Best way to acquire sponsorship ???

Discussion in 'Growing and Managing a Business' started by Sabir, Sep 15, 2010.

  1. Sabir

    Sabir
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    Hi guys,

    Im starting a new magazine, and we are going to try acquiring sponsorship (for a specific number of months) from advertisers, in return for a good deal on the advertising.

    What is the best way to do this?

    Thanks guys
     
  2. Fergal

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    Welcome to Business Advice Forum Sabir. What kind of magazine are you starting Sabir, what niche or topic does it cover? Which country or state will it be launched in?
     
  3. Sabir

    Sabir
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    Hi Fergal, it's great to be here. Thanks

    My magazine will be one focused on nightlife. It will contain listings etc. about clubnights and bars etc., and also articles around music, fashion, the latest movies and dvd releases (for those quiet nights when they don't feel like going out to the club), club night reviews and loads of pics etc.

    My target-audience is therefore 18-34 who like to go out on the town now and again.

    It will be launched in the UK, in four cities to begin with as that's all our funding will allow for ...

    Also, so you know: target advertisers and sponsors are all obviously brands related to nightlife or young-adults interests : alcoholic drinks, energy drinks, music and media retailers, fast-food/restaurant chains etc.
     
  4. Fergal

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    Sabir, you appear to have your target audience defined very well, which is great. You will probably have a combination of both direct and agency advertisers in your magazine. Do you plan on selling your ad space via advertising agencies? It could be well worth your while doing some research to find out who are the agencies in your target cities and then contacting them with details of the ad space you have available. The agencies will want their cut of the advertising revenue so you will have to sell to them at a lower price, than your direct ad sales.

    When selling directly, the telephone may prove to be a very valuable sales tool. Draw up lists of the pubs, clubs, drink companies, fashion outlets, DVD rental shops, etc that you want to target and then start phoning them to offer your ad space for sale. See how it works out and tweak your sales strategy as time goes on.

    How does all that sound, could it work for you?
     
  5. Sabir

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    Fergal, Hi

    This is great stuff. We never even thought about advertising/media agencies! I was just looking into that on Google right now, I'm going to call a couple of them up now in fact.

    Selling directly to pubs, clubs etc - this is actually something another expert like yourself has told us in the past aswell you know, and you're right. The calls we made to them (and sometmes personal visits) were successful in that they were willing to sponsor in return for advertising, but there was a slight problem only with the fact that they would not be willing to pay as much as a bigger company because each club or pub etc. is only based in one of the four cities. The distribution of the magazine will be 8,000, but when they hear this they only think of the 2,000 which is going out to their particular city.
    They are still willing to advertise but not for as much it seems, hence why we're trying to go for brands or franchises as advertisers - over time, as the mag gains recognition etc. this should open their eyes but as of yet we're unproven to them, and the 2 eighths factor just plays too big a part .

    About the advertising agencies, Fergal - do you know roughly how much of a percentage they usually expect to take as commission? This is probably a very general questio, but just wanted to know what to expect...

    Thanks
     
  6. Fergal

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    Sabir sorry but I don't know how much commission the ad agencies would charge, if I was to estimate it I would say that it would be around 30%, but really I don'k know and it could be quite a bit more or less than that.

    Would it be practical for you to print a slightly different version of your magazine for each city? Perhaps you might only change a couple of ads, so that you could sell ads at a lower rate for those that want to advertise in one city only. It might be too much trouble, but worth considering nonetheless.

    Another option would be to add a loose insert to the magazines that are being distributed to one city only.

    I love the sound of your publication and I wish you the very best with it.
     
  7. Sabir

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    Fergal - in terms of the different mag for different cities, it wouldnt be too practical in terms of the printing costs for 4 individual batches of 2,000 magazines (because obviously each one would be taken for a different print-run)

    But the loose insert idea is brill!! with our printers, loose inserts are £25 for the first thousand, and £5 for every subsequent thousand! Good call!

    (just a minor q to ask if you have the time) - so do u thinking getting bigger companies to advertise with us is feasible / possible?

    Thanks Fergal, its good to hear you say that, and thanks for the advice
     
  8. Fergal

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    Many of the larger companies will do all of their advertising through an agency and will not speak directly to publishers. However, sometimes a local branch / office will have a discretionary budget for local ads, so it is worth a try. Phone their offices and give it a try, you've nothing to lose really. If they say they do their ads through an agency ask for the agencies contact details. Then when you call the agency tell them you were given the contact by their client.
     
  9. Sabir

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    Ok cool, thanks for the info. We're gonna get started on it tomorrow.

    Thanks a lot for the help, Fergal, I'll be sure to keep you guys posted with progress!!
     
  10. arnilds

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    You are going to start magazine and you require sponsorship. first it need promoting your magazine in market later promotion publicity sponsors automatically contact you.
     
  11. Fergal

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    Some of that will happen, however it will still need a sales effort in order to sell advertising space. Most, if not all of the published magazines and newspapers have sales departments that are actively engaged in selling their available advertising space.
     
  12. Sabir

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    Arnilds - yes I see what you mean but I think Fergal is exactly right, because I've worked in two different kinds of magazine and they both had a significant sales team (in one mag, the sales team was as big as the editorial, design and marketing team put together)
     

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