Use these nine ideas to do everything you love and discover a company ready to foot the bill.
When Linda Hollander developed the idea of the Women’s SMALL COMPANY Expo eight years back, she needed a method to pay for the function.
The expo had not been a cheap undertaking. She had to rent a ballroom, hire a singer and offer two meals for attendees. And she had to cover those amenities upfront, before receiving funds from attendees.
Hollander made a decision to look for corporate sponsors to foot the bill. Your time and effort was wildly successful. She approached companies such as for example Citibank, Hansen’s, IBM and Walmart.
"I told them, ‘I can provide you the women’s market,’" she said. "They threw money at me."
Throughout a recent teleclass, Hollander — a business consultant, speaker and author — offered her advice on securing corporate sponsorships.
"Whatever you’re doing, you may get corporate sponsors," said Hollander, who’s referred to as the Wealthy Bag Lady. "Don’t believe you’re too small, and do not be sidelined by the actual fact you don’t have experience. When I acquired my first sponsors, I had no background. But I sold sponsors on the idea, and I surrounded myself with people who have more experience than I had."
According to Hollander, corporations will spend a lot more than $17 billion this season on corporate sponsorships.
"Wouldn’t you want to get just a little bit of the $17 billion?" she asked. "You’re helping a company market itself. They can not buy prime-time advertising for $10,000."
Listed below are Hollander’s top ideas to attract corporate sponsors.
Be clear about your demographic as well as your platform.
Your platform is your message as well as your fan base — individuals who know you or who align themselves with people you understand. Your demographic may be the market you’re after, and you intend to have statistics about this market close at hand. For instance, if your market is women, remember that they make or influence 85 percent of buying decisions, and they are starting businesses at twice the rate of men. Find out the spending power and purchasing habits of your marketplace. Research the median income and educational level.
Consider the publications your demographic reads. Then require media kits from those publications. According to Hollander, media kits will reveal amazing reasons for having your demographic–all provided free of charge. Remember cause-related marketing, either.
"That is so hot that it is scorching," said Hollander. "People want to get from companies that provide back to the city. In the event that you change lives in a positive way, that’s cause-related marketing." Sponsors will be wanting to come aboard, said Hollander.
Have an excellent sponsor proposal.
"Without it, don’t even bother," Hollander advises. "It must be completely compelling." The individual you show that proposal to must show it to accounting to get approval and a check. You have to connect personally together with your champion in the business. In addition, remember that there’s a particular format for the way the proposal must look, said Hollander. "It really needs certain language and certain sections."
- Focus on a story. It may be your story, or the story of someone whose life you changed. "Whatever you do, tell a tale. This are certain to get your proposal to stick out and make an emotional connection." Hollander highlights that there surely is a person in the business you approach who’s likely to decide about sponsoring you. "See your face must make an emotional decision to provide you with the amount of money," she said.
- Describe everything you do. That is your mission statement. It explains why you do everything you do.
- Benefits. You must have excellent benefits for the sponsor you’re approaching.
- Describe your demographics.
- Create an advisory board. "Unless you have experience, surround yourself with those who have experience," said Hollander. "Show potential sponsors which you have an A team."
- Require the amount of money. "They don’t really call you to ask how much cash you want," she said. "A sponsor once thought to me, ‘If I don’t visit a menu of prices, I throw it out.’"
- Promise deliverables. Don’t just promise media coverage — promise specific media coverage, e.g.: "I’ll offer you media coverage in the hometown business journal. It includes a circulation of 60,000 people making a lot more than $100,000 a year," said Hollander.
- Don’t sell yourself short. Require $10,000 to $100,000 from each sponsor. "I see people requesting $1,000," she said. "That isn’t likely to cut it. You’re coping with a well-paid person in a corporation. It isn’t worth their time if you are requesting $500 or $1,000." Hollander also advises requesting a year-long program, not really a single event: "Make it a complete year, because you then don’t have to continue to the well."
- Find the appropriate person to approach in the business. "Require the marketing department. That is the best place to begin," said Hollander. She noted, however, that in a few companies, the correct department might be pr, community affairs, public affairs, supplier diversity or brand management.
- Whenever you can, introduce yourself by telephone, not email. "That is a relationship business," she said. "You have conversations; you do not just email backwards and forwards." Besides, a whole lot of corporations have good firewalls, as well as your email may not complete. "Email after you have the partnership," said Hollander. Stay away from filling in an online form. That is clearly a screening device, she said. "It’s just like the black hole on Star Trek where something goes into rather than comes out."
- Be impeccable together with your word. If you are courting a sponsor, always do everything you say. Sponsors will test you. If you cannot get information, inform them why. Always be promptly or early for a scheduled appointment. Tell them you certainly are a person of integrity. "You get one chance to create an impression, and in the event that you burn the bridge, you can’t return back," she said.
- Always follow-up. "A lot of people lose deals because they don’t really follow-up," said Hollander.
- Be brief, be brilliant and become gone. Require what you would like, but don’t take up a whole lot of a potential sponsors’ time carrying it out.
- You can’t help anybody until you do yourself a favour. Until you’re financially secure and strong, you can’t help all of the people you intend to help. Corporate sponsorships certainly are a way to cause you to strong and present you the resources you will need, said Hollander. In addition they increase your credibility. She also advised that you publicize your corporate sponsors on your own website to let people know you are playing at an increased level running a business.