Cathy and I attended a session at the fund raising Expo this afternoon. The session was a panel discussion with three leading community sponsors (SBS :Southland Building Society, Bowater Cars and Woollaston Estates )and focused on what sponsors look for. The session was very interesting and useful. Here is a brief run down on the points discussed:
General tips on sponsorships
Know the difference between sponsorship and a philanthropic donation.
Sponsorship benefits the Sponsor as well as the sponsored. Sponsorship does not always mean money; it could be in the form of trade goods, staff time or expertise, use of facilities.
What’s in it for the Sponsor?
Companies looking to sponsor organisations want to know what benefits they will get back from the relationship. These benefits include:
1. The Feel good factor –sponsorship improves the way the community perceives or feels about the company
2. Brand enhancement – raises the profile of the company
3. Revenue generating – sponsorship directly leads to an increase in sales / business, or reduces costs to the company – e.g. advertising costs
When applying for funding you should:
1. Know the organisation that you’re asking for funding from. What they do and what their philosophy is. Apply to businesses that match your goals/business
2. Apply for initial sponsorship by letter, addressed to the person in the organisation who makes sponsorship decisions. If you can’t find out who that is address your letter to the CEO.
3. Always phone or email the company a few days after you have asked for funding. They like to know you do actually want it and are committed.
What a sponsorship application should have :
1. Clarity: What you want the funds for, or what you are going to do with the funds, what the outcome of the sponsorship will be, benefits to the community, how the sponsorship will benefit the sponsor.
2. Honesty: How much you really need and how much you want from them. What you will accept if they are unable to give you what you want.
3. Accuracy: Be realistic in your assessment of your needs and the value of the sponsorship to the sponsor. Specify the exact costs you expect to face.
Once you’ve got the sponsorship:
1. Maintain good communication with the sponsor. Let them know how your project or other outcomes of their sponsorship are going. Send them press article, photos etc, showing the progress of your project, etc.
2. Show your appreciation. Send thank you cards; invite sponsors to opening nights, launches, prize-givings, etc. Let your sponsor know how valuable the sponsorship has been to you – or they may not provide sponsorship in the future.
3. Have a debrief, or review of the sponsorship deal. If the sponsorship is ongoing have an annual review to look at the sponsorship relationship and whether it can be changed to better benefit both parties. It is a good idea to have fixed terms on the sponsorship deal which can be extended in the future – rather than having an open ended sponsorship deal.
4. Whether the sponsorship is a once off, or ongoing – show loyalty to the sponsor. E.g. don’t ask a sponsor for money and then only use their competitor’s products.
Louise
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