As you’re plotting out how the rest of 2019 or fiscal year 2020 will be a fantastic year, don’t forget to take a look at your sponsorship-selling habits.
It’s easy to get into a grind. Every once in a while, we have to examine our practices, clear out the barnacles, and evolve.
Here are 10 areas that you may put under the microscope to explore whether there is a better way of doing things.
Highlight the ones that resonate for you and brainstorm what you’ll do differently going forward.
- Focus on the best relationships. You don’t need hundreds of sponsors. Too many sponsors will only dilute your sponsorship value. Instead, you need great partnerships.
- Eliminate online applications. Corporations that won’t talk until you “apply” online are not very serious about relationship building and, therefore, not worth the bother. Move on.
- Create value, not generic levels. Your sponsors are your partners. Co-create innovative, meaningful opportunities. Make 2019 the year you let go of worthless levels.
- Strengthen your systems. Systems build efficiencies, which increase productivity and decrease labor burned on rote activities. Enhance your profitability by streamlining.
- Update your policies and parameters. Take a fresh look at the constraints around your sponsorship program and make sure they reflect who you are today.
- Expand your value. Sponsorship is a renewable resource. As you expand your events, marketing strategies, and other programs, extend that expansion to your sponsorship value, too.
- Streamline your sales process. Do you know where you’re going in your sales process? (Do you even have a sales process?) How can you create efficiencies to speed up your sales cycles?
- Thoughtfully plan your client relationships. Not all sponsors are created equally. Now is a good time to review your current sponsor and prospective list and plan your next steps with each. Some should grow, others should go, and some may be just right. Do you know which is which?
- Increase your fees. When is the last time you visited your fee structure?
- Stop wasting time. Make your calls. Do your research. Build relationships. Send out proposals. Don’t procrastinate.
What other performance-boosters are in store for you?