The Five Stages of Sponsorship Sales
Five stages of sponsorship? But isn’t sponsorship about setting a budget goal, creating a package with three levels (Gold, Silver, Bronze) and then dividing that budget goal across those three levels and e-blasting your stock proposal to every company you can think of?
Yes! At least that’s the common practice, anyway. I have spent a lot of time selling sponsorships, reviewing sponsorship proposals on behalf of brands and talking to prospects about their sponsorship goals. Based on this experience I can say with 100% confidence that the above mentioned approach is the least efficient way to sell sponsorship.
What is the best way? Well, truth be told (no matter what anybody tells you) there is no “best” way. That said, I have observed certain stages of the sponsorship sales process that, when followed, bring in more sponsorship dollars, build better relationships with prospects and simplify the sponsorship sales process.
So, what are the Five Stages?
- Inventory Building & Valuation
- Getting The Meeting (And, What To Do Once You Have It)
- The Sponsorship Proposal
- Activation, Fulfillment & Renewal
Read the full article here.
Want to learn more? Check out Chris Baylis, President and CEO of The Sponsorship Collective in our Sponsorship Workshop at the Engaging Associations Forum, July 17-29, 2019 at the Brookstreet Hotel in Ottawa.