Sponsorship is a specific form of financial help. To secure a sponsorship deal, you should have a focussed marketing plan or at least a clear idea of how your idea is going to become well publicised. You need to show how an association with your project, marketing, audience and/or client group will enhance a potential sponsor’s profile in their own marketplace and ideally beyond it.
It is best to establish a relationship with as many realistic potential sponsors as possible. A sponsored relationship tends to be a long one (think sports stars and teams) during which time, the sponsor has a chance to see potential growth become a reality. If sponsors can see that that they are investing in a long-term success story, they are far more likely to contribute to individual events or to projects that are demonstrably part of the bigger plan.
Sponsors will expect you to be able to give them an exact figure of how much you need in sponsorship, the exact reason you need it (equipment, travel, marketing, fees, production costs etc.) and also who else you are going to approach for sponsorship. Some businesses may demand that they be your only sponsor, especially if there is a close link between your organisational aims and those of the sponsor.