As a small business owner, how can you use this sponsorship for your events and projects while making money? Continue reading to learn how to break into the Sponsorship market.

Most of these large and medium-sized organizations are interested in sponsoring your events or projects because they want to raise their public profile cost-effectively. Not only do large corporations wield power in this arena, but medium-sized businesses are also jumping on the sponsorship bandwagon. They are leveraging sponsoring everything from local or community sports to health shows, enlightenment campaigns, and cultural festivals, to name a few.

In reality, no event or project is too small to be sponsored. However, the events or tasks that frequently attract sponsorship add value to the community while indirectly increasing the brand image and profits of the organization’s products and services. Support can be obtained for events or projects focusing on health, education, charity, entertainment, art, empowerment, children, and gender issues.

It is also worth noting that events such as Gulder Ultimate Search, Star Quest, Lagos Half Marathon, and Argungu Fishing Festival, among others, have been fortunate enough to attract annual sponsorships.

What are the different types of sponsorships available to me?

There are two types of sponsorships available to you:

Product sponsorship is something that many small and large corporations are comfortable with. They provide you with their company’s products to endorse your event or project. Nestle Foods, Nigerian Bottling Company, UAC, MTN, Zain, Etisalat, Globacom, and others are examples of these companies. There are also small organizations in your area that you can approach with confidence for this type of sponsorship, as well as sole entrepreneurs with product offerings who need your events to promote them.
Financial sponsorship: Companies will set aside funds for your event or project as long as it positively impacts the community. The amount requested should be pretty specific, and you should clearly state each step of your analysis of how the funds will be used. British Council, Nokia, UAC, Chevron, Texaco, Mobil, British Tobacco Nigeria Ltd, Guinness, Nigerian Breweries, Nestle, Wampco, Ford Foundation, Unilever, GTBank, Ecobank, and others are examples of funding companies. Numerous small and medium-sized businesses are also waiting to be approached with your sponsorship proposals.
Is it possible for me to land a sponsorship deal?

The harsh reality is that a sponsorship deal is nearly impossible for an individual. Companies are more at ease dealing with sponsorship proposals from an organization, whether governmental or non-governmental. So, when submitting a sponsorship proposal, ensure it includes the name of an organization, whether registered or not, including religious groups, clubs, NGOs, educational institutions, privately registered businesses, etc. Now we move on to the next section, which discusses obtaining that coveted sponsorship.

So, how do I get that coveted Sponsorship?

Your Proposal is all you need to ensure that your sponsorship sails through. I recommend submitting your proposal at the start of each quarter because that is when most businesses review their financial books. Unless the company says they will reply, you must follow up on your proposal. However, one tip is cultivating a platonic relationship with the officer-in-charge outside the office zone.

The first step is to write a brief but informative proposal to the organization of your choice. What is critical is that your submission shows how your event or project will advance their brand and improve the company’s image. But how do you craft an effective sponsorship proposal?

It would be best if you now accepted that your proposal must compete for attention with the slews of other bids these companies receive daily. You must be concise in your writing, keep it to at least a page or two, and keep it simple. Take note of the following suggestions to help you write a winning proposal.

The subject of your proposal content is the subject of your headline. Create a headline that is both direct and sellable. If you don’t know how to write one, hire an excellent copywriter to do it for you.
The Project/Event – This should come first in your proposal. Be specific in explaining what your event entails, and avoid providing details that would interfere with clearly stating the purpose of your project or event.
The Public Audience – Explain clearly who your project will be aimed at.
Type of Sponsorship Required – Specify whether you require the product or financial sponsorship.

Sponsorship advantage – Explain in your proposal how the sponsors will benefit because they will only put their money where their mouth is.
Introduce your outfit – after you’ve finished the above, formally describe your business and why you’re taking on the project.
Proposed event date – Indicate when the event or project is scheduled for sponsorship consideration. If you do not do this, you may be taken for a ride, which means they will take their time.
Lastly, please attach your cover letter, which must be signed by whoever receives it from you.

So, how do I profit from these sponsorship deals?

There are two ways to hit the gold pot: First, after completing the event/project, you are not required to refund any leftover funds. It’s entirely yours. Second, you earn extra money through gate-takings, in which you promote your event by leveraging the popularity of a well-known brand as your primary sponsor. You can make this a 50/50 deal with the sponsor, but in some cases, the sponsor is uninterested in this part.

Before submitting your proposal, research the company of your choice and find out who is in charge of sponsorship issues.

Prepare for the Presentation

If your proposal is accepted, don’t be caught off guard when presenting your event/project. Prepare ahead of time and double-check your facts.

As I previously advised, properly obtain the phone number of the officer-in-charge (if possible) to follow up during and after official hours.

You are the only thing that can stop you. So go ahead and secure that sponsorship for your events or projects.

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