6 Things Your Need To Know Before Securing Your Sponsors
Raising funds for your project, one person at a time, can be tiring. Sure, some individuals may come in with a huge amount, but you and I know it doesn’t happen that often.
Have you thought about securing corporate sponsors? Not only can they support you with a more substantial amount, but you’ll also be able to leverage on the boost in branding, and if you play your cards right, even tap on their customer and partner databases.
In today’s email/post, let’s have a look at how we can help you secure some corporate sponsorships, and take your projects to the next level.
#1. Understand that Big isn’t always Good
We all like to go after the big names, but because of the hierarchy and bureaucracy, getting sponsorships from them can be a long process. Expect to go for meetings after meetings, several proposal revisions, and tons of waiting.
Instead, going for the smaller SMEs where you can talk directly to the decision makers could be more favorable. Not only can they decide on the spot, but the approval process is speedy too. Plus, since it’s a personal pitch and if you really win them over big time, they may even recommend you to their friends and business partners personally. That adds a lot of credibility!
See, not so small anymore, eh?
#2. Research on your targeted companies
Regardless of the size of the companies you are targeting, you have to do some research on them. Bigger corporates, for example, may already have a few areas they support in, and if you can align with their direction, it will make sure your pitch is a lot easier.
For smaller companies where you will be pitching directly to the bosses, you can also try to find out what causes they support as well.
The focus here is simple: by them supporting your project, you are helping them achieve their bigger goal. Win-Win-Win!
#3. Know your demographics
Your project is going to be big, and it’s going to rally support from your fans and followers. If you take some time to identify them and break them down based on their demographics and psychographics, that data will be useful for your corporate sponsors to make a better decision.
- Demographics – who they are?
Age, gender, profession, marital status, ethnic group, income group etc
- Psychographics – what they do?
Interests, hobbies, afflictions, brand associations etc
#4. Personalized Pitch Decks
Because each prospect is different, and you’ve done extensive research on them before the pitch, you will realize that even your pitch decks have to be modified to different audiences.
For example, if you know they are more keen to look at the social impact measurements of your projects, put them up early in the pitching flow. However, if you know they are concerned about how their funds will be used, show them actual photos of your work, or a budget allocations pie chart.
#5. Show them how their brand will be portrayed
Here’s taking personalization to the next level, and they are going to love it! If you promise the sponsors brand mentions, show them in your mockup how their logos will look in those visuals.
Say your project involves refurbishing old PCs and donating them to villages, show them how their logos will be placed on the boxes or the devices itself. This process helps them visualize the result, making it easier for them to make a decision, and for both parties to set expectations as well.
#6. Promise Deliverables
Somewhere towards the end of your deck, show them what impact measurements (KPIs) you will be using. They need to know how their support will be used to move your project forward, and they also have their own reporting to management to do. Providing this data will definitely help give them the assurance they need that they are picking the right partner to work with.
There you have it. A quick but effective guide to help you secure those first few sponsorships. Remember, don’t just focus on them because end of the day, you will need those individual support as well. Work on strategies where they both can come hand in hand, and delegate your tasks to your co-founder or teams to help you lift the load.