We had a wonderful conversation about sponsors, everything from the initial messaging to finding contacts to how to communicate with companies. Three takeaways from the session:
Focus on what you can directly impact. Whilst you all are planning goals/milestones for sponsorship, focus on numbers you all can directly influence such as number of emails sent per week instead of focusing on $5,000 raised. From the Sales Pipeline resource listed below, in sponsorship, “you get results by focusing on the things you can do, not on the things you can’t do anything about.”
Increase the front of your sponsorship pipeline. Sales is all about understanding the conversion rates between an initial contact to interest to confirmed. The number of companies initially contacted is directly proportional to how many sponsors confirm, so increase the front of your pipeline as much as possible with cold and personal contacts.
Keep organized. Another key to sponsorship, and essential to planning hackathons in general, is keeping organized through the years. Maintain and update a method to keep track of your sponsor progress either in a Google Sheet or CRM like HubSpot.
- Sales Pipeline - A great resource for anyone on the sponsorship team to learn more about Sales 101. This is something I wish I’d read when I was the sponsorship director of my own event.
Have questions about sponsorship? Post below and I’m happy to offer my experience