shows you how to get more sponsors and sales for your business, guaranteed. To purchase consulting services on marketing, advertising or sales and, learn how to increase your revenue and grow your business; please visit the contact us page on www.qualitymediaconsultants.com.
More great advice, Lori! I’ve been thinking of potential sponsors for a Wild Leadership Adventure I’m developing, so this is perfect timing! Thank you 🙂
This is a great outline for pitching sponsors for newbies like me!
Love this: “You must be concise, be smart and be gone.” I haven’t tried to get sponsors yet, but your tips are like a roadmap that makes it feel less daunting.