When’s the Best Time to Ask for Sponsorship? Spoiler: It’s Sooner Than You Think!

If I had a dollar for every time I got asked ‘when is the best time to ask for sponsorship’, then I’d be...well, a hundrednaire.

Seriously though, it’s one of the top questions I get during training, events, and client sessions. So let's dive into it!

Today I’m going to share with you the 'best' time to approach sponsors for sponsorship.

The Best Time To Approach Sponsors

You might think the best time to approach sponsors is when brands are setting their yearly budgets. Sounds logical enough, right?

But, here's the twist: I've seen brands magically find money mid-year for the right sponsorship opportunities.

Plus, they can often use leftover budgets for unexpected sponsorships.

You'll be amazed at how brands can make things work, IF they're interested in it enough.

Now, I want you to think about something you're aiming for, it can be personally, or professionally.

Perhaps making more money, learning how to build a tool shed, or running a marathon. It can be anything you like.

Now imagine I have some valuable information or tips to help you reach that goal faster.

When would be the best time for me to share that info with you?

If you're like most people, you'd probably say, "Now!".

There are not a lot of times when getting this help wouldn't be useful.

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Sponsorship (when done right) is similar!

Your goal with sponsorship is to understand what a company’s goals and priorities are before you approach them.

Your next goal is to figure out how you can add value to them and help them with those priorities and goals.

If you do this well, there's rarely a bad time to approach sponsors.

Asking, "When is the best time to approach sponsors?" is like asking, "When is a good time to share a good idea?".

There's no bad time for great ideas!

Now, this is the Magic Mike simplistic view, of course. There are some additional

layers to this which I'll go into now.

But first..

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Common Excuses (and What They Really Mean)

Hearing that there are not a lot of bad times to approach sponsors might trigger a couple of cynical thoughts at this point, as you think back to times when you’ve approached sponsors, and they’ve said things like:

• "Now isn’t the right time for us".
• "We don’t have the budget right now".
• "We’re swamped with other work at the moment".

I hate to be the bearer of bad news, but you’re here to get more sponsorship, so if I'm not honest with you on this point then I wouldn't be helping you.

In my experience, these responses often mean your pitch didn't clearly demonstrate how you can add value, and it's a polite way of saying "no".

If your proposal truly resonates, brands will often find a way to work with you.

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When To Avoid Approaching Sponsors

While, as a general rule, it's never a bad time to approach sponsors, there are in fact a couple of instances where timing matters.

For example, you may want to avoid approaching companies during major restructures and layoffs.

It's tough to secure sponsorship when people are losing their jobs.

As a business, they can't really announce to their remaining staff they've just spent money (they said they didn't have) on a new sponsorship, while at the same time, they've just axed half of their friend's roles. Disaster.

However, a restructuring also presents an awesome opportunity for you.

Once things settle down, their staff morale and culture is going to be unsettled due to the shake-up.

This can be a great time to pitch ideas on how you can help them rebuild staff morale, productivity and engagement.

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Opportunistic Times To Approach A Sponsor

While there is often no 'best' time to approach sponsors, that's not to say there aren't occasions when it can be more opportunistic to approach a sponsors.

Here are some times when brands might be more open to sponsorship discussions:

• Rebranding – Brands often have additional budget to showcase their new brand and get the word out there.
• Opening New Offices – When a company is entering a new region, expanding, or moving into new offices, there's nothing like celebrating growth with sponsorship.
• Launching New Products/Services – Help them spread the word, educate their audience and get people trying their new wares.
• New CEO or Head Of Department – Fresh leadership means fresh ideas and openness to new opportunities.
• Poor Public Perception or Public Blunders – Help them bounce back with positive sponsorship initiatives.

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Final Thoughts

There's no single 'best' time to approach sponsors, but there are certainly opportunistic times.

Remember, if your proposal or approach strikes the right chord, and adds genuine value, brands will be interested in talking to you.

I’ve witnessed brands pick up millions of dollars worth of un-budgeted sponsorships in times when they’re also telling other sponsorship wannabes that they don’t have budget.

Always add value and figure out how a brand can use your sponsorship to drive results for their business.

If you want to earn an average of 3 x more sponsorship, get in touch with us today to see how we can help you.

Mike Wootton.

CEO/Founder

Sponsorship Pantry