It’s a common myth that sponsorships are only for not-for-profits, associations and little leagues. Although my upcoming Sponsorship Made Simple class can help these organizations attract more sponsors, you’ll be leaving money on the table if you think you can’t get a sponsorship because you’re an entrepreneur, coach or consultant.
Heck, Madonna even has sponsors for what she’s doing. And we know she isn’t a charity.
Okay, so you’re not some big rock star or sports legend. Can you still secure sponsorships from other companies?
You see, the reasons why a company would sponsor Madonna are the same reasons they would sponsor you. Gone are the days when companies underwrote the costs for good will. Sponsorships are now a viable marketing tool, and they’re looking for a better ROI than just that it ‘feels good’ to help out.
The sponsor’s goal is often to reach a specific target market, so if you can answer these questions, you can get a sponsorship for something you are already – or planning on – doing:
Do you have a visible following? Think about your subscriber list, your social media, your relationships with traditional media. Any and all of these where you can clearly prove you have a following makes you eligible. And I should point out this doesn’t mean you need large numbers. It’s the quality of the following not the quantity that makes a difference. (The next question explains that more.)
Can you demonstrate a relationship with your following? The sponsors will want to see if you have a relationship with the people in your ‘tribe.’ Can you prove that you can influence these fans? Influence means you can give them a call to action, and they will respond. This is exactly why the quality of your following is more important than the quantity. There’s no ROI if you have 50,000 followers on Twitter but only 2 people are actually reacting to your tweets.
Are YOU willing to invest in a sponsorship relationship? If you think the sponsorship is over once the company has handed you the hard or soft money, then you’re not ready for sponsorships. The key is building a lasting relationship.
Can you prove that your sponsors will get a measurable return on investment? There’s a right approach and a wrong approach to this, and I can help. In Sponsorship Made Simple, I share exactly what companies are looking for.
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