How to Succeed in Sponsorship
Summary
TLDRThis video outlines seven key reasons for success in sponsorship, emphasizing that luck is not a factor. It stresses the importance of clear goals, thorough research, avoiding common traps, maintaining a targeted contact list, respecting rejections, pursuing diverse sponsors, and learning from failures. The video encourages viewers to reflect on their strategies and adapt for better results.
Takeaways
- 🎯 **Clear Goals**: Successful sponsorship seekers have well-defined goals, which are crucial for measuring progress and ensuring they stay on track.
- 🔍 **Research**: Conducting thorough research on the audience, activation ideas, and potential sponsors is a hallmark of successful sponsorship seekers.
- 🚫 **Avoid Common Traps**: They avoid common pitfalls such as relying on generic sponsorship packages or mass emailing strangers without a targeted approach.
- 📋 **Quality Contact List**: Instead of a generic list, they maintain a curated list of contacts who are genuinely interested in their audience and sponsorship opportunities.
- 🤝 **Respectful Communication**: They treat potential sponsors with respect, even when faced with a rejection, which can lead to referrals or valuable feedback.
- 🌐 **Diverse Sponsorship**: They pursue a mix of sponsors of all sizes, reducing risk and creating a sustainable sponsorship ecosystem.
- 📈 **Learning from Failure**: The best sponsorship seekers learn from their failures, adapting their strategies rather than repeating the same unsuccessful tactics.
- 📊 **Measurable Outcomes**: They understand that what gets measured gets done, emphasizing the importance of tracking specific goals and outcomes.
- 💡 **Strategic Approach**: They focus on a strategic approach rather than a 'spray and pray' method, ensuring their efforts are directed towards potential sponsors who are likely to be interested.
- 🔁 **Adaptability**: Successful seekers are adaptable, willing to change their methods when they realize that their current approach is not yielding the desired results.
Q & A
What are the main reasons people succeed in sponsorship according to the video?
-The video outlines seven main reasons for success in sponsorship: having clearly defined goals, doing thorough research, avoiding common traps, maintaining a list of relevant contacts, respecting a 'no thank you', pursuing sponsors of all sizes, and learning from failure.
Why is having a clearly defined goal important in sponsorship success?
-A clearly defined goal is important because it provides a measurable target, helping to track progress and determine if one is on track towards success in sponsorship.
What kind of research should one do to be successful in sponsorship?
-One should research their audience, activation ideas, and prospects. Regular polling can also be used to understand if the sponsorship opportunities resonate with the audience.
What are common traps to avoid in the sponsorship process?
-Common traps include relying on generic gold, silver, bronze package structures, and indiscriminately emailing strangers with sponsorship proposals.
Why is it important to have a list of contacts that are genuinely interested in the sponsorship opportunity?
-Having a list of contacts genuinely interested in the sponsorship opportunity ensures that outreach is targeted and more likely to result in successful partnerships.
How should one respond when a potential sponsor declines interest?
-When a potential sponsor declines, one should respect their decision, express appreciation for their response, and possibly ask for referrals or feedback.
Why is it beneficial to pursue sponsors of all sizes?
-Pursuing sponsors of all sizes diversifies the sponsorship base, reduces risk, and allows for a healthy ecosystem with multi-year agreements and varying lengths.
What does the video suggest about the approach to learning from failure in sponsorship?
-The video suggests that instead of repeating unsuccessful strategies, one should try, test, and adapt different approaches when faced with failure in sponsorship.
How does the video define success in sponsorship?
-The video defines success in sponsorship by the amount of sponsorship revenue brought in, rather than just the number of proposals sent out.
What is the role of respect and reputation in the sponsorship process as discussed in the video?
-Respect and reputation play a crucial role in building long-term relationships and gaining referrals, which are key to successful sponsorship.
Outlines
🎯 Keys to Success in Sponsorship
This paragraph discusses the primary reasons individuals achieve success in securing sponsorships, emphasizing that luck is not a factor. The speaker introduces seven key reasons for success and encourages viewers to subscribe and engage with the content. The first reason highlighted is the importance of setting clear, measurable goals. The necessity of knowing specific financial targets, the number of sponsors required, and the volume of proposals and communications needed is underscored. The paragraph also stresses the significance of conducting thorough research on the audience, activation ideas, and potential sponsors to ensure that sponsorship opportunities are relevant and appealing.
🚫 Avoiding Common Pitfalls in Sponsorship
The second paragraph delves into common mistakes to avoid in the sponsorship process. It advises against relying on generic sponsorship packages and mass emailing strangers, which are ineffective strategies. Instead, successful sponsorship seekers maintain a curated list of contacts who are genuinely interested in the audience and sponsorship opportunities. The paragraph also touches on the importance of respecting a 'no' from potential sponsors and using it as an opportunity for referrals or feedback. It advocates for pursuing a diverse range of sponsors, not just focusing on large deals, and emphasizes the importance of learning from failures by adapting strategies rather than repeating unsuccessful approaches.
Mindmap
Keywords
💡Sponsorship
💡Clearly defined goals
💡Research
💡Common traps
💡Contacts
💡Respecting a 'no thank you'
💡Pursue sponsors of all sizes
💡Learning from failure
💡Proposals
💡Conversion rate
Highlights
Seven reasons for success in sponsorship are discussed.
Success in sponsorship is not about luck.
Clearly defined goals are essential for success.
Measurable goals lead to better tracking of progress.
