Maintaining a great relationship with your sponsors is absolutely crucial for your business to thrive and be successful. Don’t assume the work is done once you secure a new sponsor. The real work begins once you secure a sponsor.
In addition to providing everything you have promised in the sponsorship agreement, make sure to:
- Upon receiving funds from a sponsor immediately send your sponsor a letter thanking them for their involvement
- Follow up with your sponsors and update them on media coverage, ticket sales/attendance
- Provide sponsors with marketing material such as posters, programs, web banners, etc. They can display them to show their connection with the project
- Invite the sponsors and their colleagues to the event/project and be a generous host
- Notify them of upcoming events and potential future sponsorship opportunities
- Provide a bit more than what you have agreed to in terms of exposure. Add some bonuses and your relationship will blossom
- Announce your sponsors to the media at every opportunity
- When making speeches or presentation remember to thank your sponsors