Securing a win-win agreement with the right business partner
by Pat Kahnert
November 30, 2000; Canadian FundRaiser
There are three key periods in designing effective sponsorship relationships
that last well beyond the initial cheque presentation. These stages of development
are captured in the acronym AIM: reaching Agreement, Implementation
of the program, and Measurement of progress and results. Here's
a checklist for event organizers covering proven activities that will help
secure a win-win agreement with the right business sponsor.
I know how to help sponsors connect with community through our event
Most corporations and an increasing number of medium-sized businesses have
articulated a corporate citizenship program. Don't forget, however, to take
your perspective on what elements go into making a strong community that appreciates
the contributions of business people. That connection with community will
prove value-adding to most business sponsors, many of them wrestling with
what role they should assume to secure top community relations marks.
I focus on desired outcomes and event audience needs and benefits
Articulate upfront what objectives you will achieve and how you will delight
your event audience. The more specific and the more measurable, the better!
This is where prospective sponsors will link their business development and
promotional goals.
I ask key influencers to help me reach the right business contacts
A thoughtful and targeted approach to sponsorship sales will go much further
than scattered, wishful-thinking tactics. Put another way, a referral to the
right person will turn an otherwise cold call into a warm call immediately.
Once you are in the door, however, it is up to you to build trust and confidence
one-to-one with your prospective sponsor.
I have done extensive research to determine preferences of sponsors
There is nothing more assuring to a corporate sponsorship decision-maker than
to receive a proposal that shows thorough and thoughtful research of what
matters most to the company and its stakeholders.
I have a personal contact plan in place for getting to know a prospect
Building a relationship takes time and it takes a continuous demonstration
that you really do want a targeted group to participate in your event. Make
a plan and keep in touch.
I will focus first on friend raising and then embark on fund raising
It is tempting to go for the money right off the bat, but that approach is
sure to alienate a prospective sponsor. High profile prospective sponsors
receive so many requests for money that a patient approach will stand out
as special. Treat your prospect as someone with whom you would like to establish
a friendship - which takes much more than one presentation and a letter of
request!
I have allowed ample time for establishing a strong strategic fit with
a sponsor
Many sponsorship agreements are doomed from the start because sponsorship
people have not made a clear connection of the relationship with the sponsor's
strategic business priorities. Don't go looking for a sponsor at the last
minute, because it will not allow enough time for this key area of consideration.
I understand my prospect's business goals and primary audiences
To help a sponsor derive optimal value from a relationship with your group,
be sensitive to their specific goals and key messages to their stakeholders.
Convince your sponsor that it is important that they share their sponsorship
evaluation criteria right at the outset of your relationship. Otherwise, how
will you know what delights them during implementation and measurement?
All sponsorship partners are clear about objectives, roles and expectations
Reaching understanding of what matters most to all partners in the agreement
is a huge step toward gaining commitment and gratitude from a sponsor. You
can't just mail objectives, roles and expectations to a sponsor. You need
to discuss what matters most to everyone. As in any meaningful, ongoing friendship,
open dialogue will nourish the relationship, in good times and in not such
good times.
The contract has been signed with plenty of time to deliver on all promises
made
Ultimately, the ability to deliver on your promises is all about time: time
to plan, to design, to do the right things, and to measure the impact of those
activities.
For a copy of the PBK Event Organizer's Taking A.I.M. Checklist, or further
information about the PBK Sponsorship Confidence Survey, contact Pat Kahnert,
president and managing partner of PBK + Associates, based in Oakville, Ontario,
at 905/337-7933, or email pbk@cogeco.ca.
PBK provides corporate marketing and public relations services specializing
in building community partnership programs that help business, government
and voluntary sector customers build stronger relations with their key stakeholders.
