Do you know the 9 biggest mistakes Entrepreneurs & Nonprofits make when learning how to get sponsors or creating sponsorship proposals that kill their results?
If you want to get sponsors for your business or nonprofit and avoid the sponsorship mistakes that stop most people dead in their tracks, read this immediately because the mistakes (and what to do instead) are listed in this 3 part blog series. Here are the first 3…
Mistake #1: A “show me the money” mentality
Yes, you probably just thought of a scene from the movie Jerry Maguire where Tom Cruise and Cuba Gooding Jr. have an exchange that eventually leaves Tom Cruise’s character shouting “Show me the money”! Do you remember that? Well, I’ve seen many entrepreneurs and nonprofits do the same when trying to get sponsors.
This is a mistake because instead of demanding sponsors to “Show me the money”, we should be building relationships with our sponsors. Relationships raise money, and make money.
Instead of demanding checks from a sponsor, ask what you can to do help them reach their business goals.
Mistake #2: Not knowing how to price the sponsorship to get sponsors
The exact opposite of the “Show me the money” mentality is the sponsorship seeker who hasn’t learned how to price their sponsorship and charges too little. Yup, that’s right! It is possible to not charge enough for your sponsorship and when you go to get sponsors, the sponsor will notice.
The mistake in charging too little is that sponsors have their desks and inboxes full of sponsorship proposals from people looking to get sponsors. If you’re sending a sponsorship proposal to a major brand, know your worth and make it worth their time also. Sending a sponsorship proposal to request $250 or $750 will most likely get you a “no” with major brands. In fact, you might not even get a response.
Instead of not charging enough for the sponsorship, you should learn how to identify more benefits that you can offer a sponsor and do research to see what other sponsorship seekers are pricing their benefits packages for. This can be done with a quick google search and could pay big in the long run.
Mistake #3: Thinking one call or email is all it takes to get sponsors
Remember the Diana Ross song “Ain’t No Mountain High Enough”?
It starts with the lyrics…
“If you need me, call me
No matter where you are,
No matter how far..”
Well, that’s not a song that sponsors are singing at the top of their lungs!
Thinking that one call or email will get the job done is a mistake because, just like you and me, sponsors are busy and have their full work schedules as well. In the corporate environment, it’s easy for your voicemail or email to get lost in a pile or somehow accidentally forgotten.
Instead of thinking one call or email is all you need to get a yes, you should give your potential sponsors 2-3 days for them to return your call or email, if they don’t, try again! Also, when sending an email, I like to include a date/time that I’ll follow-up with them if I haven’t heard back.
Now that you know 3 of the top 9 biggest mistakes and how to avoid them, I’d like to invite you to take your next success steps with a free sponsorship e-course.
If you want to get sponsors for your business or nonprofit but don’t know who to call or where to start, then this Free Sponsorship E-Course will help you find success with how to get sponsors – FAST! Click Here For More: Sponsor101.com