Successfully Sourcing Sponsorship-Based Partnerships
When it comes to community business partnerships, sponsorship arrangements have become a popular and adaptable way to foster a good "give and take" relationship.
Some of the basic principles of sponsorship-based community business partnerships are outlined in the Help Sheet "Sponsorship – not Charity, not a Donation", available at the Community Business Partnerships Brokerage Service section of the Our Community website.
This Help Sheet is designed to give prospective community business partnership participants who are considering a sponsorship-based arrangement some tips on not only finding the right sponsorship arrangement, but negotiating a mutually beneficial sponsorship agreement.
Making sure a Sponsorship is Right for YouThe first thing to remember is that sponsorship may not be the best community business partnership option for your group or business – or may even not be a suitable option at all.
A vital first step in considering a sponsorship arrangement is to make sure it reflects a proper "give and take" relationship.
The Help Sheets Finding the Best Partner and Partnership Model for your Community Group – Parts 1 and 2 and Finding the Best Partner and Partnership Model for your Business - Parts 1 and 2 – both available at the partnerships Brokerage Service section of the Our Community website – can help you work out if sponsorship is a form of partnership suitable for your organisation or company.
But as a basic guide, you should ask yourself:
For more guidance on this, refer to the Help Sheet Sponsorship - Not Charity, Not a Donation.
Sourcing a SponsorshipOnce your business or community group has considered these questions and referred to the Help Sheets listed above, you should have gone a long way towards discovering what sort of business or community group is right for you to partner, and whether a sponsorship arrangement is the sort of partnership you are after.
If the answer to the latter question is yes, then the next step is to find an appropriate partner to enter a sponsorship arrangement with.
But before you start looking around for that sponsor, you should ask yourself some further questions:
This should help you narrow down the type of business or community group that you believe is ideal to approach for a partnership.
Depending on the type of business or community group that you favour, there may be a number of them that seem suitable for a partnership.
If that is the case, examine each of the options and narrow them down to your most preferred prospective partner. That may involve looking at whether:
A bit of research on the group or business you are looking at is a good idea as well – visit their office or website, read any brochures of theirs and keep an eye out for any media publicity they may receive.
Finally, once you have gotten to the stage of finalising a prospective partner to approach, consider these points.
If after this sort of consideration you are confident that your plans stack up well, it is time to approach the community group or business for a sponsorship-based partnership.
Approaching a Prospective Sponsorship PartnerIn approaching a prospective community business partner for a sponsorship arrangement, you will follow many of the same steps you would if approaching a business or community group for any type of partnership.
The Help Sheets Approaching a Business and Approaching a Community Group are both available at thepartnerships Brokerage Service section of the Our Community website and contain all the information you need to prepare a professional and thoughtful approach to a prospective partner.
Among the key points to remember when compiling your approach are:
Following UpOnce you have put together your approach and delivered it – either in writing, verbally, or through a combination of both - it is important that you follow it up.
Again, make sure that you include your phone number with your approach and encourage your prospective partner to contact you. When they do, set up a meeting with them.
If they don't, contact them again to ensure they have the information, and leave your contact details with them. Don't make a pest of yourself in following up your approach too quickly, but don't leave it too long either – a week or so is about right.