Major and Title Sponsorship: The Five Stages · marketing firm focused exclusively on: •...
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Major and Title Sponsorship: The Five Stages
Transcript of Major and Title Sponsorship: The Five Stages · marketing firm focused exclusively on: •...
Major and Title Sponsorship:The Five Stages
About MeChris Baylis is the Managing Director of The Sponsorship Collective, a boutique marketing firm focused exclusively on:
• Sponsorship strategy• Inventory building and asset valuation• Sponsorship coaching
Chris is a sponsorship expert and has managed the entire spectrum of the sponsorship process, from multi-million dollar campaigns to local event sponsorship….and everything in between.
Get in touch:
sponsorshipcollective.com/gailperry@CPBaylis
Goals of the Session• Identify the stages required to
close the biggest sponsorship deal
• Dispel myths that are driving your prospects to your competition
• Outline and understand the entire sponsorship sales process
• Understand what your prospects are looking for to get them to six and seven figures
What is Sponsorship, Really?
What is Sponsorship, Really?At it’s heart, sponsorship aims to achieve one of two things:
Helps your sponsors get something they want but don’t have (customers, leads, brand awareness)
Solves a problem they have but don’t want (brand confusion, bad reputation, lack of customers)
The Five Stages of Sponsorship
Inventory building and valuationProspectingGetting the meeting (and what to do once you have it!)The sponsorship proposalActivation, fulfillment and renewal
Inventory Building and Asset Valuation
Why start here?
Inventory Building and Asset Valuation
Why start here?
Your inventory tells you who you should be talking toIt guides your budget! No assets, no salesIt gets your leadership, board, admin staff…everyone on the same pageMajor sponsorship requires a major inventory!
Inventory Building 101Logo placement (posters, shirts, advertising)Speaking opportunitiesNewsletters and mailingsNaming rights of programs and eventsPermission to use your logoExclusivity product agreementsDatabase accessSocial mediaE-‐mail mentionAudience Your business (what do you currently spend money on?)VIP seatsProduct salesPermission to hold kick off events with press
What’s Missing Here?
Congratulations!You now have an inventory list…
…but what is each asset worth?
Current Valuation Practices
• Tiered sponsorship packages
• Doing what you did last year
• Starting with how much money you need
• Shoulder shrug method
The Solution?• Make a list of every single asset you have to offer, without exception
• Look at how much it will cost your sponsor to get the same exposure elsewhere
• Determine the value of your tangible and intangible assets
• Don’t forget to add a “bump” to the tangible items based on the value of your brand
• Look to newspapers, digital media, social media advertising, a cross section of similar properties
Valuation Case Study• Two identical properties, different geographies…same sponsor!
• Property A is giving away space for product and samples as a “value add” to a sponsor
• Property A is afraid to charge for this as they fear they will lose the sponsor
• Property B did a valuation and that same asset, to the same company for the same property goes for…
$50,000
Valuation 101Many approaches, the two most popular:
1) The market valuation approach applies a value to every logo placement, booth, ad, speaking engagement etc.
2) The value method is easier but is more art than science. You determine that the sponsorship of the wine is worth two or three times the cost to purchase the wine and recognize your sponsors.
Sample Valuation Template
Wine Sponsorship
Wine $750.00
Signage $175.00Branded tent cards $125.00
Logo on website $375.00
Logo on invitation $500
Ad in program $250.00
Cost per view at event ($5 X 250) $1250.00
Sub Total $2925.00
If you use the “value” method then this would be a $3150 sponsorship (3 X the hard costs)
In this case, the two methods reach the same number, but this is rare
sponsorshipcollective.com/gailperry
Let’s Prospect!
Prospecting is a Numbers Game
Start with your assets and ask:
A. Who is coming to your event?
B. Who does your brand appeal to?
C. Who would want to know about this opportunity?
Look to your board
Look to your committee
Ask current sponsors for referrals
Look to your direct competition
Look to other orgs that are not competitive but appeal to a similar demographic eg. Top 40 under 40, Toastmasters, Professional Designations, Professional Education
The firewood rule
Does Your Board Suffer From the Dreaded“Nocontactitis”?
The Cure to “Nocontactitis”
Sponsor Recruiting TipsTreat board and committee members like sponsors! E-blasting them asking for “contacts” won’t work. Meet them for coffee and ask for help
Research your board members and current sponsors and go with a list of people you know they are connected to
Use LinkedIn to determine who is in your network and work in concentric circles, starting with those closest to you
The power of the advice visit! Ask your contacts to meet and ask them for advice as to who else you should meet and what assets you’re missing. Ask them who they can introduce you to. Be specific
Ask for referrals: current sponsors, volunteers, committees, investors, board, business contacts and service providers, your own referral network
Throw a Party!The business breakfast!
Networking events
One on one advice visits
Ask people for “pre-qualified” contacts
“Friday Five”
Sometimes You Have to Go in Cold
Ask for an intro from all of the sources we’ve covered
Write the e-mail for them, all they have to do is forward
Find something in common and warm up that call with an e-mail
…but not just any e-mail!
Three Rules to E-Mail Success!
1. No more than two sentences. No exceptions!2. Never send a proposal, your mission, your website
etc. The only action you want them to take is to hit reply or forward
3. Never tell them what you need, instead ask them something
4. Top secret rule number four: “Will Alison’s Boss Read This?”
Do you want to see an e-mail that landed me a six figure sponsorship?
Steal My Email Template(my most controversial slide)
Steal this Template!Hey Dave,
I saw on LinkedIn that you are involved in X, I would love to connect and ask your thoughts about a cool project I'm working on. Are you free tomorrow at 3:00?
