What is sponsorship?
For a small business, sponsorship is cash, products or services given to a property (this is the event or marketing activity) in exchange for access to the property's community, members or customers
How can I use sponsorship in my business?
If you have an event or activity that targets a group of people that have a common theme or demographic, you can use sponsorship to generate cash, products or services.
Why would I use sponsorship?
Sometimes our business goals require extra revenue, sponsorship can bring cash and resources to reach those goals. Such as, a venue, covering your print costs, providing customers with extra resources that support your offering.
What are the benefits of sponsorship?
There are many benefits to sponsorship, here are our top 3:
- Provides cash and resources to help you, reach your goal
- If you are new or unknown in a particular market, you can leverage your sponsor's brand recognition. Potential customers trust your sponsor, so they are more likely to trust you!
- Sponsor can promote you to their customers, generating more awareness and visibility. As Shelagh Cummins says we all need eyeballs on our business
How can sponosrship generate revenue?
With Sponsorship, your sponsors are looking to get access to your community, members or customers. The more information you can provide about your reach, demographic and interests, the better. This now has value, as it is also another businesses target market. The better the alignment with a sponsor the more successful you will be. The amount generated depends on the size, location and reach
How do I get started?
We are putting together a tool kit to support small business owners in their search for sponsors. In the mean time here are 3 things you can do to get started.
- Identify your Community, Size, demographic, interests and needs
- Identify potential sponsors your community would buy from
- Put together a master list of all the activities you can do to support your sponsor.