When it comes to the planning of nonprofit fundraising events, sponsorships mean EVERYTHING. That statement really can’t be understated. Don’t get us wrong, the participation of your guests and supporters mean a lot as well. However, the financial backbone of a fundraising event is truly the sponsors. For this reason, we want to spend some time breaking down some of the psychology that goes into sponsorship requests. A deeper understanding of your sponsors’ thought process will bring you much better success rates when it comes to securing sponsorships.
A Quick and Easy Decision-Making Breakdown
This decision-making breakdown is actually quite simple. First, you need to get your sponsor to say “yes.” This means the sponsor is on board to support your organization. Getting to this point is also pretty straightforward. You need to convince your potential sponsor that your organization's cause is worthy of their time, money and support. You may need to have some face-to-face meetings, a few videos of your nonprofit in action, and even a few personal stories of success. Don’t worry about how much money this potential sponsor is planning to donate. That comes later. Instead, keep your initial efforts on the emotional appeal of supporting your organization.
Once your sponsor decides to support your event, this is the time to figure out how much. It’s best to be straightforward by telling your sponsor exactly how you plan to spend your funds. When a person or an organization makes a donation, they want to know that they are making a difference. Show them different levels of support and what that money will do for your organization.
Separate Your Asking Tasks It helps to think of your sponsorship ask as a two-part task. Think of it this way:
Start with the job of influencing your sponsor to support your fundraising event.
Work towards influencing how much they will give.
If you try to combine these efforts into one task, you will likely fail. Think of the sponsorship ask as a lengthy process. It takes time to earn trust. It takes time to get your potential sponsors to become emotionally attached to your cause. Let these efforts play out before you get down to money. It’s never good to come off as overeager in these scenarios. Let the work of your organization speak for itself.
If you are looking for more tips to help maximize the success of your upcoming events, please reach out to us. Our team is always ready to help! As always, thanks for reading and stay safe.