Landing the perfect sponsor: What they look for and how to make your pitch shine

Sponsorship can be a game-changer for any business or individual. It injects resources, boosts credibility, and opens doors to new audiences. But securing that sponsorship can feel daunting. What exactly are sponsors looking for?

Here at SimplyBiz, we understand the power of partnerships. In this article, we'll break down the key factors that sponsors consider when making their decisions, along with some dos and don’ts to strengthen your sponsorship proposal.

What sponsors look for

• Alignment: This is all about finding common ground. Sponsors want their brand to be associated with entities that share their values, target audience, and overall mission.
• Reach and engagement: Sponsors crave exposure. They'll be looking at your event's potential audience size, demographics, and level of engagement. Do you have a strong social media presence? High past attendance numbers? Solid data is key.
• Activation potential: Sponsors want to go beyond just a logo on a banner. They'll be interested in how they can actively engage with your audience. This could involve interactive booths, product demonstrations, or speaking opportunities.
• Credibility and reputation: Sponsors want to back winners. Showcase your organization's past successes, positive media mentions, and strong testimonials. A clean reputation is essential.

Do's and don'ts of landing a sponsor

Do:

• Develop a clear sponsorship proposal: This should outline your event, target audience, sponsorship tiers with benefits and the return on their investment, clearly defined, and past successes (as applicable). Bear in mind that the sponsor will also do their own independent research to see how you conduct yourself and your business in public.  Always ensure that your presence online or on the ground is current and that you are portraying yourself in a professional manner.
• Target the right sponsors: Research companies whose brand aligns with yours and your audience.
• Highlight the value proposition: Quantify the reach and engagement opportunities you offer.
• Present a professional proposal: First impressions matter. Ensure a polished presentation that displays your brand.
• Follow up and build relationships: Sponsorship is a two-way street. Communicate clearly and nurture the relationship.
• Act in good faith:  the sponsor is trusting you with their brand and reputation.  Ensure that you are always positioning your relationship professionally and in the best interest of all parties.

Don't:

• Blast generic emails: Sponsors are bombarded with requests. Tailor your message to each company.
• Focus solely on your needs: Present a win-win scenario. Explain how the sponsorship benefits them.  Don’t just use catch-phrases to peak a sponsors interest, ensure that you validate the benefit that you are proposing.  Consider, that a sponsor has specific target markets and objectives, that they have thought deeply about and that they understand. For example –because you are approaching the bank’s small business department, don’t say just that this product will help small business owners. Validate it, by saying, business owners are juggling many tasks and need to free up time to work on their business. This solution, allows the business owner to delegate and monitor the staff’s deliverables, freeing up 2 hours a day to focus on their business strategy.  PS  make sure that you have case studies and or stats to support your claim!
• Underestimate the importance of data: Back up your claims with attendance figures, social media stats, and audience demographics.
• Overpromise and underdeliver: Be realistic about what you can offer and ensure you follow through on commitments.  Go the extra mile to illustrate your commitment to the partnership. This will also make the sponsor, more open to engaging with you on future sponsorships requests.  
• Overprice your products and services: bear in mind that sponsors deal with a number of suppliers and are constantly approached with innovative solutions.  This means that they are exposed to diverse solutions and costs.  If you have overpriced yourself, you will open up more questions or concerns from the sponsor.  Remember that first impressions, are really lasting.
• Neglect post-sponsorship communication: Thank your sponsors publicly and privately and provide them with post-event data on engagement.

Understanding the sponsorship contract

While the excitement of securing a sponsor is high, remember, a sponsorship agreement is a legally binding contract. Before signing on the dotted line, it's crucial to thoroughly understand all the terms and conditions. Here's why taking your time is essential:

• Protecting your rights and obligations: The contract outlines your specific deliverables and the sponsor's expectations. A clear understanding ensures you can meet your commitments and avoid misunderstandings.
• Financial clarity: Sponsorship agreements often involve financial exchanges. Be sure you understand any fees, payment schedules, and potential penalties associated with non-performance.
• Intellectual property: The contract might address usage of logos or trademarks. Ensure you retain control over your intellectual property if necessary.
• Termination clauses: Understand the conditions under which either party can terminate the agreement. This protects you from unexpected situations.

Understand that sponsors are generally, large organisations with a number of governance, compliance and due diligence requirements. There are also a number of departments, processes and signoffs that need to be attended to. Be patient, accommodating, and not demanding throughout the process.

Don't be afraid to ask questions!

If there's anything in the contract you don't understand, seek clarification from the sponsor or consult with a legal professional. Consider that all the checks that are in place are to look and protect both party's best interests.

By understanding sponsor priorities and crafting a compelling proposal, you'll be well on your way to securing that all-important partnership. Remember, sponsorship is about building mutually beneficial relationships. Focus on how you can elevate their brand while achieving your own goals. With dedication and a strategic approach, you'll find the perfect sponsor to propel your business or event forward.