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Sponsors are a great help in covering your costs and contributing to your charitable goals. The entry fees, unless extremely high, usually will not cover all the costs of your event. So, even if you are hosting a fun event-focused tournament more than a charitable (and fun!) event, you may need to have a few sponsors. Obviously, the more money you hope to raise, the more sponsors and higher sponsor donations will accomplish this goal.
How Do I Decide Who to Ask?
- Make up a list of potential donors
- Do research beforehand
- Form a strong relationship or connection before you make your ask
- When you are meeting with potential sponsors, you can ask them if they know of anyone who may be willing to be involved
How Do I Make the Ask?
- The person who approaches a potential sponsor should be someone who is invested and on board with the project and who is good at asking for money
- Meet the potential sponsor where they are. Go to them
- Know what you are going to say and don’t take up too much of their time.
- Help them understand your event goal, the BYU connection, the charitable results that will transpire from a successful event, and how they can make a difference.
- Have a nicely printed flyer or a letter that you can give them with the details.
- Be genuine, direct, and specific.
- Tell them what you will do for them. Some sponsors prefer exposure, while occasionally is happy with anonymity or little promotion.
- Be prepared for rejection. Try not to put anyone on the spot. Give people options so everyone can win in the ask.
- Say thank you more than once. Sincerely thank them for their time, any input they gave, for all they do, etc. Be especially appreciative and gracious to the sponsors who accept to be a part of this event.
How many sponsors can/should we have?
- The more sponsors there are, the greater the financial base you’ll have.
- Companies – Sometimes they would like to sponsor in kind. Rather than money donated, they donate the dinner, or goods, etc.
- Family Foundations
Sponsorship Perks – Suggestions:
- Acknowledgment of their sponsorship everywhere that is appropriate – on a welcoming banner, in the advertising, have them be acknowledged at the closing ceremonies, etc.
- A special sponsor-only hat, jacket, or shirt
- Be creative