Definition Of Sponsorship Proposal
A sponsorship proposal is a pitch an individual/organization sends to another organization looking to establish a deal. In this document a partnership seeker (we will call him sponsee from now on) needs to convince the investor (sponsor) of the worthiness of his project. That is, he needs to use the best arguments to prove that he (or his team or brand) represents a great opportunity for the sponsor. The latter is looking for a way to raise awareness and acquire new customers. And the sponsee thinks he can be the best solution suited to his needs. Hence, he sends him a request to highlight the benefits of a future partnership.
Breaking Down Sponsorship Proposal
As stated above, sponsorship is a commercial relationship meant to benefit both parties of the equation. Therefore, it looks like a win-win situation. On one hand we have a sponsor in search of a marketing opportunity. His goals is to find a reliable alternative to advertising. His brand needs visibility. On the other hand we have, let’s say, a football team that needs financing and identifies in the organization a future partner. The next step is to contact him in order to see if there is a window for a potential partnership.
That’s the most defining moment: in order to secure a sponsor’s money, a sponsee has the tough job to be persuasive and touch the right chords. He needs to find (or build) a common ground in which a potential relationship can thrive. The granter must see in the applicant a unique and profitable chance to expose his own brand to a new and relevant audience.
Useful Tips On How To Draft the Perfect Proposal
So, now you know that in order to win sponsorship money you have to be persuasive, effective and targeted. Hence the question: how are you going to achieve all of this?
Let’s start by saying that there are not universal rules. What might work in one case perhaps is not going to yield any positive effects in another case. Don’t expect to find a perfect formula. The truth is, the best strategy you can ever adopt mostly depends on circumstantial factors, these being the market you are addressing, your hunch, past experiences and so on. Nevertheless, there are some best practices and general principles you should follow if you want your sponsorship proposal to attract investments. Let’s take a look at some:
- Know yourself: well, it seems kind of intuitive and implied, you would say. Actually, many marketers tend to underestimate this concept. When you want to promote your brand (it’s what a sponsee is doing, basically) or pitch a proposal, make sure everyone working on the project are on the same page. You have to know what you stand for, your mission and your vision, your values and so on. Having this clear in mind, translate these concepts into a clear and targeted plan in which you highlight your identity as a company.
- Know your sponsor: does the organization carry a good reputation? Research, benchmark, report: try to gain a deep knowledge of the sponsor’s core business, financial situation and so on.
- Build a common ground: find shared values and focus on them. Why would the organization want to sponsor you? What’s the expected return? Are your customers relevant to its business? Answer these questions and you will definitely make an impact.
- Define clear objectives: it’s the key moment of the process. What’s your project? If you are organizing an event, what is it about? Where will it take place? What’s your point of differentiation? Your pitch must underline the benefits of the partnership, how you will manage your project etc.
- Pro-forma financial statement: if you are an event planner, draft a financial document in which you will show the company that your event will (hopefully) make a lot of money. Be honest about revenues, costs and so on. You don’t want to start a relationship by fooling a potential investor.
- Create a sponsorship portfolio in order to give to the potential sponsors an idea of the projects as well as the investment they should put in the sponsorship. This is a great way to build a common ground on which to build a partnership.