Initiate Corporate Sponsorship in 5 Steps
Sponsorship opportunities are a highly strategic and effective way to bring corporate attention and dollars to your campaign. However, it takes careful consideration to get this right. That’s why Cogeo has put together a list of steps to help navigate your sponsorship journey.
Gather data on what sponsorship opportunities your organization can offer. First and foremost, you need to know what your organization has that corporations might be interested in. This can range from physical advertising space to digital marketing to in-person and event opportunities.
For example:
The Horizon Community Learning Center thought to offer rotating ad space on their high-tech Smart Boards available in the lobby of their primary school.
Horizon also offered promotional space along the outfield fence on the baseball field and on their basketball court scoreboard.
The Chicago Lions Charitable Association offered to announce the name and description of their sponsors during their rugby matches.
Lucky Penny Productions Theater offered full-page ad space on the back of each show program.
The Villarreal Nebraska Academy included promotions within their newsletters, on their website, and within the social media profiles.
Get creative! There are ad platforms and sponsorship opportunities for every size and type of organization.
2. Place a price on the opportunities. It’s up to your organization to determine the worth and return-on-investment (ROI) of your sponsorship opportunities. This step can be challenging and is never the same for every organization -- we highly recommend that you consider reaching out to Cogeo or another professional who can help you assess these amounts based on your organization’s unique goals. However, here are some questions that can help you with this activity:
What is the combined foot traffic expected at your location(s) each year?
What percent of those visitors are male vs. female?
What are the age ranges of the visitors?
What is the estimated average household income?
Does your organization have full right to sell sponsorship to the facility, including:
Signage
On-site displays
Sales
Sampling
Do you have the possibility to dedicate vendor deals? (ie: beverage, lighting, turf, etc.)
How many email addresses are within your database?
How many physical addresses?
How many followers do you have on social media platforms?
Facebook?
Instagram?
Twitter?
LinkedIn?
How many unique visitors visit your website each month?
What percent of those visitors are male vs. female?
What are the age ranges of the visitors?
What is the estimated average household income?
Are there any sponsorship categories that would be off limits? (ie: alcohol, tobacco, etc.)
These questions are often the tip of the iceberg when it comes to determining worth. Many organizations have specific needs and require a conversation and audit to properly determine a price for your sponsorship opportunities.
3. Determine how/whether to bundle opportunities. A strategic way to make your opportunities highly valuable is to bundle them. Prioritize a variety of sponsorship opportunities across different ad platforms and offer them as a package deal at a higher price.
For instance, Villarreal Nebraska Academy created a top-tier sponsorship bundle that included:
Special signage and advertising at events and tournaments
Sponsor's name on a sponsorship plaque wall
Monthly recognition email/ad sent to VNA’s membership list
Weekly social media recognition
Premium ad space on VNA’s website
They were able to place top dollar on this bundle available on an annual basis to make the most of their inventory and create a larger ROI for the sponsor.
4. Create the material. Present this information in a clean and pleasant way that is easy for corporations to digest and know their options. Use a design app to neatly structure an image of the sponsorship opportunity next to it’s price.
Click on the content below to see examples of successful sponsorship material:
5. Find interested corporations. The best way to connect with corporations interested in sponsoring your campaign is to look within your organization’s community. As you meet with individuals or families to educate them about your campaign and possibly ask them for a donation, discuss their place of business. (Hopefully, you’ve done your research prior to the meeting and know where they’re employed beforehand.)
By working through your current community full of individuals who have an affinity for your organization, you’ll have a more strategic path to the decision makers at the corporation who can agree to a sponsorship, as well as the size and type of sponsorship. Avoid cold calls or submissions. Online forms are, more often than not, black holes.
For instance, the Villarreal Nebraska Academy worked through their community and had a conversation with an individual who was associated with SCHEELS. Through this connection, they were able to sell one of their high-level sponsorship packages and begin a fruitful partnership.