In my last blog post I shared 3 of the 9 biggest mistakes Entrepreneurs & Nonprofits make when learning how to get sponsored.
In case you missed it, here they are:
1. A “show me the money” mentality
2. Not knowing how to price the sponsorship
3. Thinking one call or email is all it takes
As promised, here’s the next 3…
Mistake #4: We’ll use your logo!
Is that all you can think to offer when creating your sponsorship proposal? Mistake #4 is making the assumption that your potential sponsor only wants their logo on your shirts, websites, promotional materials, etc.
How many billboards did you see on the way home? Can you tell me every billboard you saw on the way home, and the order of them? Can you tell me the phone number and website on each one?
Can you? NO? Well, you’ve just helped show why I’ve been teaching for years that it’s not just about giving the sponsor logo placement or the free t-shirt.
This is a mistake because instead of just telling a sponsor we’ll use their logo and give them premium placement, we should be looking to create experiences for our sponsors and customers.
Instead of just offering logo placement, think about other unique ways that you could deliver exposure and value to your sponsors. What type of unique or once in a lifetime opportunity could you offer that would help your sponsors know you’re creating a win-win-win.
Mistake #5: Skipping the fine print
The sponsor said “yes”, you signed the agreement, and they gave you a check! We’re done, right? WRONG!
If you want to get sponsors, understanding the sponsorship agreement is critical and that’s why mistake #5 is skipping the fine print. Just because they’ve said “yes”, doesn’t mean that your job is over. Many sponsorship agreements contain fine print that detail when and how you’ll get your payments. Often times, those payments could be tied to specific results. When I was first starting in sponsorship, I made this mistake and that’s why I encourage everyone to read the agreements. We didn’t get paid on a sponsorship deal because we missed a simple milestone in the fine print. Don’t let that happen to you.
Instead of skipping the fine print, you should throughly read the sponsorship agreement and ask any clarifying questions before signing. Once you’ve signed, keep a copy of your sponsorship agreement somewhere readily accessible to you and anyone on your team working on the sponsorship activation. I personally create a folder for each sponsor that includes all important documentation.
Mistake #6: Calling the CEO
One might think that calling the CEO or the CMO of a company is the best way to get a “yes”. FALSE! Unless you have an existing personal relationship with the CEO or CMO, calling them is mistake #6.
If you want to get sponsored by large corporations, it’s likely they have a full-time person or team that handles their sponsorship budget and approvals. These same people receive hundreds if not thousands of proposals and sponsorship requests every week. Calling the CEO or another C-level executive may seem like a great idea, but often times you’ll get an immediate “no” or the information you forwarded to their office ends up at the bottom of a pile when more pressing issues arise. Also, from personal experience, the sponsorship coordinators I’ve dealt with didn’t particularly like feeling like a potential sponsee went around them or over them to try to get a yes.
Instead of calling the CEO, figure out who to contact. If you don’t know where to start, the marketing, human resources, or PR departments are a great place to start. If you happen to do a lot of networking, find someone else that’s been sponsored by a brand you want to work with and ask for an introduction.
If you’re ready to learn how to get sponsored, check out The Sponsorship Roadmap. The Sponsorship Roadmap teaches you how to get SPONSORED by corporations and SUPERCHARGE your business! Learn More Here: www.TheSponsorshipRoadmap.com