by STREAMER MAGAZINE
READ TIME: 4 MIN
A sponsorship deal is a great way to monetize your visibility as a streamer and content creator. But how and where do you start, and how should you plan for it? We list five steps that are crucial to landing and maintaining a sponsorship deal.
THE RIGHT MINDSET
The first step is getting into the right mindset. A common mistake while looking for sponsors is focusing on what the brand can offer you or what products you could get for free.
Thinking like this is a losing approach. Instead, consider how a potential sponsor deal could become a win-win situation for you and the brand. To become a win-win situation, you need to figure out what you can bring to the table. What can you actually offer the brand? How can you convince the brand that they will benefit from sponsoring you?
WHAT CAN YOU OFFER THE BRAND?
The second step is doing some research and figuring out the goals of the brand you want to reach out to. Fortunately, we can already give you two of the answers. The brand is most likely interested in making sales and building brand awareness. Your job is now to present a sponsoring opportunity for the brand by being as creative as possible. You need to figure out how you could help the brand sell products and build brand awareness.
You will be in a good position if you already have a lot of viewers and followers. Brands selling products aimed at general consumers are always looking for broad exposure. If you have solid social media metrics, you can attempt to convince the brand that exposure to your audience can boost sales.
Most personal brands or influencers will not have millions of followers, so how should you approach a potential sponsor if you’re not a mega star? If you’re a niche content creator, you probably have expertise and knowledge that can be useful for a brand selling niche products or services. A smaller follower base with a shared interest in something niche can be more valuable than a large following with no shared interests. It may seem like common sense, but that’s not always the case.
Research companies and brands that align with your niche and target audience. Look for brands that have previously collaborated with influencers or show interest in influencer marketing. Consider reaching out to both large and small companies, as smaller brands may be more willing to work with up-and-coming influencers.
There are almost no limits on what brands you can reach out to if you are creative. All that matters is if you can present a deal that makes sense. The main question is if your plan will sell more products for the brand or create more brand awareness. It will be tough to convince a brand to sponsor you if the answer is no.
REACH OUT
The next step is reaching out to the brand. Craft a personalized and professional sponsorship proposal. Introduce yourself, explain why you believe their brand is a good fit for your audience, and outline the benefits they can gain from partnering with you. Highlight your audience demographics, engagement rates, and any unique opportunities you can offer (e.g., sponsored content, product reviews, giveaways, or event coverage).
Do not be afraid to reach out, but mentally prepare to get a no 99% of the time. Keep being persistent, and always structure a deal with the best possible exposure for the brands you want to work with. When you get a no, politely ask what you could improve to make a future sponsorship possible. Sometimes, the answer could be as simple as you have too few followers.
Getting a sponsor deal with a major brand can be challenging since they mostly deal with those who can offer maximum exposure. That is why you should never neglect newer and younger brands. Specifically, identify brands that are not present or have a weak presence on your social media platforms. Remember that many brands are still lacking in time and social media skills. You could be the one who opens their eyes and becomes their brand ambassador.
CLOSE THE DEAL
You can structure a sponsorship deal in many different ways. The most common arrangement is when you get products, monetary compensation, or a percentage of sales. The offer will often be a take-it-or-leave-it deal. But with some brands, you will be able to negotiate.
The important thing is that you feel comfortable with the deal. Never be afraid to walk away from something not feeling acceptable. Usually, no deal is better than a bad deal.
However, have realistic expectations and think long-term. You will likely not be paid large amounts on your first sponsorship deal unless you have a massive following. Most brands prefer sponsorship deals giving you products or a percentage of sales through affiliate links. If that’s the case, it’s up to you to decide if you believe it could be a springboard to something bigger and better.
FOLLOW UP
The final step is monitoring that everyone involved is doing their part and honoring the sponsorship deal. There should be clear goals and guidelines for what you and the brand should expect from each other. There should always be a timeframe for how long the sponsorship is running, and it should be clear what your compensation for your work will be. As with any agreement, it should also state how to terminate the contract. Getting legal advice before signing a sponsorship contract is a good idea.
Provide detailed analytics and performance reports to sponsors after collaborations. Demonstrate the success of your campaigns by showcasing metrics such as impressions, engagement rates, click-through rates, and conversions. This data will help build trust with sponsors and encourage future partnerships.
Streamer Magazine lives in the intersection of creativity, art, music, gaming, memes, and supporting live streamers. Sometimes we sponsor streamers, do giveaways, and host competitions.
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