How to Succeed in Sponsorship

Summary

This 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.