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Friday, July 10, 2009

How To Find Advertising Sponsors For An Online Venture

Think of this as a multi-stage process where you are building relationships with sponsors and your audience.

So, there is some fundamental homework that you can do now to ensure that you are successful in a few months. Here are some things that you should begin doing:

1) Contact a short-list of potential sponsors (you'll have to clearly identify the right criteria). Learn what's important to sponsors since you want them to invest in your online campaigns/business.

2) Clearly identify your target audience (i.e. your local college students) and start identifying segments that are potentially relevant for your sponsors.

3) Have the sponsors you've contacted define for you the type of information that they want (and the value of that information).

4) Put into place the means to track/measure key attributes of your audience that sponsors find valuable. Practically speaking, that could be as simple as using web analytics and periodic surveys. Engage your sponsors to find out what methods have/have not worked.

5) Based on your discussion with sponsors, outline a kit and verify that the information you are collecting/insights you are gathering are indeed valuable. BTW, remember to collect information in-line with the latest online privacy and permission laws.

6) Offer some genuine insights to your sponsors so that they recognize as you having valuable information.

The key point: bring your sponsors in early to the process. Build relationships with them. Don't just look upon them as a source of money. Building relationships will also endear you to them. They need to think of you as a means to help their business succeed. Otherwise, you're one of a million suppliers.

1 comment:

Ajay said...

Very useful. Thanks, will follow and give you a feedback on the response I get.