A sponsorship proposal is an official proposal used to acquire the best sponsors in introducing your products and services, in getting the money to achieve a certain event, and in planning to deliver programs or events that meet the objectives and the budget. And this formal proposition is needed rather than just begging for sponsors to fund you. That is because sponsors would want to know if their money would be used for the right reasons, most especially, on how they also benefit from sponsoring you. Thus, a well-written and winning sponsorship proposal is the ultimate goal to get the attention of potential sponsors.
According to Statista, global sponsorship spending was estimated to $62.7 billion in 2017.
Also, it was reported that securing sponsors is part of the top three highly challenging facets of a job.
Why Are Sponsorship Proposals Important?
Sponsorship proposals are essential because such documents provide the whole information on what to expect for sponsoring a certain event. Before a sponsor agrees to fund an event, it is only natural that they would want to know about the budget plan, the flow of the program, the organizers, and so much more. And the most important details are how much the budget is, how the sponsor and the organizer will benefit from the sponsorship, and how the budget allocation goes.
Also, sponsorships are relevant to all sorts of events may it be a charity, school party, beauty pageant, fundraising, business conference, or even a concert. Hence, a sponsorship’s functions are limitless. In fact, sponsorships are popular worldwide. Based on statistics, the global sponsorship spending was estimated up to $62.7 billion in 2017 alone. Thus, do not limit sponsorship proposals to a few events only. And lastly, a sponsorship proposal serves as the introduction of what to do before a plan starts to work. Once the proposal is approved, executing the proposed plan ensues.
A sponsorship proposal may contain different content for each example. But, there are also common factors found in standard examples. And here are some of the most significant parts expected in a basic sponsorship proposal:
Sponsorship Opportunities: The sponsorship opportunity marks the proposal’s executive summary. Be sure to summarize and explain the important parts of the sponsorship program, particularly how the sponsor finds the idea advantageous. A tip is to write in bullets to get the gist right away, rather than using complete and lengthy sentences. But, it should still be readable or understandable. Focus on defining your job, who or what your business is, and how the sponsor benefits in considering the sponsorship in the first place.Marketing Goals and Objectives: How does sponsoring affect the sponsor to agree with your proposal? That is what you are going to prove to sponsors in the marketing goals and objectives section. Be realistic with how sponsors benefit from the idea because they would automatically reject the offer if it will not do them any good. You could help them satisfy with their sales, increase gross sales to 10%, or any other idea that you think would help the sponsor. Expect to ace this section when you really know your sponsors that well.Monitoring of Success: Once the sponsorship system is approved, how will its success rate be measured? Therefore, you should come up with the proper metrics to evaluate the success of an event. Adding qualitative and quantitative rating scales will help do the trick, as long as they are appropriate. Without monitoring success, it would be hard to determine if every action planned was actually given or was performed directly as planned. Also, ensure that the results of the evaluation have met the objectives.Value to the Sponsor: Of course, you cannot forget about the value of the sponsorship to the sponsor. Be sure to talk about their strengths, capabilities, and aptitudes as if you are writing a cordial letter to them. And besides the kind acknowledgment, focus on the business side too by measuring the organization’s profitability ratio and adapting it into your sponsorship process. Most importantly, state the benefits acquired from the sponsorship as a reminder that the whole procedure was actually a success.
Sometimes, asking for funds feels embarrassing. But if it is the only way to possibly achieve your goal, then you have to do it cordially instead of demanding it. In fact, securing a sponsor is one of the top three highly challenging factors in a job. That is, according to Social Tables. However, the process of recruiting sponsors can be managed promptly when you prepare a well-crafted sponsorship proposal. And you can create a sponsorship proposal by following these six easy steps:
Step 1: Set a Clear Offer
First things first, what are you offering in the first place? Or better yet, answer why your event should be sponsored. It should be deserving or comes with a good cause for sponsors to consider. You may start discussing the expected outcome from what you promise for the sponsor to happen when they fund your event. Next, set your demographic target with an audience analysis to be sure of who your target audience is. And most especially, determine the marketing strategy. A clear plan should be made so sponsors feel confident about sponsoring you and that they feel valued as well.
