Overview: Selling Your Sponsorship
Research Your Target. Don't Waste Their Time or Yours
Updated Friday 3 April 2021 by Jack Griffin
Lessons in This Module and How They Will Help You
Wait a minute! This may seem counter-intuitive, but you will want to learn how to Deliver Value to Your Sponsor in the next module before Selling Your Sponsorship. With the the strategies and tactics you learn for delivering value to your sponsor, you will make far more powerful sales arguments and clearly differentiate your property from all the others vying for sponsorship.
Selling Your Sponsorship
You've done the work in the previous module - documenting your values, building your copy platform, inventorying your assets, planning your levels and potential packages. Now you have to get out there and sell. The key is qualification - identifying the best prospects and not wasting your time with hopeless longshots.
One thing to avoid absolutely: sending out a lot of brochures to companies you have not researched and qualified. You will dilute the value of your property and waste your time.
Preparing to Sell Your Sponsorship
Work through the checklist in this lesson. Follow your brand guideline and use your copy platform to develop your communications. If you haven't already quantified your audience, this is the time to do it. You can use the spreadsheet in this lesson to quantify and segment your audience.
Develop the main communication elements you will use with your well-qualified prospects.
Building Your Suspect List
You may get lucky. Some big sponsorship deals have been done when a C-suite executive simply decides to sponsor something, usually because of a personal connection. But don't count on it. Hope is not a good strategy.
Look at the sponsor lists of other properties like yours. Companies that sponsor in related sports may be interested in leveraging with you. Look also at who is sponsoring your sporting competitors - their business competitors may be good suspects.
Building the suspect list is a bit like brainstorming - quantity is important.
Doing Your Research to Identify Prospects
From your long list of suspects you need to identify the best prospects. What else do they sponsor? How do they activate? You can use the worksheet for this lesson to make your research more effective and efficient.
When you approach your prospects, you need to know about their company, their industry, their competition and their SWOT - strengths, weaknesses, opportunities and threats. You are selling a business proposition to them.
You know already that your pitchbook needs to look professional. Download our samples for ideas on design and structure. Use the checklists in this lesson to make sure you cover the most important topics in a logical order.
Mistakes to Avoid
Not the only mistakes, but some of the biggest are...
- not knowing your prospect's business
- not qualifying your prospect
- using a "one size fits all" standard pitchbook
This lesson will address these and other mistakes and show you what you need to do to close the deal.
Comments? Questions? Suggestions?
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Just carry on with the course!