Sponsorships Vs Partnerships

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Everyone is so focused on Sponsorship these days. In the past Sponsorship has been generally about sponsoring special events. It was quite possible for an organization to ask corporate sponsors for money several times during a one year period, therefore lowering their chances of getting the funds they needed. Most organizations were only focused on getting sponsors for special events and for other funding they depended upon donations, grants, etc. Times are changing and 2008 will mark a huge change in how Sponsorships are solicited and given.

Corporations are now gearing towards long term partnerships rather than sponsoring one time special events. The Sponsorship Industry is a Multi Billion Dollar Industry (11.7 Billion in the USA in 2007 and Billions more through out the world). More and more corporations are looking for strategic long term partnerships where they can get the best return on investment. Your organization should be looking to build partnerships as well. Your sponsorship package should have a variety of ways for corporate sponsors to get involved with your organization. It makes more sense to secure a partnership for the long term (1 year or more) rather than to keep approaching the corporate sponsor several times through out the year for special events sponsorships only.

The impact of a partnership is that you can get sponsorship for not only your special events, but also your programs, advertising, etc. This goes for non profits, associations, etc. In your sponsorship proposal make it a one stop shop for corporate sponsors. In each level of sponsorship be sure to display every possible available benefit that they will receive for partnering with your organization. Obviously the lower level the sponsorship, the less benefits a sponsor will receive. Remember for the sponsor, the partnership is about strategic planning getting the maximum return on investment and reaching and impacting many. Focusing on partnerships instead of one time sponsorships is easier and more productive for your organization and more importantly for corporate sponsors.

The end result being that Partnerships have surpassed the need for Sponsorships in the long term. Everyone wants a win win situation with a maximum benefit. I hope that you have a clear understanding of the benefits of Partnership over Sponsorship. The next time you approach companies for Sponsorship, remember to focus on the long term which will mean less work for you and maximum return on investment for your Sponsors in the long run. Also, by cultivating long term partnerships, you will be able to increase the amount of funds solicited annually thereby increasing the amount of impact your project or event will have.

About the Author:
Kisha Mays is a Corporate Sponsorship Expert and CEO of Glow International Group, who enjoys the art of securing corporate sponsorship for any event or project. For more information on Corporate Sponsorship visit her at http://www.sponsorshipsuccess.com



Article Originally Published On: http://www.articlesnatch.com


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