Chris
(no title here, just my name)
…why does this work?
sponsorshipcollective.com/gailperry
Why Does This Work?So short , they can't help but read itYou flatter them and ask for adviceYou give them a date and time, changing the decision from yes/no to whether or not the time worksIt isn't a 20 page proposal!It’s focused on them, not you
Getting the Meeting
Never go in Proposal First!
Case study alert! The tale of 10,000 sponsorship proposals!
You’ve Got the Meeting!…now what!?!
When You go to the Meeting, Bring the Following…
When You go to the Meeting, Bring the Following…
Nothing
The Following Things are not Examples of Nothing:
One pagersProposalsAnnual ReportsBuckslipsInfographicsLeave behindsBookmarks
Why Bring Nothing?“When someone hands you a flyer, it's like they're saying here you throw this away.”
~ Mitch Hedberg
Here’s What Else it Does:You tell your prospect that you don't care about them or their needsYou care about telling them something vs hearing somethingYou have assumptions about what they want and what they can do for you, and what you can do for themMost importantly, it robs you of accomplishing the only goal of the first meeting: to get the second meeting!
So What DO You Bring?
Lots and lots and lots of questions!
Five Questions for Every Prospect
1. Who is your target audience?2. How do you normally engage in sponsorship?3. What does your target market value?4. What can you tell me about your sales goals for the coming year?5. What would you consider to be the most important elements of a
sponsorship package?
Now we can make a sponsorship package!
Sponsorship Proposals 101Gold, Silver, Bronze is dead! Customize, customize, customize!
Think menu, not “levels"
Add all of the things they told you they value, apply your valuation tool and create your package!
Some sections will be standard, like who you are, the rest is custom
Mark it DRAFT and send it to your prospect to ask them for their thoughts
I’ve Got the Money! I’m all done…right!?!
Not quite! Now it’s time for Activation!
It is your responsibility to ensure that your sponsor gets everything they paid for
Tickets? Ads? Logo placement? Press? Not only do you have to deliver but you are going to send them a report proving you delivered
Common Errors• Not planning at least 10% of your
budget for activation expenses
• Not charging for this as part of your valuation!
• Not coaching your sponsors to invest money in activation
• If they have 10K to spend, don’t sell them a 10K package! Make sure they can activate properly
• Ambush marketing
Steal this Template!Asset Deadline Lead
Design signage 1-‐Feb ElaineLogos from sponsors 1-‐Feb GeorgeApproval from sponsor 15-‐Feb KramerPlace signage at event 1-‐May FrankOrder tent cards 1-‐May EstelleApproval from sponsor 15-‐Feb BabsPlacement of tent cards at event 1-‐Jun MortyGet names of guests from sponsor 1-‐May HelenAdd logo to website 1-‐Feb JerryAdd logo to invitation 1-‐Feb ElaineSend branded invitations 1-‐May GeorgeDesign ad for program 1-‐May KramerAd approval from sponsor 15-‐Feb FrankSecure booth space 15-‐Feb EstelleGet names of booth attendees 1-‐May BabsDesign e-‐blast for database 1-‐May MortyApproval from Sponsor 15-‐Feb HelenInvite sponsor to speak at event 1-‐Jun JerryIntroduce sponsor at event 1-‐Jun ElaineWrite speaking notes for MC 1-‐May GeorgeVIP meet and greet organising 1-‐May KramerExtend invitaitons to key sponsors 1-‐May Frank
sponsorshipcollective.com/gailperry
Your Mother was Right!
Don’t forget to say thank you!(Twice! Once in English and once in the language of marketing)
What is a Fulfillment Report?
• Doing what you said you would…and proving it!
• It gives your sponsors a tool to prove to their internal decision makers that they got the ROI they expected
• Sets you up for renewing the sponsorship within weeks of the event or end of your campaign
Fulfillment Report Basics • Take a picture of every single thing you promised
your sponsor: logos, program ads, people…everything!
• Get a sample of everything you promised your sponsor
• Take screen shots of web traffic and logo placement, social media and earned/purchased media
• Put it all together in a report with stats from your event or program along with all of the pictures and samples and call a meeting!
Steal this Template!Asset Status Notes
Dinner delivered DeliveredSignage at event DeliveredBranded tent cards Delivered10 Guests in attendance Did not deliver Sponsor opted not to send all 10 guestsLogo on website DeliveredLogo on invitations to database Over Deliverd Sent branded save the date and invitaitonFull page ad in program DeliveredExhibit space Did not deliver Sponsor opted not to have a boothCustom e-‐blast to database Over Deliverd Sent three e-‐blastsSponsor addressed the crowd DeliveredSponsors thanked by MC DeliveredTwo VIP tickets Delivered
Now, put it in a report with stats from your event or program along with all of the pictures and samples
and call a meeting!
sponsorshipcollective.com/gailperry
How a Fulfillment Report Saved The Day!
Case study alert! The tale of the texting sales rep!
RenewalNow you can relax…right?
Deliver your report and ask your sponsor what they thought, what they would change and what they want more of
Now for the fun part! Ask them what you should change in order for them to come back next year
Ask if you can send over a draft for their feedback
And now we’re right back where we started…but within a week of the closing of your event
How would you like to go into your next budget cycle having 80% of your sponsors already sold?
Bringing it all Together
1. Inventory building and asset valuation2. Prospecting3. Getting the meeting4. The sponsorship proposal5. Activation, fulfilment and renewal
The Five Stages of Sponsorship
The sponsorship proposal doesn’t make the sale…
…YOU DO!
Questions?
Chris BaylisThe Sponsorship Collectivesponsorshipcollective.com/gailperry@[email protected]
