There are two main kinds of sponsorship: charitable and nonprofit efforts for goodwill and programs and events for marketing purposes. With a commercial sponsorship, the company will be seeking to increase awareness, build sales and expand market share. Such a sponsorship is similar to an advertising buy and you must be prepared to show how a sponsorship can be measured. TV and radio commercials paid for by a sponsor of a program are examples. So does sponsoring an Internet site. Consider several things when seeking corporate sponsors that are marketing opportunities.
Evaluate what you have to offer. Research your audience. Analyze your costs and profit expectations before you establish pricing strategy. Identify competitors in the marketplace. What is your value proposition? Then approach companies that want to reach the demographic group that your your event or program attracts. If you're looking for a sponsor for a hot new rock band tour, you don't want to approach a company that is primarily interested in reaching people over age 65.
Stress the benefits. When you pitch a potential sponsor, you certainly want to describe your event or program, but you should focus more on the benefits of sponsorship. Identify short-term and long-term benefits for the company. Provide ways to measure effectiveness. Be able to show a return on investment.
Use testimonials. Ask previous sponsors with good experiences to write a letter of testimonial, and include that letter with your presentation to potential sponsors.
Keep in mind that if you're selling Internet sponsorship it's about numbers and the quality of your audience. Show how your audience meshes with the target audience of your potential sponsor. Present historical data. Justify your CPM (Cost Per Thousand).
Watch your trends. When you're selling sponsorships for the same program in local markets all over the country, if you sign up clothing stores in three big-city markets in two weeks, obviously you're hot in clothing stores. Pitch clothing stores in new markets, and pitch them quickly, while you have momentum.