A 12 Step Approach to

Transcription

1 Creating Corporate Partnerships: A 12 Step Approach to Preparing Sponsorship Proposals Cultural Nuances, LLC

2 Getting Started: The 7 Basic Questions to Ask Yourself Why are you doing this program, project or event? What will you be doing? How will you be doing it? Who will benefit & how? Where will it be done? Where will it be held/location? How long will it take? How much will it cost?

3 Step 1: Establish Budget What s your budget? Try to Identify all your costs/expenses What is the cost of the venue, entertainment, activities, permits, insurance, promotional items, porta johns, etc. How much do you need To make OR to break even? To make a profit? Develop sponsorship opportunity packages What levels make economic sense, i.e., title, presenting, entertainment, co titles, in kind, etc.

4 Outlining the event: Step 2: Prepare Proposal Be clear and truthful about what you re doing and what you can deliver. Proposal should include: Overview/summary of event The first impression Objectives (why you are doing it) Need (how much it will cost) Methodology (how your going to do it list your process for the plan) Execution (what you ll be doing) Include attendee profile or demographics (Target Audience) who s attending? (ethnicity, gender, age, income, etc.) note that a sponsor wants to know where their $$ is going and if its targeting audiences they want to reach Think Win/Win: What s in it for you & your potential sponsors Why should they Want/Need to sponsor your event over another

5 Step 3: Research Partnerships Research companies & partnerships that match your group s interests: consider businesses you use often or target your expected attendees, i.e., Service shops, gas companies, insurance companies, hotels, companies whose products target women, men or motorcyclists specifically, etc. Find out the company s process & timing for accepting proposals. i.e., yearly, quarterly, monthly, etc. Find out the accepted format as well, i.e. intro letter, one page proposal, PowerPoint, DVD, etc. PLEASE make sure to send proposal to the right person. Get the correct spelling of their name and title. Avoid To Whomever It May Concern. Keep a database of qualified prospects p No, doesn t necessarily mean no it may mean, not now or not this way ask what would make the event a consideration

6 Step 4: Credibility/Value/Equity What are your credentials? Why should companies consider your group/event over someone else? Who are your other sponsors? Who are they competing with? What credible names are already committed. Build value and credibility Value your event in every way.treat it with respect. Be organized & persistent in your approach to getting sponsorships. Improve as you grow and continue to ask for support. Note: sponsors may shy away from test projects esp. during economic downturns Qualify companies wanting to get involved in your event: You wouldn t have a sexy lingerie company at a family event, but you would ask them to sponsor a grown & sexy event Companies want to be connected to the uncommon or special event that fits their brand.

7 Step 5: Measurement/Metrics Consider what you might need to measure or track: Return on Investment (ROI) if company wants customer lead cards they may determine success by their sponsorship cost/ number of leads $5,000 sponsorship/1000 leads = $5.00/lead Return on Objective (ROO) did you do what you said you d do, i.e. # of attendees, # of leads, # of test rides, exposure etc Quality of Leads Other metrics branding, awareness, sampling, etc How/when will you share results

8 Step 6: Agreement Think about what success looks like for you and your prospective sponsor How you will give data/results from the event to the sponsor in advance? Know what your sponsor is measuring ROI, ROO, leads, etc., (What is the sponsor s desired outcome from the event? Is it new customers, names and phone numbers, or to get their information in 1,000 hands? Remember sponsors have to report to their management what they got in return for the invested money ROI) Don t include items in the agreement you cannot deliver just to secure the sponsorship. p Remember the long term value of fyour event and your organization s reputation is at stake!

9 Step 7: Marketing Your Event Tell your prospective sponsor how will you market this event Television or Radio It s best to have some idea of what station, frequency or ad, sponsor s placement in ad, etc. as well as a the MINIMUM amount of exposure the sponsor will get. Of course more sponsorship revenue = more media buys and better ad placement Website presence Social media presence, i.e. Facebook, Twitter, Myspace, YouTube, Yahoo Groups, etc. Remember there is value in the number of followers, fans, registered users on your website or associated with your organization. Street Teams Videos Other grass roots advertising, media, and promotional activities

10 Step 8: Present Proposal Present the proposal to the prospective sponsor Know the process for submitting proposals to your qualified prospects. Call in advance if you have to inquire & where possible try to present in person or by conference call. If you mail, follow up by phone or and ask for a time to review proposal Follow their directions for submitting proposals. i.e., Internet, paper, etc. Track and follow up with a phone call on all submitted proposals. Note reasons for any no s you receive Note: Take heed to no s and make changes to proposal as necessary for the future OR the next potential sponsor)

11 Timing For Submitting Your Proposal Due to the high volume of requests many companies get, you re encouraged to submit proposals early for best chance of success. Also, note: Companies on a calendar year budgeting cycle may only consider proposal requests August November for the next calendar year. Companies on a fiscal year budgeting gcycle may only consider proposal p requests March May for the upcoming fiscal year. Companies using online submission i systems like Sponsorwise, may only accept proposals through their online system.

12 Step 9: Negotiate Terms Sponsorship opportunity packages may be generic and d cookie cutter to start but t t the prospective sponsor may want customized options Be Flexible Be prepared to negotiate terms: Allow prospective sponsor ways to customize their sponsorship of your event Discuss negotiable terms of the proposal in advance with the prospective sponsor for best chance of achieving win win opportunity for you and the sponsor. Suggest co op opportunities for businesses to consider. i.e., The local grocery store may want to give away yp products from their customers at the event (thus sharing the cost of the sponsorship. The point is to help them think of ways to sponsor the event, especially if they are interested but may not have all the funds to do so.)

13 Step 10: Corporate Partners Value relationships with your corporate partners. Commit to and keep project timelines. Be timely and responsive to your sponsor s inquiries i i before, during and after the event. Keep your sponsor in the loop of important developments, particularly if it effects the outcome of the event or their level of participation. They should never be THE LAST TO KNOW.

14 Step 11: Follow through on Commitments Follow through on promises and commitments made to your sponsors Get feedback from sponsors (in writing if possible) on success of your event Plan a debrief meeting to get feedback. This is valuable for future events & securing new sponsors Ask early for renewals/recommitment Include positive feedback in next proposal where appropriate. Try to get a quote or letter of support from sponsors

15 Step 12: Deliver Measurement/Metrics Report Deliver reports or data you promised to the sponsor in a timely manner i.e., mailing lists, leads, etc. Request a copy of their final assessment of your event (ROI). Try to get their opinion or assessment of the ROI for the event so you can use that info to promote future events and request sponsorship in the future.

16 Q&A

17 THANK YOU FOR YOUR TIME Contact Info Phone: Fax: