Brokering Partnerships
While a sponsor may be willing to invest in your project because they believe in what you are doing or in return for some acknowledgement, a partner will require a more formal arrangement with clear mutual benefits.
In most cases, you will need to prepare a written proposal if you are approaching a potential business partnership. The proposal should include a well developed ‘business case’ which clearly shows the benefits of the proposed relationship for both parties.
Don't waste your time, effort and money with a ‘blanket’ approach. Research and target companies:
- with a track record in partnering in cultural activity
- which have never partnered before but with whom your project shares common goals
- whose business is in the creative industries or has something to gain in reputation or business development from connection with your activity
- whose client/customer base may be relevant to your activity
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which have the staff, resources and capacity to manage their side of the partnership (as you do to manage yours!)
Look after your sponsors!
Sponsorship from a business can be cash or in-kind (for example, assistance in the form of free materials, equipment, services). If you are lucky enough to find companies who are willing to invest in your activity don’t take them for granted.
Depending on the value of the sponsorship you can:
- offer them publicity in your program or on display boards in your venue
- give them a copy of the poster for display in their business
- invite them to a special cocktail hour or dinner before the event or supper after to show appreciation
- announce their names publicly at the event
- provide a framed acknowledgement
- keep them up to date with reports on the event
- think of a fun way to remind them when the next event is coming around!