How To Seek Project Sponsorships

Money is what drives every project. Without the constant supply of it, there is often difficulty in completion or its eventual success. Finance is much needed for every project, whether a building project, an event or a business innovation. Sometimes our personal resources will not be able to fund our projects.

This is why we sometimes seek sponsorships from external bodies. In this article, I will explain the best approaches I consider to help you get sponsorships for your projects.

Identify sponsors

The first step is to identify your potential sponsors. Who do you want to give you financial assistance? Is it an individual or a corporate body? You should consider these things before you launch out with seeking sponsorships. Depending on what niche your project falls into, identify organizations that sponsor projects in that niche.

Create a list

Identifying sponsors and operating from the top of your head is not enough. It is also expedient that you create a list of these potential sponsors. You can create an excel sheet where you list the sponsors and basic information about them.

Do your research

You must have generally searched for organizations or individuals that sponsor projects in your niche.

However, at this stage, you will do in-depth research on your selected potential sponsors. Pick them one after the other and do your background checks on them.

Write an executive summary

Similar to what is provided in a business proposal, the executive summary is also very necessary. This summary details your project and your plans for its execution. It will include your aims, objectives and budget, amongst other things. When asked about the project details, you will present this to your potential sponsor.

Outline the benefits

Identify what you will bring to the table too. No sponsor will fund your project if there is nothing to gain from it. 

So, identify what you will be adding to your potential sponsors. This, you will state in a separate section, as it will be handed to your prospects.

Draft a call-to-action

Most likely, your CTA will be to ask them to fill out a sponsorship form. If interested, they will fill out the form you have created. It should contain your request to have them call you or send you a message to further discuss the sponsorship details.

Send your sponsorship requests

This should be in the form of a mail. Make it as personalized as possible, as it will give them the assurance that you sincerely need their individual input. Avoid doing a broadcast, as this will not paint you in a good light.

Now you must have sent your sponsorship request, it is advisable to follow it up with a phone call. This should be after about 3-5 days when you believe they must have read it. Find out if they have concerns as regards the sponsorship, and assure them that you are readily available to receive their help.