Since forming a partnership with Highlight Sports about a year and a half ago, I’ve learned many important things about Sponsorship and Advertising Sales. Here are a few ideas:
- Instead of talking about price, talk about “return on investment” or what they want out of the sponsorship (some may not care as much about ROI – they just want to show their support and brand their company name)
- When the question is asked about cost over the phone, set up an appointment to meet in person if possible
- Ask questions about what the company does for marketing
- Take notes
- Pick their brain about how what we are doing could benefit them, if not now, later
- Tie their needs back in to the presentation
- KISS: keep it simple stupid
- Listen for buying clues
- Don’t burn bridges: what may not work now could always work later if you leave a good impression.
Additional Notes I took on my learning curve:
- Mention competitors as options for sponsorship
- Use phrase like “We are considering your company as a potential sponsor…”
- Generally better to start a little high with numbers: you can always negotiate down, but not up
- Be willing to negotiate price and tools provided
- If they are hesitant with the pricing, ask something like: “Is there some things I could rearrange to make that package a better fit for you?”
- Show clients past work we’ve done
There are many different approaches that can be taken; these are some of the things that have worked for me. More to come….
What have you all learned?
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As usual you make good points. I especially liked the “We are considering your company as a potential sponsor” line!! Thanks Nate
Great tips. I especially like the “Don’t burn bridges.” I have known people for years and years before ever having worked with them. Keep your reputation strong!
Hi Nate,
This, too, is an area that I am just beginning to learn about. I know that these tips will be extremely useful when I take this step. Thanks!
Nate,
One thing I don’t see in your blog here is a topic on link exchage.
I found it to be really effective. It would be nice to find link exchange partners through your blog.
Interesting concept to consider. I have to think about how it would fit with what I am trying to accomplish.
Nate,
I’m not sure what your goal or objective is in this sponsorship interview. I assume that it has something to do with monetizing your site, but…
Jan
Hi Nate,
I, too, am a little confused about the sponsorship aspect…are we asking for the sponsor to pay for a marketing campaign that we design for them and piggy-back a list off of?
There are a variety of ways we can monetize a sponsorship. Using their list, using your connections, marketing campaigns, search engine links, etc.
Let me know a bit more about what you don’t understand.