To solicit funds from a potential donor, I would try to show them how their sponsorships would be of benefit to them. As an example, a sporting event would involve marketing of the donor’s products or brand and programs. This way of earning a sponsorship is great because it appeals to the self-interests of the donor and they are thus more likely to respond positively to suggestions on sponsorships (Bloomerang, n.d.). Another way to approach the issue is by selecting potential sponsors based on the kind of corporate social responsibility that they carry on with. Nike, for instance, endorses a lot of sporting activities because it is in the business of selling sportswear and thus would be more interested in sponsoring sports events compared to say a company that deals with financial services.
In order to achieve the projected goal, I would create a detailed plan for the sponsor showing how their sponsorships would benefit them and the community in general and from this develop a pitch for the sponsorship deal. Such an approach, according to Weinstein (2013), is one way to have repeat donors. It is important to involve as many stakeholders as possible at this stage because sponsorships can be influenced by people with power such as school heads and politicians. Donors also want impact stories that show that their products are being put to good use and this is important in retaining donors for the long run (Finch, 2014).
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Response
I like your idea of earning sponsorships; it is actually very thoughtful. I agree that first, you must create a pitch and select potential sponsors based on their product categories. It is as I noted earlier, companies such as Nike and Adidas that are involved in sports and related merchandise are more likely to support athletic events than companies that do their business, say, selling kitchen products. As you say, sponsors also look for opportunities to market themselves and thus it is important to include as part of the sponsorship pitch ways in which potential sponsors are going to benefit. I, for instance, suggested naming my sports events after my sponsor; in that way, they get to have their presence known. Thanks for your post.
References
How to Turn One-Time Donors Into Repeat Donors . (2017, April 27). Retrieved from https://www.softwareadvice.com/resources/how-to-create-repeat-donors/
Stop Fundraising, Start Relationship-Building . (June 10). Retrieved from https://bloomerang.co/blog/stop-fundraising-start-relationship-building/
Weinstein, S., & Barden, P. (2017). The complete guide to fundraising management . New York, NY: Wiley.
