If you have ever wanted to partner with other businesses and corporations in a major way, then sponsorship may be the route to go.  By inviting sponsors to help with your latest promotions, you can create a mutually beneficial relationship where they help you in exchange for your willingness to introduce them to your audience.
Why You Need Sponsors
Why would you consider adding sponsors to your strategy?  Sponsors can help you with the following.

If you have ever wanted to partner with other businesses and corporations in a major way, then sponsorship may be the route to go.  By inviting sponsors to help with your latest promotions, you can create a mutually beneficial relationship where they help you in exchange for your willingness to introduce them to your audience.

Why You Need Sponsors

Why would you consider adding sponsors to your strategy?  Sponsors can help you with the following.

?Fund a major campaign.  If you don’t have all of the funds you will need to launch a particular campaign idea, sponsorship can help fill the financial gap.

?Create on-going revenue streams. If you have a strong network, sponsors will pay to be included in your campaigns which will help you offset your expenses.

?Bring credibility to your project.  Sponsors will be looked upon as partners for your project.  The more well-known your sponsors are, the more people will likely be convinced to buy in to your project, including other sponsors!

?Draw media exposure to your project.  Sure, sponsors expect you to promote them, but they will likely promote you as well.

When You Need Sponsors

So when would your brand want to look for sponsors?  There are several times when sponsors come in handy including (but not limited to) the following.

?When you host an event.  Most conferences and industry events will have many sponsors for their events which can help tremendously with event startup costs like renting conference space, booking speakers, blocking out hotel rooms, and other typically expensive investments.

?When you hold a contest.  One great way to increase fans and followers on social media is to hold a contest.  Sponsors can help add to the value of the prizes given away in your contest, whether they are physical prizes or simply cash prizes.

?When you want to get new ambassadors.  SocialToaster allows you to highlight sponsors on your sign up page.  This is a great way to encourage new ambassadors to sign up to a new brand’s campaign by including familiar faces in the industry and offering free prizes from them.  You can see an example of this in the image above on the Endless Beauty signup page with a chance to win a gift basket from their partner OSEA.

5 Tips for Finding Sponsors

Now that you know the why and when, let’s look at the how of finding and securing sponsors for your next major project.

1.Find similar projects and see who sponsors them.  If you’re thinking about starting your own annual industry conference, take a look at similar conferences in your industry and see who sponsors them.  There’s a good chance they would be interested in helping out with your event as well.

2.Show them past successes.  If this is your first time looking for sponsors, it may not apply, but if you are looking for new sponsors for an event or contest that you have held before, be sure to include some numbers from those previous events.  Specifically try to include the number of people involved so the sponsor can see how many people they might reach through their sponsorship.

3.Show them how you will promote them.  Let your sponsors know how you will promote them.  Will they get space on your website?  Will they get mentions in your social media campaign about the project?  Will they get their logo added to printed materials?  The more exposure they stand to get, the more likely they will want to sign up. Make sure social media promotions are organic and relevant, while still providing value to the sponsor.

4.Outline what you need from them as simple as possible.  If you create a overly complex or ambiguous process for someone to become a sponsor, you will either open the door to lots of questions or potentially lose some sponsorships opportunities.  Make the process for your sponsors to sign up, contribute to your project, and submit promotional information (logos, links, etc.) as simple and clear as possible.

5.Follow up with them to build a strong relationship for the future.  Don’t just forget about your sponsors once your project has finished – you might want to call upon them for future projects!  Send them a follow up letting them know about the success of your project and ask them for their feedback so you can have an even better relationship with your sponsors next time!

Build relationships with potential sponsors before you need them and remember sponsors are interested in the reach of your network. So start building your following to have a network of people the sponsor would be interested in getting in front of. Sponsorship through social media channels can easily turn your Twitter account into a billboard of promotions. Make sure you include sponsors in an organic way such as sponsoring contests and/or campaigns rather than promising you will send a tweet that says, “buy more Campbell’s soup.”