Richard Woodward

Strategic Planning Facilitator, Business Development & Sponsorship Training

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How to become effective at securing sponsorship

There is no mystery as to why some people are effective at securing sponsors and corporate partners whilst others are not. The explanation is found in their actions; what they do or don’t do which you simply have to observe in order to understand.

To be effective in any role you need an effective process and to demonstrate key competencies (attitudes, skills and knowledge). Securing sponsors is no different. If someone is unable to attract sponsors, the reason is that the person either has an ineffective process or is not competent in one or more of the required competencies.

The key stages of an effective sponsorship seeking process 

Understanding the market

The starting point in any business development process is to understand the market that you are entering, in the case of seeking sponsors you need to understand why companies undertake sponsorship and what they look for in a proposal

Understanding what you have to offer

Once you understand the market’s needs, you then identify which of those needs you can help to satisfy and develop a propositions around the outcomes and value that you can create

Identifying prospects

Having developed your propositions, this will allow you to identify companies that will be attracted to your propositions; companies that can derive value from what you have to offer (qualified prospects)

Approaching or attracting prospects

Qualified prospects are approached either though personal introduction, letter or telephone, alternatively you attract prospects through speaking, writing or experiencing your events

Building rapport

The first meeting is about building rapport (trust and understanding) with prospects by discussing their issues, using their language and asking questions based around research you have undertaken on their business

Uncovering specific needs and exploring solutions

After building rapport, you uncover the prospect’s specific needs through questioning and active listening and explore solutions to those needs based on what you have to offer

Presenting solutions

This allows you to develop and present a compelling solution in the form of a proposal and presentation

Inducing action and overcoming objections

At the end of the presentation, you induce action to get them to say ‘yes’ and if required you must be prepared to overcome their objections

Effective at every stage

Improving your performance is about making sure that you are effective at every stage of the process. It’s no use being a great presenter, if you haven’t uncovered their real needs, and it is no use having great approaches if you haven’t identified anyone to approach.

Attitudes, Skills and Knowledge (ASK’s)

At each stage of the process there are key ASKs that need to be displayed in order to be effective

Key skills include

  • Research
  • Analytical
  • Communication
  • Rapport building
  • Questioning
  • Active Listening
  • Writing
  • Presentation
  • Negotiation
  • Project Management

Key knowledge includes understanding

  • Your target audience at a business and personal level
  • Your organisation and your features, benefits and proposition
  • Your competitors and your unique selling point (USP)
  • The market in terms of the going rate for similar sponsorships
  • The macro environment

Key attitudes to display include

  • Belief
  • Initiative
  • Determination
  • Enthusiasm
  • Attention to detail
  • Flexibility
  • Creativity
  • Professionalism
  • Passion
  • Positivity

To be effective you need to display all three; skills, knowledge and attitude. It is no use being passionate (attitude) but not understanding the market (knowledge) or be unable to effectively present the opportunity (skill)

The four steps to raising your game

1. Knowledge

– understanding what an effective sponsorship seeking process is and the competencies (attitudes, skills and knowledge – ASK’s) that are required within the process

2. Identify

– identify your barriers to performance; the stages of the process and the ASKs that you need to improve as an individual, as a team and as an organisation

3. Improve

– address your barriers, typically through some form of training and coaching.

4. Reinforce

– finally you must reinforce the new learning over time, as real behavioural change only comes from reinforcement

Categories: Propositions, Proposals and Presentations, Sponsorship and corporate partnerships

RICHARD BLOGS REGULARLY ON:

  • Business development
  • Client retention
  • Propositions, Proposals and Presentations
  • Questioning and listening skills
  • Sales techniques
  • Sponsorship and corporate partnerships
  • Strategic Planning Facilitation

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About Me

Richard is a business development strategist, trainer, speaker and author who has worked with leading organisations since 2004 to help them attract and retain new business.

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Richard Woodward & Associates Pty Ltd PO Box 908 Bondi Junction 1355 Sydney, Australia

Phone: + 61 2 8964 4350
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Email: richard@richardwoodward.com.au

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