One of the biggest and most common mistakes in seeking sponsorship is to think only of your own needs and wants. But you should be focusing on the commercial benefit you can offer them and their target market.
Sponsorship is about the commercial benefit you can offer. There is no magic bullet that will motivate a sponsor to throw money at your deserving cause – unless you have thought out a win-win proposition. You need to package a combination of benefits that will provide them with value for money.
Sponsors aren’t holding their breath waiting for your approach. They are besieged by heaps of applicants seeking money. Therefore, the power in the relationship lies heavily in their hands, and you need to tailor the content of your proposal to suit the sponsor’s unique requirements.
You need to be able to offer a sponsor an avenue for them to reach out to their target market. In this sense you are a ‘middleman’ or conduit – a way for the sponsor to strengthen their connection to their target market.
Photo by Patrick Robert Doyle on Unsplash.