Discussion about sponsorships and Summary of previous threads

Business/Operations Revenue Sources
1

There are a number of threads about sponsorship and some are dated. We summarized the actionable advice below and have the following specific questions for you about how to best launch a sponsorship program.

Our Questions

  • How much are you getting for your cash sponsorships? How do you sell them? What benefits are you offering your sponsors?
  • If you are offering memberships to other organizations(like a neighborhood crossfit gym), how does that work for you?
  • Which specific companies have you worked with? Any suggestions? We love Justin’s Snacks by the way.
  • What other ways have you been able to get sponsorships?
  • If you have had some success, we would love to chat and share some best practices. (Hint: Free Beer)

SUMMARY NOTES FROM PREVIOUS POSTS:

Types of Sponsorships

  • Sponsorships
    come in all shapes, ways, and form; sponsorships for invoicing, accounting,
    supplies, car sharing, CRM software, computer accessories, printing, and cafes
    are a couple examples.
  • Apply
    for a grant, program, or competition from a government program, university, or
    other organization in the area.
  • Work
    with Internet providers, especially with fiber companies that are looking to
    grow, for free or discounted Internet.
    Many co-working spaces are receiving six months to a year in free Internet
    or large discounts for the service.
  • Sell
    ad spaces on the building or inside the office space. For example, many incubators are selling the
    name of their rooms, such as a conference room.
  • Create
    membership packages with universities, gyms, coffee shops, and larger venues to
    get discounts for their members to your space or for your members to their
    space. For example, a cowork space in
    the UK sold two memberships to a local university in which two students at a
    time may use the space. Another example is getting a gym discount for your
    members.
  • Partner
    with public transportation networks, such as shared bikes, shared cars, and
    subways.
  • Create
    incentives for members to sponsor or contribute more upfront. For example, you can print exclusive black
    RFID cards for members that pay for an entire year in advance. One space created a “Wall of Fame” that
    features the initial “founders” and “sponsors” forever for $500 to $1500.
  • Work
    with a law firm (either local or national) for a cash sponsorship or for them
    to give free advice and services. The
    firm is able to connect members with their connections and often will write
    about you in articles, blog posts, and magazines.
  • Create
    events, such as pitch competitions, in which companies are able to participate
    in, recruit from, and provide funding or a service.
  • Partner
    with media sources (generally local) to advertise your workspace for content. Ad departments have empty ad spaces to fill.

Advice for the Pitch

  • Create
    a formal proposal that you can provide to the potential sponsors. The platform helps you know what you are
    asking for and what you can provide to the sponsor.
  • Make
    sure that your sponsors know what they are getting in return. The return for them should be several times
    larger than their contribution. This is
    crucial because it has been expressed to us that so many people call for a
    sponsorship but they never talk about what the sponsor will get in return.
  • Make
    sure the company that is sponsoring is a great fit. They want access to your
    members.
  • In-kind
    sponsorships are easier to get than cash sponsorships
  • One-time
    sponsorships are easier to get than on-going sponsorships.

Brian Yen

Sponsorships

GeniusDen Business Incubator - Dallas TX

214-455-5652

2

Thanks Brian! Ive been through nearly all the threads and this is a great summary. You should make this a top/sticky post in the group.
Megan Holcomb

Community & Outreach Manager

Green Spaces - Denver, CO

···

On Monday, February 1, 2016 at 12:37:16 PM UTC-7, Brian Yen wrote:

There are a number of threads about sponsorship and some are dated. We summarized the actionable advice below and have the following specific questions for you about how to best launch a sponsorship program.

Our Questions

  • How much are you getting for your cash sponsorships? How do you sell them? What benefits are you offering your sponsors?
  • If you are offering memberships to other organizations(like a neighborhood crossfit gym), how does that work for you?
  • Which specific companies have you worked with? Any suggestions? We love Justin’s Snacks by the way.
  • What other ways have you been able to get sponsorships?
  • If you have had some success, we would love to chat and share some best practices. (Hint: Free Beer)

SUMMARY NOTES FROM PREVIOUS POSTS:

Types of Sponsorships

  • Sponsorships
    come in all shapes, ways, and form; sponsorships for invoicing, accounting,
    supplies, car sharing, CRM software, computer accessories, printing, and cafes
    are a couple examples.
  • Apply
    for a grant, program, or competition from a government program, university, or
    other organization in the area.
  • Work
    with Internet providers, especially with fiber companies that are looking to
    grow, for free or discounted Internet.
    Many co-working spaces are receiving six months to a year in free Internet
    or large discounts for the service.
  • Sell
    ad spaces on the building or inside the office space. For example, many incubators are selling the
    name of their rooms, such as a conference room.
  • Create
    membership packages with universities, gyms, coffee shops, and larger venues to
    get discounts for their members to your space or for your members to their
    space. For example, a cowork space in
    the UK sold two memberships to a local university in which two students at a
    time may use the space. Another example is getting a gym discount for your
    members.
  • Partner
    with public transportation networks, such as shared bikes, shared cars, and
    subways.
  • Create
    incentives for members to sponsor or contribute more upfront. For example, you can print exclusive black
    RFID cards for members that pay for an entire year in advance. One space created a “Wall of Fame” that
    features the initial “founders” and “sponsors” forever for $500 to $1500.
  • Work
    with a law firm (either local or national) for a cash sponsorship or for them
    to give free advice and services. The
    firm is able to connect members with their connections and often will write
    about you in articles, blog posts, and magazines.
  • Create
    events, such as pitch competitions, in which companies are able to participate
    in, recruit from, and provide funding or a service.
  • Partner
    with media sources (generally local) to advertise your workspace for content. Ad departments have empty ad spaces to fill.

Advice for the Pitch

  • Create
    a formal proposal that you can provide to the potential sponsors. The platform helps you know what you are
    asking for and what you can provide to the sponsor.
  • Make
    sure that your sponsors know what they are getting in return. The return for them should be several times
    larger than their contribution. This is
    crucial because it has been expressed to us that so many people call for a
    sponsorship but they never talk about what the sponsor will get in return.
  • Make
    sure the company that is sponsoring is a great fit. They want access to your
    members.
  • In-kind
    sponsorships are easier to get than cash sponsorships
  • One-time
    sponsorships are easier to get than on-going sponsorships.

Brian Yen

Sponsorships

GeniusDen Business Incubator - Dallas TX

214-455-5652