I get asked a lot why sponsor valuations are so important. In one word, CONFIDENCE. In fact, most people who take my workshop tell me that it is the #1 benefit of having a formal, trusted valuation process.
This is a question I get asked all the time. The short answer is: as long as it takes for the prospect to decide they want to invest in your project, whether it be a program, an event sponsorship or a naming right.
I have a Naming Right being approved for a municipality at the end of the month for $600,000 over 15 years and it has taken over two years to get it to this point. I also have five (5) other Naming Rights being approved for a non-profit corporation over the next few weeks. The average amount of time to get them on board has been about nine (9) months and they are worth significantly more of an annual investment than the first one. So, the pricier naming opportunities have taken less than half the time to close than the municipal one – so, what gives? Continue reading “How Long Does it Take to Secure a Sponsor?”