Top 10 Sponsorship Sales Tips 6th December, 2010

Sponsorship sales cannot be done by ad sales teams!

Great sponsorship sales people are hard to come by.  Successful sponsorship sales people typically have a unique combination of skills including marketing, planning, communication and of course sales to be able to stay in the industry.  We try to help uncover the secrets of success by outlining Slingshot Sponsorship’s Top 10 Sponsorship Sales tips:

1. Sell the benefit: in sponsorship, benefits vary depending on the sponsor company and rights owner.  Sponsorship sales people are able to articulate this by taking one benefit and adjusting it to meet the needs of the prospect.  For example, a VIP table at an event may be perfect for dining clients as well as equally perfect for incentivising staff.  This leads on to the second tip…
2. Do your research: in order to sell the benefit, you need to understand the prospect’s objectives and how your sponsorship can meet those needs.
3. Speak in their language: although everyone in the sponsorship industry understands what activation is, the CEO of a telecommunications company who has never sponsored anything previously will not know what this means.  By speaking in the same language, you are not only understanding the prospect, but also making it very easy for them to say yes.
4. Create tangible benefits: brand association is a word thrown around a lot.  Of course this is one of the benefits of sponsorship; however, is incredibly difficult to justify.  Great sponsorship sales people talk about prestige of association, but rarely lead with this.
5. Measurement: sponsorship sales people understand ROI and how to attribute sponsorship to it.  Measurement is key and is always brought up in sponsorship sales conversations.
6. Mimic body language: by mirroring their body language (not in an obvious way!) you help make them feel at ease.
7. Listen: without listening, you won’t understand the brief or their objectives.
8. Provide solutions: sponsorship is a cost-effective marketing technique with added value.  Explaining sponsorship as a marketing tool and comparing this against their other marketing platforms within their marketing mix is key.
9. Talk about their business: by understanding their business, you will be well on your way to helping their business.
10. Smile: people like to work with people that they like.  This of course doesn’t always happen, but it goes a long way in deciding who to build a long term relationship with!