TIPS THAT WILL GET YOU A BUSINESS SPONSORS IN SECONDS

 HOW TO RAISE FUNDS TO START YOUR OWN BUSINESS

1. Make It About the Sponsor, Not About You

One of the biggest mistakes people make is that they overemphasise about their business, but don't talk how they can benefit their sponsor. Sponsors want you understand their company, marketing campaigns, goals and visions. You can learn this in your initial conversation with the sponsor, on social media or on the sponsor's web site. If your prospective sponsor is a public company, you can order the annual report. When you talk to the sponsor, remember to ask them about their goals first, then go into your presentation and tell them how you can help them accomplish their goals.

2. Be Clear about Your target audience

In the world of corporate sponsorships, your demographic (also called the target audience) is one of the most valuable assets that you can offer a corporate sponsor. There are various ways to research your demographic. Do an Internet search for statistics on your target demographic. What publications do they read? Order a media kit for these publications and get some great statistics about your demographics.

3. Have a Great Platform

Sponsors want to know that you have extended reach to people who buy things (think Oprah). These could be your clients, people on your email list, your company database, your advisory board and your strategic alliances. Remember if you don't have extended reach to lots of people, then others do. Use the powerful strategies of borrowed credibility, media, and joint ventures.

4. Have Cause-Related Marketing Opportunities

Cause-related marketing is a sales or promotional partnership between the sponsor and a property helping the community. People buy more from companies that give back to the community, so the sponsor wants to be known as a good corporate citizen.

By aligning their brand with the life-changing work that you do, sponsors can bask in the "halo effect." So be sure to make this part of your pitch to the potential sponsor, as well.

5. Create a Compelling Sponsor Proposal

The sponsor proposal is the most important, but least-understood, document in the sponsor industry. If you want top-tier sponsors, you need a compelling sponsor proposal. This is basically a business plan--and snapshot of the benefits of your property. It contains the story of your property, mission statement, sponsor benefits, demographics, marketing plan, goals, media opportunities, advisory board, and the sponsor fees.

6. Borrow Experience

Sponsors want experience, but don't worry. If you don't have it, someone else does. Tell the sponsor about your previous experience in a related business. Surround yourself with key influencers on your advisory board. Tell the sponsor about leading-edge companies that you know or have worked with. Get creative to sell the sponsors on your concept.

7. Make Integrity a Part of Your Brand

Sponsors want to see that you have integrity and credibility. They may test you to see if you do what you say. Get them their information on time and arrive early to appointments. Keep in mind that you need to pass their unspoken tests to see if you can handle their brand image.

Sponsorships can be a powerful means to skyrocket your business.

"Sponsors have given me opportunities to grow my business, travel the world, create my own events, do lots of media, and empower more people with my message," says Hollander.

You know you have quality and value to offer your sponsors. Dream big. Now go out and get them!

by marla tabaka