Category Archives for "Relationship in business & sponsorship"

​Many nonprofits, charities, associations and event planners are missing an important step in the sponsorship and fundraising process. 

This one step can help you raise funds and attract the interest from brands and businesses you have not yet partnered with.

If you are not asking for references and testimonials from corporate partners and sponsors that you have worked with, you are missing out on attracting new partners and sponsorship to help you raise funds, increase revenue, and help you make a bigger impact in your community.

One of our Dream Raisers did a great social media share about the objections, internal chatter, and “noise” he had in his head that prevented him from doing the ASK for support or sponsorship funds.

Importantly, he did not listen to the noise but instead he stepped out of his comfort zone, did the ask, and the sponsor happily supported his project, again.

Typically, it’s fear of objections that paralyzes potential. That noise and internal chatter can prevent dreams from getting raised unless you do as he did: embrace the discomfort.

Remember it is always a NO unless you ask, and what if the answer is a YES?

I recently heard colleague and speaker, Karen McGregor, say something about speaking that also translates into the collaboration and sponsorship world.

She said, "One of the mistakes is that speakers don't understand what the audience is buying, e.g. transformation or the ability/skills to get over a problem. You can help them understand this through stories. You must share stories."

So how does the need to share stories relate to getting your projects funded, securing sponsorship dollars, attracting people to support your crowdfund, or turning prospects into contracts?

There are many desirable benefits of collaboration... Projects and dreams get launched faster when people come together with common goals, risk is reduced when responsibility is shared, and there are more ways to engage and recognize sponsors. Overall, the end result of any dream raised through collaboration and partnership can be much bigger and better than you may have achieved on your own.

Commonly, collaborative projects are often referred to as alliances, coalitions, partnerships, and networks. Working as teams or units provides the potential or ability to tackle and address challenging problems with innovative solutions.

Sponsors (and funding organizations) are more often encouraging (and in some cases requiring) collaboration as a way of reducing duplication of services, reducing risk, increasing results, and improving sustainability (you can read more here).  

When you understand that building sponsorship relationships is about marketing needs (and not asking for handouts), you learn to approach each step of the partner relationship building process differently, especially when it comes to the (...gulp...) discovery call!

Discovery calls are often the step in the collaboration and relationship process many speakers, authors, and entrepreneurs feel most apprehensive about.

So today, we’re bringing you 7 valuable tips and great questions to ask sponsors to help pinpoint their marketing needs.

One of the reasons a sponsor may say yes to providing in-kind or cash sponsorship (or combination of these) to your project, event, or big dream is that they see the value you are able to bring to their brand through your social media connections. 

In other words, sponsors see the potential to have ROI – return on investment – from their sponsorship and relationship with you. (Remember, it is important not to assume what sponsors want and need. Instead, ask them!)

Sponsors may have a goal of being seen in front of a particular audience and social platforms can create the targeted platform and buzz they desire. When done effectively, sponsorship social media strategies draw positive and desirable attention to both your sponsor (and your dream project).