Tips For Requesting A Corporate Sponsorship (from Our Partners At PSECU)
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Corporate sponsorships can make a big impact when it comes to budgeting and fundraising for your Mini-THON efforts, but businesses are often bombarded with more requests than they can accommodate. Because of this, it’s important that you make your request stand out.
Guest Post by PSECU
To help you gain insight into doing so, we interviewed Karen Rousche, Public Relations Manager for PSECU. Rousche oversees much of PSECU’s community and nonprofit support, including the credit union’s Mini-THON Donor Drive Page sponsorship.
What is the difference between philanthropy and corporate sponsorship?
Rousche says this is an important question that Mini-THON participants should pay close attention to. She explains that to her, philanthropy is giving with no expectation of recognition or reward, such as when a friend or family member personally donates to your Mini-THON fundraising efforts.
Corporate sponsorship, however, is a bit different. A business usually gives a larger dollar amount than an individual, and those requesting sponsorship should be prepared to meet the business’s expectations based on their level of support. Simply stated, the more a business donates, the more a recipient should recognize them.
What are the steps to securing a corporate sponsorship?
Rousche says the first step is to prepare a list of sponsorship packages. “Don’t leave the dollar amount up to the company to determine,” she says. Make a list of benefits that add value as the sponsorship levels increase.
Next, make a list of area companies that would be good to approach for a corporate sponsorship.
Then, Rousche says, you must build trust with the potential sponsor. A few things she suggests are:
How should you decide which companies to approach?
Some people rely on existing connections with companies when looking for funding. “If you know someone, that’s always a good in,” says Rousche, “but don’t assume that it’s a shoe-in. All rules still apply.”
Rousche encourages you to consider small, local organizations that rely on business from the community to thrive, such as a restaurant or auto mechanic shop. For a larger company, she says to look for ones that have an existing community outreach program, often evidenced in press releases on their website.
How does a company decide whether to commit to a corporate sponsorship?
This is a hard question, according to Rousche, as it can vary significantly between companies. Things a company may consider include how a request was presented, if the cause aligns with the company’s values or priorities, and whether funding is available.
Additionally, it may depend on whether the business supports the cause in another way. For example, if a company already supports Four Diamonds as a larger organization, they may not be able to give additional support to individual schools for Mini-THON, or support of individual schools may already be included in their sponsorship package.
When should you approach companies for corporate sponsorships?
This depends on the timing of your event. For example, if you make requests later in the year, a company may have already exhausted their funds for the year, so you may get more no’s than yes’s, according to Rousche. If you understand this going in, you can be prepared to offer solutions, she says, such as asking if you can follow up in January when more funds become available.
You’ll also want to plan well in advance of your event. Larger companies, especially, often need several months to get requests through approvals and put together any marketing pieces needed.
Is there anything to avoid when asking for a corporate sponsorship?
"I don’t think I can overstate this point,” says Rousche. “Check, double-check, and check again for typos.” Submitting a sloppy request can make potential sponsors question how seriously you’re taking your fundraising.
Additionally, Rousche gives these tips:
What are some good ways to recognize companies for corporate sponsorships?
This will vary based on your event, what’s possible, and how much funding the company provides, Rousche says. Some ideas include:
What’s the most memorable request you’ve received?
Rousche says one of her most memorable sponsorship requests came from a high school student. The request stood out to her because he clearly articulated why the cause mattered to him and what he had personally done to move the cause forward. He provided all the information she needed to make a decision and suggested a respectable follow-up plan.
“I had never heard of it. I never would have given it another thought if it weren’t for how professionally he had put his request together,” Rousche says of the well-written, error-free request she received.
“Students who are involved in Mini-THON can utilize their Donor Drive pages to convey that same level of professionalism,” says Rousche. She encourages participants to personalize it, allowing potential sponsors to learn about you, the cause, and how their contributions will make a difference.
The content provided in this publication is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by PSECU. PSECU does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. PSECU does not warrant any advice provided by third parties. PSECU does not guarantee the accuracy or completeness of the information provided by third parties. PSECU recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.
To help you gain insight into doing so, we interviewed Karen Rousche, Public Relations Manager for PSECU. Rousche oversees much of PSECU’s community and nonprofit support, including the credit union’s Mini-THON Donor Drive Page sponsorship.
What is the difference between philanthropy and corporate sponsorship?
