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How to prepare for corporate sponsorship

Understanding your corporate prospect and their objectives early on is a key factor in taking the relationship to the next level and leading to a successful partnership.

1

Prepare internally

Before undertaking any prospect research, be clear about your own organisation's sponsorship objectives and know your limits.

2

Have a pricing strategy in place

Decide what sponsorship benefits you are feasibly able to offer as an organisation and cost it out effectively (you can tailor these further at a later stage). Also work out what is the maximum percentage you are willing to invest in the sponsorship.

3

Undertake thorough prospect research

Try and find out as much as you can about the company and work out exactly why you think they will be a good fit in the first place. Think outside the box and find other research tools as well as just their website

4

Aim to secure meeting with a decision maker

It is worth investing a bit of time in trying to meet with the person who will have some power over the final decision and distribution of sponsorship. Not only will this save you time in the long run, but you are also more likely to find out the specific sponsorship and marketing objectives straight from the horse’s mouth!

5

Put a corporate hat on

Play devil's advocate! Write a list of questions you think you would want to know if you were a potential corporate sponsor. This is where your internal knowledge of your organisation and sponsorship strategy will come in handy because you will need to be able to answer those questions yourself before you go into a meeting.

6

Carry out effective preparation techniques for your first meeting

To gain a better understanding of our corporate prospect it is important to carry out effective preparation techniques for your first meeting.

Don’t assume you know what they want. Do as much research as you can but also be prepared to think on the spot on the day.  By asking the right questions the meeting can then naturally progress and take you to a direction you may have wanted or to a direction you had not thought off but equally as good.

7

Use that as a springboard for future engagement

Based on the outcome of that meeting you can then further tailor your pitch and create a unique bespoke partnership which may even lead to a long term relationship- remember it needs to meet with your objectives too

Effective preparation goes long way in placing you ahead of the competition so is time well worth investing in!

Further information

Originally drafted by Layla Moosavi (laylam11@hotmail.com) Layla has 16 years fundraising experience in the charitable sector and the arts; specialising in corporate fundraising and sponsorship.

 

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Page last edited Jul 05, 2017 History

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