Research is fundamental to successful sponsorship.
Avoiding common traps like generic sponsorship packages.
Successful sponsorship seekers have a targeted list of contacts.
Respecting a 'no' leads to better networking opportunities.
Pursuing sponsors of all sizes diversifies risk.
Learning from failure is crucial for improvement.
Testing and adapting strategies is more effective than repeating the same unsuccessful actions.
The importance of having a sales pipeline and ladder setup.
The role of respect in building a positive reputation.
How to handle rejection professionally in sponsorship seeking.
The benefits of having multi-year agreements with varying lengths.
The significance of moving small sponsors up to bigger ones.
The fallacy of sending more proposals without improving the approach.
The importance of doing something different when the current strategy fails.
Transcripts
hey there in this video I want to talk
to you about the main reasons people
succeed in sponsorship and how you can
too and here's a hint none of it has
anything to do with luck check it
[Music]
out let's talk about the seven reasons
people succeed in sponsorship and if
you're new to the channel make sure you
hit the Subscribe button click the Bell
icon so that you never miss an up update
and if you are a follower of the channel
and you want me to keep making videos
like this every week go ahead and click
the Thumbs Up Button reason number one
that people are successful in
sponsorship is that they have clearly
defined goals as much money as humanly
possible is not a clearly defined goal
why do you need a clearly defined goal
in order to be successful it's really
simple what gets measured gets done and
if you don't know what you're trying to
achieve then you have no idea if you are
on track and if you don't know if you're
on track you aren't so make sure you
know exactly how much money you want and
need know exactly how many sponsors that
will require know how many proposals
you're going to have to submit how many
Discovery calls you're going to have to
have how many prospects you're going to
need in your pipeline and how many
emails and phone calls you're going to
have to send out into the
world successful people in sponsorship
do their
research they research Their audience
they research their activation ideas
they do regular polling to understand
whether or not their sponsorship
opportunities make sense to Their
audience they research their prospects
based on a connection to audience and
brand interests research research
research is the Hallmark of a good
sponsorship
Seeker they avoid common traps meaning
they don't fall for things like thinking
a gold silver bronze package is going to
work or that if they just eblast
thousands of total strangers their
sponsorship package that they're going
to close Deals they avoid common traps
thinking that sponsorship proposals make
the sale these common traps are to be
avoided if you want to be successful
assuming of course that you measure
success by how much sponsorship Revenue
you bring in if you measure success by
how many proposals you send out to
people that get thrown directly into the
garbage then gold silver bronze e
blasting strangers is exactly the right
path the best sponsorship Seekers and
those who are successful have a list of
contacts now I know what you're thinking
I have a list of contacts I downloaded
every company on the internet and I'm
just going to send them a sponsorship
proposal that's not what the most
successful people do the most successful
people have a list of contacts that have
a reason to be interested in the
audience of the sponsor sponsorship
seeker and that list of contacts isn't
just a bunch of forms that they fill out
online and it's not just a bunch of
hello at or contact us at email
addresses they are actual people with
actual email addresses and phone numbers
in companies that genuinely want to hear
from the sponsorship Seeker because
they're actively selling products to the
audience this is a very different
approach to what most people do with the
Casta wide net
lack of strategy and that's why it
works the very best sponsorship Seekers
respect a no thank you instead of
constantly following up and sending
email after email after email when
someone says I'm not interested they
simply say no problem at all I
appreciate you letting me know and hey
while I have you is there anyone in your
network who you think would be
interested in this op audience the way
that you treat people matters and that's
how you build a reputation so when
people tell you no thank you if you
treat them with respect they will have
no problem referring you to somebody in
their Network or perhaps giving you some
feedback as to why they weren't
interested and the very best sponsorship
Seekers pursue sponsors of all sizes not
just looking for that one sponsor who's
going to sign a hundred-year deal at10
billion do a year these sponsors are
very rare if they exist at all and
they're really hard to find it's also
incredibly risky to just have one big
sponsor I can't tell you how many times
a new client comes to us saying we lost
our one sponsor and we're going to go
bankrupt what should we do what you
should do is go back in time and get
many many many sponsors at all sorts of
financial levels with multi-year
agreements of varying lengths and you
should also have a pipe P line and a
ladder setup to move small sponsors up
to Big sponsors so that whenever you
lose a big sponsor you can back fill
them with your sales
pipeline sponsors of all sizes is a
healthy thing it's the right ecosystem
in mix for Your sponsorship opportunity
and I would argue the most important
thing is that the successful sponsorship
Seekers learn from failure and what I
mean by that is this what most people do
is send a sponsorship proposal to a 100
people and hear nothing back and draw
the illogical conclusion that what they
need to do is send out even more
sponsorship proposals this of course
doesn't make any sense a 0% conversion
rate at scale is still a 0% conversion
rate it's sort of like hitting yourself
in the thumb with a hammer in drawing
the conclusion that the solution is to
just hit your thumb even harder and more
often of course this is a Preposterous
ideaa yet people do this in sponsorship
all the time the very best sponsorship
Seekers try something test something see
it doesn't work and then they do
something different doing the very same
thing over and over and over again will
only produce the same results and if you
don't have the results you want it's
because the inputs the activities you're
engaging in are not working I would love
it if you could drop down below in the
comments your biggest takeaway from this
video the one thing you're going to
implement immediately the one thing
you're going to change and remember the
sponsorship proposal does not make the
sale you do good luck out
[Music]
there
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