The 7 Key Elements of an Effective Sponsorship Proposal
Last Updated on December 25, 2022 by Selina Parker
Meta Description: Read on to learn how to write a sponsorship proposal to get you the funding and support from companies to grow your business.
An event sponsorship proposal or any sponsorship proposal can be a tough nut to crack. There are many sponsorship opportunities out there, and the competition is fierce.
The sponsorship process seems like a cinch: identify prospective sponsors, contact them, give a sales pitch, and finish. The problem is each firm you got requested a sponsorship proposal. So how do you create a sponsorship proposal letter that will attract sponsors?
You need to know how to write an effective sponsorship proposal that will get you results. This article will cover the critical elements for writing a sponsorship proposal that gets your business noticed and generates revenue.
What is a sponsorship proposal?
Your sponsorship packages should include your sponsorship proposal and other documents. It outlines a sponsorship opportunity and how the sponsor can benefit from it.
Tailor your proposal to the company you target as a sponsor and highlight how their investment will help achieve specific goals and objectives.
A sponsorship proposal aims to get the potential sponsor interested in your offer and convince them to sign on. It’s important to remember that sponsorship is a two-way street.
In sponsored events, the event sponsors gain exposure and marketing opportunities to their target audience, while the funded organization receives financial or in-kind support.
Before you start writing your sponsorship proposal, there are a few things you should keep in mind:
It can be long or short
The length of an event sponsorship proposal template depends on the amount of information you need to provide; sponsorship proposals can be short or long. A more concise proposal might only be one or two pages, while a more comprehensive proposal could be five or six pages.
Customize it for each prospective sponsor
No two sponsors are the same, so your sponsorship proposal should not be either. You need to tailor the proposal to fit each company’s needs and interests.
It should be persuasive.
Your sponsorship proposal is your sales pitch, so you need to make sure it is convincing. The goal is to get the sponsor to say “yes” and agree to become a partner.
It should be clear and concise.
Sponsorship is a business transaction, so treat it as such and keep your sponsorship proposal concise and clear. The more you ramble, the less likely the sponsor will invest in your sponsorship opportunity.
Include all the pertinent information
Include all relevant information about the sponsorship opportunity in the proposal. It provides information about the event or organization, what the sponsor will receive, how much it will cost, or the overall sponsorship package.
Provide proof and supporting documentation
All sponsorship proposals should be accompanied by proof and supporting documentation. It might include sponsorship case studies, testimonials from other sponsors, or letters of endorsement.
Now that you understand the basics, let’s look at the essential steps for writing an effective sponsorship proposal.
The 7 Key Elements of an Effective Sponsorship Proposal
The good thing is that, like every other proposal plan, you can use a similar sponsorship proposal template in seeking sponsorship.
The executive summary should be the first section of the sponsorship request that provides a quick but helpful overview of the event your organization will be hosting for your target sponsor. You should include the prospects, benefits, gains, and timeframe for the sponsor’s decision and investment. Maintain a short and easy-to-understand summary.
The following section is the introduction. Provide the vital facts your sponsor(s) would want to know, just like you would in any other opening. This section contains information about your company and the upcoming event.
Give a background that will inform the sponsor about the organization’s character, the reason for organizing a significant event, and anything else helpful and vital that will aid in getting a good response from potential sponsors.
Although you mentioned the event in the introduction, you could not describe it deeply.
This portion of your sponsorship proposal is where you give a complete overview of the upcoming event’s details like the day, date, venue, target market, and the purpose of the event.
You can also include any information about previous and similar events hosted by the group. It allows potential sponsors to observe a trend of how the events fared and determine whether or not they would be a good fit to fund it.
This section of your proposal aims to let your sponsor know what you want them to support. Your organization asks for the sponsor’s resources, including their time, money, prizes, product(s), promotions, or expertise. You have to include the price in this section.
If you consider the actual and realistic expenditures, the sponsor will get the impression that your organization is willing to commit. Verify that the perks you intend to offer the sponsor prospect(s) correspond to the level of support your organization requires.
This aspect of the sponsorship plan should list all the advantages and possibilities that the sponsor/s will receive from supporting the event. Benefits should include both tangible and intangible benefits.
Is it an audience sponsorship wherein the sponsors can connect with the target market? Is access to an exclusive event only available for sponsors and their prospects/customers?
Quantifying the benefits is also recommended to provide the sponsor/s with a benchmark against which they can compare their selection. This way, they will be able to see the value of their sponsorship and understand how it can positively impact their business.
Sponsor Decision Timeline
It should take no more than two weeks to finish a sponsorship offer. A ten-day or less deadline demonstrates to the sponsor prospect/s that your organization is prepared to wait a reasonable amount of time for sponsor consideration. It also provides a message that tells prospects how long they have to respond.
You need to state the desired objective assessment to establish a timeline. Finally, other planned activities, such as scheduling a meeting and arranging for a follow-up presentation, may be completed on time.
You should provide a page of references or sources to substantiate the facts and data expressed in this section. As well as pertinent figures, charts, budget lists, background sources, and other items, this section should improve the sponsorship proposal.
Writing an effective sponsorship proposal is an essential task in securing sponsorship dollars. It can be the difference between a successful and unsuccessful event. By following the seven key elements in this article, your organization can increase its chances of securing sponsorship support.
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“What began as a life and career coaching services company to aide entrepreneurs through the early-stage challenges and tough transformations of starting a social venture has evolved over the years to include mergers and acquisitions, organizational consulting, and business growth advisory services to mission-driven organizations that strive to improve access to basic physiological, safety, and security needs while increasing their profit margin. Clients include founders and organizations with the purpose of addressing deficiencies in delivering quality healthcare and mental health services, sufficient employment, access to clean water and air, safe shelter, adequate food, and more.”
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