Funding a project isn't easy....check out these 10 tips to acquire sponsorships

Entering the music business as an up-and-coming artist and sometimes even as established artist can be very financially consuming. When you are attempting to fund an album, as well as properly market and promote it, it can really eat a hole in your pocket, even when you have the capital to do those tasks. One sure way to attempt to remedy that is to seek sponsorships. “Sponsorships can provide a win-win situation for all involved - a way for businesses to reach consumers more effectively utilizing integrated marketing; and an avenue for musicians to acquire funding for their tours and/or projects. ” --Jeremy Rwakaara

When approaching companies or individuals for sponsorships you have to be very careful due to them, for good reason, being selective with the spending of their funds. When looking through some of the resources I use to enhance my management skills I came across an article titled, “10 ways to make your project more attractive to sponsors” and found it extremely useful.

In the article they provide 10 ways to make your project more attractive to sponsors and to put yourself in a different category from others artists that may also be seeking sponsorships.

1. Be able to clearly identify your audience, their loyalty level and buying habits - apart from buying your music/merchandise and attending your shows (e.g., the highest percentage of your audience members are 34-55 year old females that buy health products; 16-25 year olds that participate in sports events; 40-60 year olds that like to travel etc.).

2. Identify the benefits, properties and/or rights you own as well as how to package and market them to the potential sponsor (e.g. copyrights, patents, trademarks, service marks, merchandise, logos, mailing list, talent, event, image etc.). Know which benefits will be most useful to the sponsor and keep your fees reasonable.

3. Be clear about the type of image you project. Sponsors will associate with projects that fit with the image they are trying to establish and cater to the demographic they are trying to reach.

4. Know something about the company(s) you wish to partner with. Know what their sales/marketing goals and challenges are as well as what they have sponsored previously.

5. Create/Produce a project that is appealing to the media. Companies prefer projects that can attract TV coverage, especially if their logos and/or products can show up in the broadcast.

6. Be open to bundling your project with other companies/individuals that have more clout than you if you don't have enough marketing power or media attraction on your own. Keep in mind, however, that you must also limit the number of companies that you attach to the event/project. Conflicts (and conflicts of interest) will occur when sponsors compete or don't match well with other co-sponsors.

7. Enable and help your sponsor to measure the benefits that you are offering. Your project won't attract sponsors unless the sponsors can generate measurable business returns from their sponsorship investments. For example, if 50 people that attend your concerts also purchase products from one of the sponsoring companies using coupons handed out at the concert, that result can be measured and credited to the sponsorship campaign.

8. A project/event that has the potential to be long term or spread to different markets will be more attractive to sponsors than a one-time event-taking place in a single location. In other words, a tour covering several cities, regions, or countries is more attractive to a sponsor than a show occurring once in only one city.

9. Prove that you will deliver the benefits and follow-through promised to the sponsor. Whoever is administering/organizing/managing your project should have their "house in order". In the same way that sponsors sometimes fail to pay the fee promised to a project - project owners often fall short on their end of the bargain.

10. Be willing and able to tie your product(s) into the sponsor's existing promotional campaign. If you feel queasy about creatively integrating a sponsor's logo(s) and product(s) into your show/tour, then you will have a hard time attracting sponsors.


Again these are just options that you can utilize when attempting to acquire individuals to sponsor your project. The process can be a tedious and asking for assistance is sometimes needed when trying to become the best artist. Developing sponsorships with individuals can form a partnership that last throughout an entire career. At some point we all need a little help. Never be afraid to reach out to properly skilled professionals. Forming a strong team is essential to success no matter whet your profession is.


Source: Artist management Resource