How To Prepare a Successful Sponsorship Proposal
One of the fundamental keys to getting sponsored is your ability to create a winning sponsorship proposal. It's an important document in the process of going from sponsorship seeker to marketing partner. It can literally make or break the deal. But creating an effective sponsorship proposal is probably one of the most asked for yet misunderstood facets of the whole sponsorship process.
Some Basic Rules:
- First of all, it should be noted that, sponsorship is not a charity business. Sponsors always expects something in return for what they give.
- Sponsorship does not necessary to be in cash but it could be in terms of equipment or service.
- Sponsorship should always be a complementary part of communication strategies and PR. It should be supported by advertisement and media activities.
- The idea of Social Responsibility should be well underlined and stressed exclusively.
Main Items Needed to Be Included in a Sponsorship Proposal
- The Name of The Event
- The Owner of The Event
- General Coordinator of the Event
- Event Time & Venue
- Topic of The Event
- Purpose of The Event
- Visual Contact of The Event
- The Application Method of The Event
- Target Audience / Expected Number of Participants
- The Institutions, Expected to Provide Support
- Types of Sponsorship
- Terms and Conditions and The Pricing of Sponsorships.
Seven Ideas Needed to be Included Into The Proposal
The sponsorship opportunity is an executive summary or synopsis if you like, focusing on the benefits and outcomes for the sponsor. Limited to a few paragraphs and the liberal use of bullet points, senior managers should be able to read this section of your sponsorship proposal and come away with a good idea what you do, who you are and what's in it for them.
Next we outline the marketing objectives as discussed with and agreed by the sponsor. For example:
"As discussed, the marketing objectives for the sponsorship program are:
- Increase gross sales by 5% in the eastern district directly related to vouchers distributed at events.
- Implement a social media strategy and develop a Facebook fan base of 5000 by the end of the financial year.
- Encourage distributors to stock the latest range of products.
Measures of Success
Document the quantitative and qualitative metrics you will use to measure the success of the sponsorship program, as discussed with and agreed to by the sponsor. For example:
"The measures will include:
- Monthly analysis of direct sales figures and how they correlate with the objectives
- Exit surveys of event attendees to ascertain brand awareness
- Noticeable shift to positive feedback on social media channels
Value to the Sponsor
One of the most important sections of the proposal is detailing the value to the sponsor. This is the sell, the "what's in it for me". Through good management and thorough research you already have this information straight from the sponsor. You've discussed it and agreed on the details previously, so it's a matter of stating the facts.
"The value to 'the sponsor' will include:
- Measurable increase in the profitability of the eastern district, directly attributed to the sponsorship program and implementation of the unique marketing initiatives
- Stronger relationship with fans which leads to higher conversion rates and repeat sales
- Additional sales which will allow you to invest more funds into research and development of new products
Unique Marketing Initiatives
So far most of the information in the sponsorship proposal has been a re-iteration of the elements already discussed and agreed to with the sponsor. Looking back through your information, propose a number of unique marketing initiatives designed to meet the sponsors objectives, can be measured and provide the required value.
Include information regarding the target audience that's relevant to the sponsor:
- Total audience numbers
- Demographics – statistical view of the target audience, including age, gender, income, schooling, occupation etc.
- Psychographics – attributes relating to personality, values, attitudes, interests and lifestyle etc.
Detail a number of options that incorporate the unique marketing initiatives and fit with the sponsor's expected return on investment. You could provide an option below the estimated budget, one right on budget and one over. You may find the sponsors will go for the higher option if the perceived value is there.
Terms and Conditions
Up until this point we've not mentioned the investment amount; now's it time to get to the nitty-gritty.
In the terms and conditions section of the sponsorship proposal include:
- The cost per sponsorship option as detailed in section 5 above
- The time-frame of the sponsorship proposal
- Your payment terms. If the proposal last a year then I like 50% up front, 30% after 6 months and 20% after 9 months
- Details of any insurance you hold. You'll need public liability insurance
- Any other conditions or special features the sponsor should be aware of
Call to Action
Finally, place a call to action at the end of the proposal. Include:
- All of your contact details including email, mobile phone, social media and website address
- An opportunity to come and see you in action if appropriate e.g. a sporting team or regular event
- A message thanking the sponsors for their time and consideration of your proposal
- And so on…