Getting Corporate Sponsorship is like adding a booster to a small business. Securing a good one needs a lot of hard work from your side. It is part of marketing that aims to recognize the rights of specific projects. You may see the sponsor brand’s logo at the big event and in ads.
These all are part of the sponsorship. It is a form of marketing in which brands pay for the association. As a small business owner, if you are still not aware of this term. This post will bring the ultimate guide you will ever need.
What Is Corporate Sponsorship?
Corporate Sponsorship is the marketing program where the brand pays for the association with a project. In this sponsorship, the corporate brands collaborate with smaller brands. This process is also known as a sponsor corporation, in which the project will be funded to meet business goals.
The small business applies for sponsorship to get financial aid for projects. Business sponsorship is different from the donation. In donation, the money and resources are provided without any expectations. While in business sponsorship, the partner association provides the resources and money in exchange for benefits.
Benefits Of Corporate Sponsorship For Small Business
For a small business, Corporate Sponsorship is the way to establish brand recognition. It is the way to boost the business revenue with the help of useful resources. It comes in the form of financial support from bigger brands than you. Do you know it brings other useful benefits for small businesses too?
Increase Brand Awareness
A Corporate Sponsorship automatically increases brand awareness. The collaboration with a bigger brand brings recognition to your small business. Corporate brands have a large customer base in the market.
When they associate with your business, it automatically drives new customers to your business. A single logo of a big brand can increase people’s trust in you. A sponsorship directly boosts brand awareness among your target audience.
One of the biggest advantages of Corporate Sponsorship is financial support. The money and other resources help make good revenue for the smaller brands. There is no doubt small businesses struggle due to low budgets. The brand association supports various activities that need money.
Corporate Sponsorship helps you build a reputation in the current market. In the beginning, small businesses didn’t have a great reputation. A bigger brand association builds a reputation in the market. The result of this can be seen in the form of new customers. The other benefit it provides is trust among your audience.
How To Get A Corporate Sponsorship That Serves Your Business?
Asking for a Corporate Sponsorship can be a daunting process for small businesses. You may get lost in the world of great pitches for sponsorships. It is important to have great knowledge to acquire a great one for your business. Follow these things you need to get the sponsor for your brand:
Research About Sponsors
One of the basic steps in getting a sponsor is creating corporate sponsorship packages. For this, you need to research your potential sponsors. Having the right corporate sponsors in front of you creates higher chances of getting Sponsorship.
Start with making a list of your potential sponsors and extract the data about them. Once you have the data, you can create a plan for the pitching process. You can use the various tools to do deep research about your corporate sponsors online.
Create A Plan
Having the list of right sponsors is the first step in getting Corporate Sponsorship. The next important step is to create a plan for getting one. This plan is the blueprint you need to follow throughout the whole process.
Your sponsorship plan must align with the values of your sponsor. It clearly shows them the future of the business in the next 5-10 years. Having the values aligned in the plan creates a positive impression among corporate sponsors.
Establish The Right Connections
Having the right connections in place creates high chances of getting Corporate Sponsorship. Once you have everything in place, connections help you get ahead of potential sponsors. Start making connections with different people who might help you get sponsorship. The best way to start is to connect with lower-level management. It will give you an estimate of the brand and its future goals.
Write A Proposal
The next step is to write a sponsorship proposal that shows what you have for them. During this process, don’t talk much about your products and services. Show them the future and what benefits they will get in the next few years.
The bigger brand is curious to know the short-term results. Show the worth of your business in the proposal. Emphasize the conversation in a human tone to avail additional benefits. Your proposal must show the action plan to achieve the business goals.
Follow Up And Show The Value
Once you show the proposal to the potential sponsors, the next step is to follow up. The submitted proposal doesn’t mean you got the Corporate Sponsorship. You can write a follow-up email to your sponsor to know their decision.
There are higher chances of not getting the response on the first try. The follow-up from your side must show the value. Don’t ask straightforwardly; show the value by including your best work. Having a great follow-up plan creates more opportunities in the future.
How Do You Create Corporate Sponsorship Packages?
Having great Corporate Sponsorship packages attracts the sponsors at a faster rate. You can easily create a great package for your sponsorship program. These are the following tips you must use for creating packages:
Understand The Essentials
The major step in creating Corporate Sponsorship packages is understanding its essentials. To create a longer relationship, you will need to create personalized packages. These packages target the potential sponsors to let them know what you offer. The essentials of the packages should be easy to understand.
Have Clear Offer
A great sponsorship package explains the offer in lesser words. Sponsors don’t have time to read the long corporate sponsorship packages.
Your package should be clear about your offer in the first few paragraphs. Choose the template and layout which are pleasant to the eye. The offer must explain what you offer in exchange for a certain amount of support.
Corporate sponsors love the additional benefits in the package. Don’t forget to include the additional things you offer in your packages. The benefits can be promoting their brand in your marketing campaigns, increasing subscription rates, etc.
The additional benefits act as a bonus for any sponsor. You have a high probability of getting corporate sponsorships from this trick.
Clear Call to Action
Your Corporate Sponsorship packages must end with a clear CTA on what you want the sponsor to do next. Of course, you want sponsorship, but other methods make it more compelling. Don’t ask straightforwardly for sponsorship in your package.
Add a CTA which shows the next step to proceed in the process. It could be: waiting for your response, fixing the meeting, or writing an email. Don’t forget to add an urgency at the end of the package.
Corporate Sponsorship helps small businesses in many ways. It offers financial support and brings long-term benefits. Having a great understanding of various terms brings sponsorship at a faster rate. It would be best if you had a great connection and a clear goal in your mind. The guide mentioned above helps you get sponsorship for your business.
Yahmah Network offers a wide network of corporate sponsors to small businesses. We have proven techniques that give global exposure to brands. You will get step-by-step guidance in getting sponsorship. Our digital services make it easy to find a potential sponsor for the business. To get sponsorship, visit our website now.