“Without research, you’ll take up a huge amount of time and effort with very disappointing results,” says Nina Kaiden Wright, president of Arts and Communications, a consultancy specializing in arts sponsorships. “Research is the essence and the heart of everything and it shortens the selling process dramatically.” Kaiden Wright outlined the value of researching a potential sponsorship partner at the recent Synergy `97 conference in Toronto.
In addition to relying on corporate publications like annual reports and media releases, Kaiden Wright also stresses the value of using daily papers for research. “Sponsorships are about tomorrow, not yesterday, so you need to know what companies are saying about themselves today,” she explains. “Keep track of business sector trends to monitor the health of your prospects’ business. Also, look at their advertising, to see how they are positioning themselves in the marketplace. This can often be a clear indicator of future directions for a company.”
Along with monitoring corporate and media communications, Kaiden Wright suggests keeping any eye out for appointment notices, particularly for new presidents who have come from another region or country. “New people from out of the country are best because they don’t usually have a series of people protecting them. They’re often easier to get to and may be looking for a way to make a mark.”
Ensure that they feel secure about the relationship
Another essential element of sponsorship research is knowing the competitive landscape. What are other organizations doing, with whom, and for how much? This knowledge can help you gauge the value of your own sponsorship proposals, and solid research goes a long way to making your prospects feel more secure about their decision.
“When pitching a sponsorship, you need to reassure the prospect that you’re giving them accurate information,” says Kaiden Wright. Show them that you know your business by explaining how your sponsorship compares to others in a similar sector. “Very few people want to do something wonderful; they just don’t want to do something awful,” she explains. If you can paint a picture of the sponsorship landscape and then fit their company into the picture, it’s much easier to make the sale.
Other support research that can set the stage for a successful pitch is an understanding of trends. “Scour the trend books,” says Kaiden Wright, “and if your proposal goes with a trend, be sure to reinforce that to your prospect.” Books like Boom Bust and Echo, and other futurist and demographic trend books are a valuable source of general information. She comments that, “You can’t sell something in the specific until you have sold it in the general. You need to show the prospect that you know where the world is going, and that your project will help their company get there.”
To be successful in sponsorship, says Kaiden Wright, “you need a degree in passion, common sense, and time.” You must know your cause and believe in it vehemently, assess the needs of the partner and meet them effectively, and take the time to conduct thorough research before making the call.
