There are many possible ways to increase your sponsorship revenues, but this answer will confine itself to the simplest, most likely-to-be-successful answer. That answer is this: ask for even more from your current sponsors. That might sound counterintuitive. You might think they are at their limits. Or you might fear that you’ll burn them out by asking too much. Both are valid concerns. However, the rationale for asking even more from your current sponsors tends to be very strong:
– First, the current sponsors already believe in your organization and are seeing (or at least anticipating) some payout. The hardest work is already done – you don’t have to explain who you are and why a sponsorship at any level makes sense.
– Second, the current sponsors may in fact wish they could find more ways to spend money on your organization. The problem may be that they just don’t see any additional worthy opportunities based on your current offerings. If that is the case, you’ll have to create more opportunities. Or simply talk to the sponsors – they may already have something in mind.
– Third, one or more of your sponsors may wish to completely dominate your market. If that is the case, they may be willing to spend far more than you might image. Again, talking to them about their goals for your target audience may reveal mutual opportunities that a simple sponsorship may not fully tap.
If you’ve made a strong, creative, personal effort with your current sponsors, then move on to new sponsors. But the adage of “a bird in the hand is worth two in the bush” tends to apply very well in this case.
What has your experience been with regard to sponsors?
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