Societies are encouraged to seek out sponsors early in the year (or even the year before) and to actively seek out new sponsors. Give potential sponsors plenty of notice, and formulate a proposal with emphasis on its benefit to the sponsor.
Successful sponsorship is dependent on good public relations – how you sell yourself to potential sponsors. The most successful way to secure sponsorship is to meet the criteria of the company you are trying to secure.
A company will consider
- If the project is in line with the corporate philosophy on sponsorship and donations.
- If the project is well packaged.
- If there are convincing supporting arguments and the needs are clearly identified.
- If the society has shown ability to implement the project.
- If there is a mutual benefit for both society and sponsor.
Key items to secure sponsorship include flexibility, negotiation and a deep understanding of the company. Consider the following possibilities:
- What benefits can be offered to the company? E.g. Could you offer them a stand on membership recruitment days.
- How can the companies name be promoted alongside yours? E.g. The use of their logo on all promotional material.
- Does the company sponsor anything else in the college?
- How can the company staff become involved?
- Can the activity/event be called the X Company Event?
Provide a list of the amounts of money you are looking for. That way they have different options in the way they want to contribute. Even if they cannot contribute this year, they might be able to do so next year, therefor always be polite and reply thanking them.
- Existing members – Have any of your members a placement link or have family in a business?
- Ex members – Check college alumni to see if any former members have made it big since leaving.
- Companies in the local area – Companies on campus and local businesses.
- Suppliers – An ideal way to save money on items such as clothing.
- Past/Current sponsors – Rekindle a deal by telling them about your events, emerging talent, charity work, how to use their logo etc.
- Do your homework – know the company. What is the primary product or service? What are the expectations? Who are the customers?
- Be prepared! Call the company only to find out the name of the person you need to write to. When writing be business-like and precise. Present your proposal to allow the company to easily identify what you want, why, who will benefit, its role and how much. Call them 1 week after if you have not received a reply. Make sure the letter was received and offer to answer any questions.
- Use your imagination. It’s more than promoting the company’s name. Examples include naming rights, credit advertising and direct participation.
- Follow up on any offer to help you, even if the company cannot help, send a thank you letter.