Rousche says this is an important question that Mini-THON participants should pay close attention to. She explains that to her, philanthropy is giving with no expectation of recognition or reward, such as when a friend or family member personally donates to your Mini-THON fundraising efforts.
Corporate sponsorship, however, is a bit different. A business usually gives a larger dollar amount than an individual, and those requesting sponsorship should be prepared to meet the business’s expectations based on their level of support. Simply stated, the more a business donates, the more a recipient should recognize them.
What are the steps to securing a corporate sponsorship?
Rousche says the first step is to prepare a list of sponsorship packages. “Don’t leave the dollar amount up to the company to determine,” she says. Make a list of benefits that add value as the sponsorship levels increase.
Next, make a list of area companies that would be good to approach for a corporate sponsorship.
Then, Rousche says, you must build trust with the potential sponsor. A few things she suggests are:
- Doing your research before you reach out, such as finding a contact for public relations or community relations on the company website.
- Sending a well-composed email outlining the request. Include details, such as sponsorship packages, your goals, and how the money will be used. To make it more personal, share why the cause resonates with you, a success story from the organization, or why you decided to reach out specifically to that company.
- Following up after you make the request and responding quickly if you hear back.
- Thanking the company personally.
How should you decide which companies to approach?
Some people rely on existing connections with companies when looking for funding. “If you know someone, that’s always a good in,” says Rousche, “but don’t assume that it’s a shoe-in. All rules still apply.”
Rousche encourages you to consider small, local organizations that rely on business from the community to thrive, such as a restaurant or auto mechanic shop. For a larger company, she says to look for ones that have an existing community outreach program, often evidenced in press releases on their website.
How does a company decide whether to commit to a corporate sponsorship?
This is a hard question, according to Rousche, as it can vary significantly between companies. Things a company may consider include how a request was presented, if the cause aligns with the company’s values or priorities, and whether funding is available.
Additionally, it may depend on whether the business supports the cause in another way. For example, if a company already supports Four Diamonds as a larger organization, they may not be able to give additional support to individual schools for Mini-THON, or support of individual schools may already be included in their sponsorship package.
When should you approach companies for corporate sponsorships?
This depends on the timing of your event. For example, if you make requests later in the year, a company may have already exhausted their funds for the year, so you may get more no’s than yes’s, according to Rousche. If you understand this going in, you can be prepared to offer solutions, she says, such as asking if you can follow up in January when more funds become available.
You’ll also want to plan well in advance of your event. Larger companies, especially, often need several months to get requests through approvals and put together any marketing pieces needed.
Is there anything to avoid when asking for a corporate sponsorship?
"I don’t think I can overstate this point,” says Rousche. “Check, double-check, and check again for typos.” Submitting a sloppy request can make potential sponsors question how seriously you’re taking your fundraising.
Additionally, Rousche gives these tips:
- Address your contact properly, respectfully, and appropriately. Remember that you’re not speaking to a friend, so you don’t want to be too casual.
- Be careful not to contact them too often, as this can be a deterrent.
- Make sure you’re behaving professionally and not distracted when you’re speaking to your contact.
What are some good ways to recognize companies for corporate sponsorships?
This will vary based on your event, what’s possible, and how much funding the company provides, Rousche says. Some ideas include:
- Place their logo in visible areas.
- Allow them to participate, distribute promo items, and possibly give comments at the event.
- Incorporate their name into an event.
- Draw attention to their business when possible.
- Give their sponsorship a title. For instance, a dentist’s office could be the Sponsor of Smiles.
- Recognize them on social media.
What’s the most memorable request you’ve received?
Rousche says one of her most memorable sponsorship requests came from a high school student. The request stood out to her because he clearly articulated why the cause mattered to him and what he had personally done to move the cause forward. He provided all the information she needed to make a decision and suggested a respectable follow-up plan.
“I had never heard of it. I never would have given it another thought if it weren’t for how professionally he had put his request together,” Rousche says of the well-written, error-free request she received.
“Students who are involved in Mini-THON can utilize their Donor Drive pages to convey that same level of professionalism,” says Rousche. She encourages participants to personalize it, allowing potential sponsors to learn about you, the cause, and how their contributions will make a difference.
The content provided in this publication is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by PSECU. PSECU does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. PSECU does not warrant any advice provided by third parties. PSECU does not guarantee the accuracy or completeness of the information provided by third parties. PSECU recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.
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01/14/2021 4:34pm EST
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