Tips on attracting corporate sponsorship
- 21 Jan 2015
Seeking corporate sponsorship can consume a lot of time and resources so it is essential to plan and think strategically. Corporations expect a return on their investment and that return must be something the company values. There are steps you can take to ensure your efforts are focussed where you have the highest chances of success.
Where to start?
- The first step is to self-analyse. What is your mission, your value proposition and your demographics? What can you offer?
- Next, think about what businesses might have an interest in what you are offering:
– Are you in an area the company is working in or hoping to expand to?
– Will the project help the company with its image as a good corporate citizen?
– Is your audience/fan base/community their target demographic?
– Do your key messages align with theirs?
- Do some research about potential target companies:
– check their websites as they usually have a wealth of information such as mission statements and values, future goals, social impact management plans (resource and infrastructure companies especially), where they operate and who they are currently sponsoring
– explore your networks (colleagues, board members, family and friends) and see who may have a connection with potential target companies
– ask that person about the possibility of sponsorship with the target company and whether they may be prepared to introduce you to the appropriate person as a personal introduction is preferable to cold calling
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Corporate sponsors expect a return on investment so once you have a few target companies in mind, think about what return on their investment you can provide. Be creative! For inspiration you could look at Creative Partnerships Australia’s Gold Books which recognise Australia’s successful and innovative relationships between arts, business and donors. Long term corporate sponsorship relationships always entail more than cash in exchange for their logo on your marketing collateral. The partnership must be mutually beneficial.
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Plan ahead. If you are targeting a company, invite key people in the organisation to events so they are exposed to the activities of your company.
Making the approach
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When you are in a position to approach the company, keep in mind the basis of any deep, long term sponsorship is a strong personal relationship, open communication and trust. Also think about who is best to make the initial contact – CEO, Artistic Director, Chair etc.
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Have a concise, pithy one-pager that tells the story of your organisation– its history, mission and values, demographics and successes. Often it is better to craft a formal proposal after you have had an initial discussion with the company so you can tailor it to the expectations of the potential sponsor in terms of your offer and the ask you are making.
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Listen to what the sponsor’s expectations are. Consider the cost to your organisation before accepting the sponsorship. For instance, in-kind support that isn’t directly budget-relieving may pose challenges.
Once sponsorship is confirmed
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Formalising the relationship in a written agreement which clearly sets out the rights and responsibilities of both parties is essential.
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Deliver what you say you will deliver and nurture the relationship and you may have a long term, enriching partnership!
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