Sponsorship is a valuable source of funding for many associations. Tailoring a compelling sponsorship package is crucial for associations looking to create a package that appeals to potential sponsors to secure their support. Following are important elements to consider when creating your compelling sponsorship package.
Identify your target audience.
Before you start putting together your sponsorship package, understand who your target sponsors are and what they are looking for. Consider the type of organisation you are targeting, their industry, size, and goals, and tailor your package accordingly.
Define your value proposition.
Sponsors aren’t interested in what you do. Instead they are interested in how you can help them meet their goals. So clearly communicate how your association can deliver that value to potential sponsors. This can include exposure to your audience, access to networking opportunities, and the opportunity to align their brand with your purpose and values.
Offer long-term partnerships, not one-off sponsorships.
Instead of focusing solely on one-off sponsorship opportunities, look to establish long-term partnerships with sponsors. An annual or multi-year approach can enhance the value to the partner, streamline your internal sponsorship processes and revenue, and increase the likliehood of success for all parties.
Offer a range of sponsorship levels.
Offering a range of sponsorship levels can help to appeal to sponsors of different sizes and budgets. Consider offering different levels of exposure, access, and benefits at each level, and make sure to clearly communicate the differing value of each level to potential sponsors.
Provide clear and measurable benefits.
Sponsors want to know exactly what they will get in return for their support, so it’s important to clearly outline the specific benefits that they will receive that will support the value you are offering. Consider offering benefits such as logo placement, website advertising, social media promotion, and recognition at events.
Highlight past sponsorship success.
Showcasing the success of past sponsors can help to build credibility and demonstrate the value of your sponsorship program. Consider including testimonials, case studies, and other examples of the impact that past sponsors have had on your organisation.
Use visual aids.
Visual aids such as infographics, charts, and graphs can help to clearly communicate the value of your sponsorship package and make it more compelling. Consider including visual aids in your sponsorship proposal to help illustrate the benefits and return on investment for potential sponsors.
Follow up and be responsive.
After you have submitted your sponsorship proposal, it’s important to follow up and be responsive to any questions or concerns that potential sponsors may have. Be prepared to negotiate and tailor your package to meet the needs of the sponsor, and consider offering additional value to secure their support.
At SMS we specialise in helping associations to build sustainable high-value partnership programs. This includes our sponsorship coaching program where we guarantee to work with you – for no additional fee- until your mutually agreed revenue target is met. So, if you are looking for support to optimise your partnership programs, please contact Julian Moore from SMS at firstname.lastname@example.org for more information.