The Dallas Examiner
For many new business owners that have learned to turn their passion into products or services, spent months of business planning, pricing and creating, the next hurdle may be financing.
For those entrepreneurs, sponsorship could be an important asset to the success of their business. Sponsors can help a start up business flourish by creating a larger networking system for the business and presenting it to a wider audience, which can aid in sales and income.
Shayna Rattler, business instructor for the Steve Harvey Success Institute, is the go-to person to help entrepreneurs find sponsors.
“You are a 15-degree shift away from being able to partner with large organizations like Wal-Mart, Apple, and Best Buy, so you can have more impact, influence and income,” she said during a Be The Answer conference for women.
The minority business development expert said corporations spend up to $22 billion a year on corporate sponsors.
“You are the answer to these organizations because you can provide them with unique and inspiring ways to reach their target market,” Rattler said.
There are three things that make a brand sponsorable: a clear and defined target market, a sponsorable brand and demonstrating return on investment.
In order for you to provide these corporations the answer, you must first make sure that your specific and defined audience matches the audience of the brand you want to sponsor you.
“The only way that the partnership will be in alignment is if your target market is aligned,” Rattler said.
Once their audience is defined, entrepreneurs must show that their brand is very sponsorable. Rattler advised that the audience use a 360-degree activation plan in which they showcase to brands their multiple streams of income that these brands would want to be a part of and that they are influencers and content creators.
To be an influencer, you must show potential partners that people follow behind you for your expertise.
“I’m an influencer because I teach you how to get the big bucks from the big boys,” Rattler said as she provided an example of an influencer.
Content providers show these brands the multiple services they have for their customers online and offline.
“It’s about showing that you are touching that target market in different ways multiple times throughout the year,” she said.
Before closing the session, the sponsorship expert left audience members with an exercise for them to apply to their business after the event. Rattler instructed that attendees identify what their primary topics and sub-topics are for their blogs and create this content. Once they have created their content, she advised that they become more active on their social networks and find ways to increase their audience engagement rates.
“Corporations are more worried about how people engage with you opposed to how many people follow you because they want your target market to be their clients,” she explained.
Rattler said entrepreneurs must understand that when they do meet with these potential sponsors it’s not about knowing everything and having every solution present. It’s about teaming up with the sponsors to find this information.
“Sometimes, we think we always have to go in knowing all the answers,” she said. “You just have to know that both of you have shared values and interest with the same target market, and, then, the two of you together can co-create a solution.”