Sponsorship is an important fund generation tool in the conference and trade show arena.
Sponsorship is a revenue generation tool within the marketing area. Sponsorship letters and prospectus are used as communication tools for reaching target audiences. The best sponsorship tool used depends on the relationship with the audience and the specifics of the event.
Usage
Using a sponsorship letter versus a prospectus depends on the relationship the organization has with the prospective sponsors, as well as the specifics of the conference, trade show or other event. Sponsorship letters are generally used when a relationship exists with the prospective donor; in this circumstance the letter is offering repeat sponsorship opportunities. A sponsorship prospectus, the full package with sponsorship cost and benefits, is best used when soliciting new relationships.
Using Both
In some circumstances a sponsorship letter and a prospectus may be used with the organizers issuing a letter first, followed by a prospectus with additional details. The initial letter might be used as a method of generating awareness surrounding the event, with the prospectus serving as a follow-up tool for relationship building. However, according to Eve Grumpel of "Women Entrepreneur," "Be brief, be brilliant and be gone. Ask for what you want, but don't take up a lot of a potential sponsors' time doing it."
Specifics
Sponsorship letters should note the specifics of the event and invite the returning sponsor back to the event, with a reminder of the benefits of the event in one page or less. If the invitee is not a previous sponsor, use the letter as a method of generating event awareness and noting that a prospectus shall follow. The prospectus should include a list of costs associated with sponsorship at the varying levels, examples of previous sponsors and a summary of attendees.
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