I've been involved in the creation and sale of sponsorship packages for 15 years, starting with People magazine. What I have learned over the years are some valuable tips that I would love to share with you today. Sponsorships are a great way to increase your audience and possibly generate incremental revenue. Firstly, it is important to understand your sponsors' goals. Just like you, they have different objectives. They may want to sample a product or service, increase brand awareness, or reach a different audience. Therefore, it is crucial to sit down with your potential sponsor and find out what their goals are. Customization is key here. No one likes a package that feels generic and has been presented to everyone else. Your sponsors want to know that the package was specifically created to meet their needs. Remember, there is no one-size-fits-all approach. Another critical point to remember is that the perceived value of your sponsorship package has to be greater than the cost. For instance, if your cost is $50,000, ensure that the perceived value your sponsor is receiving is $75,000 to $100,000. They need to feel confident in their decision to invest this money and be able to justify it to their company, shareholders, and customers. If they see that their objectives are being met, it becomes much easier to close the sale. Furthermore, execution is everything. Even if you have an excellent sponsorship package, it is essential to deliver on your promises. Make sure you provide your sponsor with everything that was included in the package. Failing to follow through will result in losing the sponsor, and it can be challenging to find a good one. Remember, longevity is key, so treat your sponsors well. When creating a sponsorship package, put yourself in your sponsor's shoes. Consider...
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Corporate sponsorship template Form: What You Should Know
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