SPECIAL REPORT

6 Tips for Sponsorship Selling in Turbulent Times

by Gail S. Bower

Unless you've been living in a cave recently, you know that following the global economy has been like strapping yourself into the car of a rollercoaster. The difference is that on a rollercoaster ride, you don't have the media and political candidates frightening you through every dip and curve about how scary the ride is.

In the midst of all this turbulence, you need to maintain perspective, a sense of optimism about the future, and a commitment to your purpose. Your constituents need you, and so do your sponsors.

That's right. Corporate sponsors need you. That is, if you have something of value for them to buy.

Corporate sponsorship is a marketing vehicle, and despite the economy, businesses still need to promote their products and services because people still need to make purchases. I'm not saying that selling sponsorships will be easy. However, business is still being conducted in this country and abroad, and properties and causes are still closing deals. To make those sales, be sure that what you have to offer and how you are offering it stand out from the competition.

Six tips to see you through turbulent times:

1. Offer value. If you're offering the standard Gold/Silver/Bronze sponsorship proposal, you're not offering value. If you're accepting a corporation's check and simply slapping a logo on an invitation or a poster, that's not value. If you're not having a conversation with your sponsor about its business or marketing goals, you're probably not thinking about value.

Value is the co-created opportunity developed with a partner that furthers your mission and the sponsor's goals. There is qualitative and/or quantitative ROI. Something experiential happens. And the opportunity is so compelling that, as I heard someone say recently, if the sponsor did not renew the next year, your audience would notice.

2. Be a true partner. Partnerships are based on trust, and nothing fosters trust more than truly caring about the other's needs and best interests. Partners don't just mail proposals without having had a conversation or the opportunity to develop a relationship. Partners do go to extra lengths to find opportunities to enhance a sponsorship, to understand what their sponsors struggle with, and to proactively offer ideas to address those challenges.

How are you supporting your clients' business goals? Are you reading the news of their industries? Discussing the realities of the economic climate with them? Brainstorming ways to increase traffic to their retail locations or Web sites, for example? Suggesting ideas to better connect your audiences and your sponsors? You're not their marketing firm, but suggesting options that serve both your and your sponsor's purposes deepens your partnership and benefits both parties.

3. Explore alternate markets. Your sponsors may be representatives of industries that are really struggling right now. That doesn't mean, however, that all industries are struggling, or that every company within a sector is closing its doors. Have you considered other industry sectors that might benefit from your event or program sponsorship? Are you considering a wider range of businesses, especially those that are a match for you that tend to be recession-proof?

4. Don't whine. Don't procrastinate. Selling sponsorships can be challenging. Selling anything can be challenging. It's so easy to procrastinate - to avoid making calls, to make excuses, to want to just give up. Find a way out of your malaise. Your organization or event serves an important purpose, and people are counting on you.

Be creative. Figure out how you're going to meet that decision maker. Who can introduce you? How can you meet this person at a conference networking event? What will you say to him or her when you do meet? How will you offer value immediately? Why should they pay attention to you?

If you've had conversations with more than 10 real live decisions makers from the same industry, and they are all giving you the same feedback, pay attention to it. What do you need to learn? Is your opportunity valuable? Are you not communicating the value well enough? Are you giving up too early? Are you asking the right questions? Are you sharing results about your opportunity? Are you educated enough about the industry?

5. Create the conditions for success. Is your organization truly supportive of corporate sponsorship, or has the board approved moving forward with it conceptually but put up roadblocks to the plan in action? If your job is to secure sponsors, and your organization's culture has boxed you in to a no-win situation - not enabling the fulfillment of sponsorship benefits, scoffing at ideas out loud, or otherwise creating impossible hurdles - you've got a problem.

If your organization or event allows corporate sponsorship, it has to make the commitment for sponsorship to thrive. And that does not mean that sponsors run amok and your organization sells out. To the contrary, you create parameters and policies that work, and your board and executive staff must support the program.

It also means that you, as the sponsorship seller, must be knowledgeable and must work to educate yourself on sponsorship, on what's going on in the business world, and on other facets of your role. Take the time to improve your selling skills; learn more about marketing; get out in the field more to understand who your audiences are and who the audiences of your sponsors are. You will then become invaluable to your organization and your sponsors.

6. Being flexible is OK; giving away the shop is not. Your sponsors may come to you and tell you that their budgets have been slashed, and they have to cut back their sponsorship spending. How will you respond?

The first thing you need to do is to protect the value of your sponsorship program. Now is not the time to give your sponsor all the value they've been used to with pricing rollbacks a la Wal-Mart.

Then, work with your sponsor to create a way for you to maintain the relationship, while also creating an opportunity that works for them and that protects the value for your other clients. How can you modify the program to increase the sponsor's return on investment-a measure they most likely must demonstrate internally? Offering a multi-year deal might help them lock in a program in which you and your client can adjust the payment terms in a mutually beneficial way.

If you must reduce fees, then decide with your client what commensurate value gets reduced. It is during moments like these, when delicate negotiations and discussions arise, that you understand more clearly the value of trusting, solid relationships with sponsors.

Despite the headlines, the economy has not ground to a halt. Yes, there is a great deal of uncertainty at the moment. I'm willing to bet, though, that successful business leaders are committed to taking stock of the current situation, learning the lessons, making adjustments, remaining nimble, and moving forward toward a brighter future. Those who champion causes or events, boldly make the case for their sponsorship value, deliver that value, and work side-by-side with their clients to get results are those who will succeed in sponsorship selling. Will that be you?

Special Reports for Turbulent Times