Guest post by Shannon Cherry
You know about JV (joint venture) partnerships. And I am sure you know about affiliate partnerships. But there’s one partnership you may be forgetting – and it’s costing you thousands of dollars.
It’s Sponsorship Partnerships.
Most people think sponsorships are for nonprofits or ‘big name’ sports stars.
But this is simply not true! Sponsors are looking for people to partner with at all levels to help promote their products and brands. Why? Companies know that sponsorships allow them to reach a particular target market in a way that advertising cannot… through someone they know like and trust – YOU!
And sponsorships can really benefit you, too.
Sponsorships can pay the bills and give you money to spare! And they can boost your image as well as your bottom line. Sponsorships are a great publicity and promotion technique for your business. They can increase your credibility and visibility, while building customer confidence AND help you find even more people and companies to partner with.
Every year, corporations spend millions of dollars on sponsorship marketing and event sponsorships. Unfortunately, many don’t have a clue about how to approach a potential sponsor, prepare the information needed, and persuade a sponsor to join them in a mutually beneficial project.
So how can you create sponsorship partnerships?
You need to realize that sponsorship is a business deal like any other partnership, not a donation or hand-out.
Sponsorships won’t work if you are just saying, “Gimme” like one of my 7-year old twins. (At least they say please and thank you now!) You need to find sponsors who will make a good partnership because the sponsorship will provide something of value for both you and the company.
You also need to know that you need to be offering a good marketing investment to the corporate sponsor. Sponsors want to exploit the commercial opportunities associated with an event or organization.
It is as simple as that, but perhaps the hardest to grasp: the key to creating a sponsorship partnership is just like any other partnership. You need to show the true value in the partnership in order to be successful.
About the author:
Shannon Cherry, a business and marketing pro with more than two decades of experience, helps you to make more money in your business without adding more time.
She founded her business, ShannonCherry.com, in 2002 to help helped experienced and ambitious entrepreneurs grow the business they desire– without compromising on their principles. Her focus is to provide laser-targeted solutions to get fast results, including Sponsorship Made Simple program, which helps coaches and consultants get sponsors.
Shannon’s business has been debt-free since its inception and she consistently works only 20 hours per week to spend more time with her family in the capital of New York.
