Attracting sponsors

Just because you find your project fascinating and worthwhile does not mean that companies will give you money! Innovation and creative difference will be key parts of your strategy to attract sponsors, making your project stand out from the crowd.

It's business not charity

The days of cheque-book charity are pretty much over. Sponsors are looking for Return On Investment (ROI) rather than making goodwill gestures. Funders are looking for projects that help them achieve their core business, corporate and strategic goals, so find out what these are to see if your project fits with their goals.

Do your homework

Research the companies that have the best potential match in terms of corporate objectives, audiences or products that align with your project. Check out their vision, mission, values and products. Websites are great for this initial research phase.

Use your networks

 If you do not have wide or relevant networks, consider using a professional fund-raiser or sponsorship agency.

The power of one

Avoid mass approaches to different sponsors. Choose carefully and approach individually. Approaching the right person at the right time will often net you a better result than a scatter-gun approach.

Horses for courses

Not all sponsors respond to the same types of approach. Some like a smartly written case, others prefer a chat over coffee before an approach is made.

Smart packaging

In most cases, what you submit to sponsors is critical. They may have an in-tray full of opportunities to choose from, so making yours stand out is vital. You might want to illustrate how your delivered project will look by including a CD, a sample product, a portfolio of sketches, a marketing plan or even a computer-generated image.

Timing

...is everything. Knowing when the financial year falls for your targeted sponsor and how far ahead they are planning will be crucial. Find out what charities or projects they already support, and when their other major sponsored events are happening.

Exclusivity

Sponsors love exclusive rights, but can be happy to share rights if the other partner is of benefit to them. The value of your package will go up the more exclusive it is: naming rights for one sole sponsor are worth more than shared rights with ten others!

Value for money

Your package needs to stack up against other packages in terms of value. This means not only what you are asking for, but what you can offer in return, such as events, hosting opportunities, tickets for staff, family participation, speaking rights, etc.

Opportunities for leverage

Sponsors want to know how they can platform off what you are offering into other activities.

Competition for Investment

In seeking investment for your project, you will be competing with other projects from the arts, sports, welfare, and entertainment sectors. Trying to get onto the radar of corporate sponsors will require smart thinking, well-presented, and well-matched packages that have enough scope, scale and leverage opportunities to attract investment. Planning and valuing a package takes time as does making the approaches, so don't rush these essential stages! Download our Sponsorship Checklist to ensure you complete all the steps for making commercial sponsorship approaches.