Sponsorship negotiation best practices
- Make a timeline and follow it so you can meet submission deadlines.
- Make a script before calling or presenting your project, rehearse the script and make sure you are on top of everything before proceeding. Be prepared to answer questions about your project.
- You should personally contact the sponsorship representative before sending your proposal. Be sure get their permission, as you want to avoid sending unsolicited mail/emails.
- Overnight proposals to prospects after your initial phone conversation.
- Try to schedule a meeting or make a follow-up call when they have had a week or two to review it.
- Continue to make calls and follow up until you get a clear answer, that way you can precede down the list.
- Get to know the contacts and nurture this relationship now and in the future.
- Remember to ask them to get involved, you won’t make the sell until you ask.
- Always sign a sponsorship agreement with the sponsors and outline everything clearly to avoid any confusion.
- Provide sponsors with a detailed report following your event. Include copies of marketing material, media coverage, professional photographs showcasing their involvement.
- In the post-event report we recommend that you list the valuation of your different segments.