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Sponsorship – a Wonderful Joint Venture

Written by: Robin Elliott

Article Overview: One of the best Joint Ventures available is Sponsorship. But it takes an understanding of the psychology and dynamics of this win/win scenario to make it work optimally in the interests of both parties.

Sponsorship – a Wonderful Joint Venture

One of the best Joint Ventures available is Sponsorship. But it takes an understanding of the psychology and dynamics of this win/win scenario to make it work optimally in the interests of both parties. Here are a few guidelines than can make a big difference to your business.

First, let’s think about what you want. You want money and value in return for exposing the Sponsor to your database and public. You want the Sponsor to pay you for endorsing them and promoting them. Enough said.

Now, let’s think about what the Sponsor DOESN’T want. They don’t want to feel they’ve been ripped off. They don’t want to pay too much and get too little. They don’t want to feel they have aligned themselves with the wrong people and sullied their immaculate reputation. And, often, you’re dealing with a fearful sycophant who is terrified of making a mistake and getting into trouble with his boss for making the wrong choice.

Sponsors get approached often by all and sundry, usually charities looking for a hand-out and not offering any reciprocal value at all. So you need to be unique in the way you present this Joint Venture. You need to create massive value. You have to stand out from all the beggars and leeches. You have to get their attention. You’re offer has to be very attractive and push all the right buttons. It must be customized for that particular Sponsor. Right? By understanding the Sponsor’s position, it’s easy to do that.

Many people who want Sponsorship use all the money to cover their costs. Sponsors want maximum exposure and that includes advertising. The event / product / service they’re sponsoring should be advertised in respected and respectable media. They probably don’t want their name mentioned in the Marijuana Mail or the Poll Dancin’ Post. Unless your sponsor is a strip club, that is. So your offer should always include advertising in media that reaches the Sponsor’s demographic model. Sponsors want to know exactly what you’re going to do with their money.

The Sponsors should be shown their potential return on investment. If it’s a realty office, how many prospective clients could they be reaching? What is their closing ratio likely to be? How many sales is that? How much per sale will they earn? Be specific. Discuss these figures with them. Understand their business and their sales ratios. What are they looking for? Leads for their salespeople? Branding? Give them what they want.

Understand your costs and the Sponsor’s costs. If they’re sponsoring a seminar, offer them seats on the seminar – your cost is negligible. If the Sponsor is WestJet, it costs them very little to offer you seats on a flight. If it’s a hotel chain, a room costs them around $20. Get Sponsors who can leverage their own products and services in your behalf. If they agree to advertise you in their newsletter or on their website, make sure the advert actually appears. And you should always offer them proof of what you’re promising, too.

You need to create massive credibility. Do this with an attractive package, testimonials and proof of what and who you say you are. Show the Sponsor what’s in it for them. Show them the money (ROI) and be very professional. Use every tool you can. And, if you’re going to go to all this trouble, approach large Sponsors and ask for a lot. You can always negotiate down. Make sure you really do believe it’s a win/win and seek a long term relationship. Do your due diligence. Just because the Sponsor is well packaged doesn’t mean he’s legitimate, honest or professional. It might just mean that he’s spending a lot of his investors’ money to look successful and attract more investors.

Attracting Sponsors should be a large part of your marketing. Do it right and you will be well rewarded. This is one of the most lucrative Joint Ventures available as you both leverage resources with common goals and a common demographic model.



- Robin J. Elliott

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Related Forum Posts
Re: [JOINT VENTURE] Want FREE Staff? Want to Scale Up Massively? - Hi Alan, Welcome to the forum! [quote="Joint Venture":2bfdqwzb]Total transparency is a must when JVing with someone.[/quote:2bfdqwzb] What about when inviting people to send you their proposals...? Cheers, David H
Don't leave your Wallet on the table - Targetzone, Evan has great points on targeting you package. Also I read the revenue model you mentioned and i believe you are leaving a lot of money on the table. Aisde from making just $15/sale of a package you could also be making income from sales generated after the people use the coupon on their second and ongoing visits to the Service/Product company. I've sent you a PM - We can talk more advanced strategies. BTW - I'm a Dollarmakers Member and have taken the Joint Venture BootCamp 101 and highly recommend it if you wish to pursue this idea. PM me privately and we can talk.
Re: [JOINT VENTURE] Want FREE Staff? Want to Scale Up Massively? - [quote="Joint Venture":3738ldxh][quote="Ringo":3738ldxh]1) Credentials? Any website? Any client list? 2) Where do you get your staff from? How? I mean if i really am going to hand over a lot of sensitive information to be handled by staff of your choosing, I'll need to know how you operate with total transparency.[/quote:3738ldxh] Ringo, 1) Send me an email with your proposal and if I like it I shall disclose all that your need. 2) That's my USP! Total transparency is a must when JVing with someone. Let me know your proposal and we may discuss it. In regards to staff dealing with your sensitive information, compartmentalize the data. Have different teams deal with only a section of the whole picture. [quote="ideasuniversity":3738ldxh]How long have you been doing this? And what are your success rate?[/quote:3738ldxh] Joint venturing? I have done JVs before and had good success. This JV? Brand new. New source of staff. Success rate? I've made a good bit money! [quote="Trent Brownrigg":3738ldxh]This same person posted this exact same post several times at another forum I moderate. Now, he is posting it here as his very first post. I consider that to be a spammer![/quote:3738ldxh] I consider it being proactive! Sorry if I have stepped on anyone's toes. Not my intentions. Look forward to reading more of your emails, Alan[/quote:3738ldxh] Let have your website.
Re: need a capitalist to hear me out - If you have solid business plan, there are thousands of Angel Investors and Venture Capitalists that will fund your project. Google "Venture Capitalist" and you will get tons of investors who are ready to fund your project
Re: [JOINT VENTURE] Want FREE Staff? Want to Scale Up Massively? - [quote="Joint Venture":1ofoz1sm] [quote="Trent Brownrigg":1ofoz1sm]This same person posted this exact same post several times at another forum I moderate. Now, he is posting it here as his very first post. I consider that to be a spammer![/quote:1ofoz1sm] I consider it being proactive! Sorry if I have stepped on anyone's toes. Not my intentions. Look forward to reading more of your emails, Alan[/quote:1ofoz1sm] Well, I will give you credit for at least coming back here and replying. But just an fyi that you will be seen as a spammer if you post the same thing on a bunch of different forums, especially if you post it more than once on any one forum. You should be careful about that because a lot of people are members of the same forums.


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