Why You Should Use Niche Markets When Approaching Sponsors
The biggest mistake that anyone can make in marketing is trying to appease everybody.
Bill Cosby once said, “I don’t know about the key to success, but the key to failure is trying to please everybody.” Not only is this true for business in general, it’s also true when it comes to getting sponsorships. If you try to make your sponsorship proposition appeal to everyone possible, it will be less appealing overall. However, if you take the time to understand your target audience, both in terms of your sponsors as well as your customers/fans, you’ll be far more effective in your efforts.
When sharing your brand, event, or idea with potential sponsors, you have it is important to:
- Show a keen understanding of your niche market: Who is your most enthusiastic fan? You might reach a broad audience but there are certain types of customers that resonate your brand more than anyone else.
- How reaching your niche market would benefit the sponsor: Who are these people and why would your sponsorship prospect be interested in them?
- Why the sponsor needs you to reach this niche market: How can working with you give the sponsor credibility for your most enthusiastic fans?
Your fundraising event, band, or charity might have a wide net that covers a large variety of people but the most effective way to win over a business is to show that special niche relationship. For example, a breast cancer walk might have participants of all ages, genders, racial backgrounds, income levels, etc. but the largest, most passionate audience tends to be upper-class women in their 40’s. This is the niche market that their sponsors want to reach.
The Susan G. Komen Foundation takes it a step further by identifying groups of the multiple niche markets that they hit. In their sponsorship proposal, companies can choose a sponsorship package that is geared to hit specific target audiences, For instance, their sponsorship package options allow you to choose between targeting participants, corporate partners, runners, cancer survivors, volunteers, the medical community, donors, and more. They’ve already demonstrated incredible brand exposure and leveraging their connection with specific markets to build more effective partnerships with sponsors.
How could you apply this to your own sponsorship packet proposals? Perhaps you could build specific options that market to a niche audience (for example: a certain age or gender group, regional fans, those with a specific set of interests, etc.). The more that you can demonstrate you understand your fans, the more appealing you will be to sponsors who want to connect with that audience.
If you’ve found this information helpful, check out the book, How to Get Sponsorships and Endorsements, which details everything out step-by-step, discusses how to get contact information at companies, has templates for nearly ever kind of inquiry (including the sponsor proposal packet itself). It costs less than $4 for the e-book: http://amzn.to/KV1Nlr If you’d like an actual book, the paperback costs about $10 and is available here: http://bit.ly/LRKzok
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