Sponsorship Funnel
The expression “sponsorship pipe” alludes to the interaction through which organisations or people recognize, draw in, and connect with likely supporters for an occasion, venture, or association. Like a deals pipe, which frames the phases of a client’s excursion from attention to buy, a sponsorship channel frames the phases of getting sponsorship support.
Here are the typical stages of a sponsorship funnel:
Identification and Research:
Objective: Identify potential sponsors based on their alignment with the event, project, or organisation.
Activities: Research companies or individuals that have a history of supporting similar initiatives, have a target audience matching the event’s demographics, or have expressed interest in the industry.
Contact and Outreach:
Objective: Reach out to potential sponsors to introduce the opportunity and gauge their interest.
Activities: Draft personalised sponsorship proposals, emails, or letters. Establish initial contact to provide information about the event and its benefits for sponsors.
Qualification and Interest Confirmation:
Objective: Determine the level of interest and fit of potential sponsors.
Activities: Conduct meetings, presentations, or discussions to elaborate on the sponsorship benefits and answer any questions. Assess the potential sponsor’s alignment with the goals and values of the event.
Negotiation and Customization:
Objective: Tailor sponsorship packages to meet the specific needs and objectives of potential sponsors.
Activities: Discuss and negotiate terms, benefits, and financial commitments. Customise sponsorship packages to align with the sponsor’s marketing goals and target audience.
Proposal Acceptance and Agreement:
Objective: Secure a commitment from the sponsor to support the event.
Activities: Finalise and sign the sponsorship agreement. Ensure that both parties understand and agree upon the terms, including deliverables, timelines, and financial commitments.
Activation and Implementation:
Objective: Activate and implement the agreed-upon sponsorship benefits.
Activities: Execute the marketing and promotional elements outlined in the agreement. Ensure that the sponsor receives the agreed-upon visibility, recognition, and promotional opportunities.
Post-Event Evaluation:
Objective: Assess the success of the sponsorship and gather feedback.
Activities: Analyse the impact of the sponsorship on both the event and the sponsor’s goals. Seek feedback from the sponsor and use insights to improve future sponsorship opportunities.
Renewal or Relationship Building:
Objective: Build long-term relationships with sponsors and explore opportunities for renewal.
Activities: Assess the sponsor’s satisfaction and interest in future collaborations. Explore ways to enhance the partnership and discuss potential long-term commitments.
By following a structured sponsorship funnel, organisations can maximise their chances of securing meaningful partnerships and creating mutually beneficial relationships with sponsors.