Step 2: Use a Sample Sponsorship Proposal
You can draft your sponsorship proposal within seconds by downloading the sample templates enlisted on top of this article. You will have plenty of options to choose from where you can edit the design, format, and content of your proposal. Also, you have the option to choose either the MS Word or PDF version. The same goes for finalizing if the proposal should be sent via email or you will print and submit it to the sponsor personally.
Step 3: List Potential Sponsors and Check Compatibility
Before completing a sponsorship proposal, it only makes sense to have an idea of your list of potential sponsors first. You even have to consider both quantity and quality when you invest time working with sponsors soon. One factor to consider in the listing is the sponsor’s relevance to your business. Do you think they are a perfect fit to work with your brand? For example, it would not be wise to search for a non-profit organization if you need corporate sponsorship. Next, consider the location if reaching out to them is convenient. And lastly, check their previous sponsorships to review their history if they worked well with other companies before, and if their previous clients are compatible with your business.
Step 4: Align Your Purpose and Objectives to the Proposal
What makes your sponsorship proposal unique is when you place your purpose and objectives into that document. Be sure to introduce your organization and its mission. Also, it must answer what your event is about may it be a charity, racing game, business conference, and many more. Sponsors naturally request the full details about your organization, its proposed event, expected budget, and why sponsoring helps them. Hence, you also have to consider the sponsor’s needs and not just yours.
Step 5: Insert the Parts of a Sponsorship Proposal
Can you still recall the main parts of a standard sponsorship proposal discussed earlier? Ensure that you have them in your proposal. So down from the sponsorship opportunities down to the value to the sponsor, add them in your document. You can also be more detailed by adding the primary audience data, contribution list, sponsorship benefits, branding elements, event insights, the estimated value of funds, budget allocation, and more. But, stating more details means you have to be direct to the point. That is because some sponsors might not have a long time to read everything.
Step 6: Contact the Sponsors and Update for Responses
Do not forget to contact the sponsors or any representative from them so you can submit the sponsorship proposal. You only do that when you have finalized everything from the sample. If you are done editing and writing the details, send it to the sponsor and wait for a response. Negotiations may come in handy to help them change their minds if ever they refuse. But it also means that you should not be pushy because there are always other options out there if one organization rejects your offer. Hence, accept the responses gracefully whether it is a yes or no.
Besides the standard elements of a sponsorship proposal that were introduced earlier, you can also follow another common structure of a sponsorship proposal. And they consist of: the introductory statement, why the event and sponsorship matter, value, team meeting, sponsorship level, how sponsors are represented, terms and conditions, closing statement, and the signature line.
There are many possibilities that could have your sponsorship proposal to be flawed. One example is when you write generic details in the proposal. Sponsors receive lots of requests and they might not have enough time to read everything. So it would be much better to be more straightforward. Also, it is wrong to write details that are only going to benefit the client. Think about the sponsor’s benefits too. Otherwise, sponsors could reject the offer pronto. Another bad example is when you failed to describe your goals and objectives in the proposal. Make your sponsors understand first, and you can always discuss with them the details when you provide or ask for contact details.
There are many ways you can make your sponsorship proposal stand out from competitors. And some examples are:
- Promote hashtags, live videos, and social media content about the event online.
- Take videos of events live so it will be easy to see what actually happened during such events, rather than just describing by word.
- Offer a VIP access program where special benefits await those who sponsor your event.
- Market the sponsors through written content like blogs, newsletters, and websites.
The competition towards sponsorship is more rampant nowadays, especially as more companies and organizations arise. And with that said, it is also crucial to be competitive in creating an excellent sponsorship proposal. That way, there is a higher guarantee that you will win sponsors rather than just submitting a generic proposal. And as you apply everything you learned in this article, rest assured, your sponsorship proposal is in good light. Download sample sponsorship proposals now!