SayPro Task: Finalize all ongoing sponsorship negotiations and close deals with at least 5-10 new sponsors.

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SayPro Task: Finalize All Ongoing Sponsorship Negotiations and Close Deals with at Least 5-10 New Sponsors

Objective:
To successfully conclude all active sponsorship negotiations and secure signed agreements with a minimum of 5 to 10 new sponsors, thereby advancing SayPro’s financial and partnership goals for the upcoming festival.

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1. Review Current Sponsorship Negotiations

Compile a Comprehensive List of Ongoing Leads

• Gather all current sponsorship prospects that are in active negotiation stages.
• Include details such as:
  • Sponsor company name
  • Contact person and communication history
  • Proposed sponsorship package and value
  • Key points of negotiation or pending issues
  • Expected decision timeline

Prioritize Based on Deal Readiness

• Rank prospects by:
  • Likelihood to close soon
  • Sponsorship value potential
  • Strategic alignment with SayPro’s brand and audience

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2. Clarify and Confirm Sponsorship Terms

Revisit and Finalize Contract Details

• Ensure all terms are clear and agreed upon, including:
  • Sponsorship levels and associated benefits
  • Payment terms and deadlines
  • Deliverables such as branding, digital exposure, event presence
  • Any exclusivity or category restrictions

Address Outstanding Concerns

• Follow up promptly on any questions or objections.
• Provide clarifications, additional information, or flexible options if needed.

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3. Engage in Focused Negotiation Meetings

Schedule Targeted Calls or Meetings

• Arrange direct discussions with key decision-makers to:
  • Resolve last-minute concerns
  • Emphasize mutual benefits and value of partnership
  • Clarify deadlines and next steps

Utilize a Persuasive, Solution-Oriented Approach

• Highlight the unique selling points of SayPro sponsorship.
• Offer tailored sponsorship add-ons or incentives if appropriate.
• Maintain a collaborative tone aimed at win-win outcomes.

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4. Prepare and Send Finalized Contracts

Draft Clear, Professional Agreements

• Use standardized contract templates customized for each sponsor.
• Include all negotiated terms, signature lines, and contact info.

Ensure Easy Access and Review

• Send contracts via email or digital signature platforms (e.g., DocuSign) for efficiency.
• Offer to review the contract live to answer any final questions.

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5. Follow Up Consistently and Promptly

Establish a Follow-Up Schedule

• Send polite reminders within 2-3 days of sending contracts.
• Use calls, emails, or messaging apps as appropriate.

Track Responses and Update Status

• Log each follow-up attempt and sponsor response.
• Identify and address any delays or hesitations immediately.

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6. Secure Signed Agreements and Confirm Payments

Obtain Formal Signatures

• Confirm contract receipt and signatures.
• Store signed agreements securely and share with relevant internal teams.

Coordinate Payment Processing

• Issue invoices promptly according to agreed payment terms.
• Monitor payment receipt and follow up as necessary.

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7. Communicate Closing Success Internally and to Sponsors

Notify Internal Stakeholders

• Share finalized sponsorship list with marketing, event, and finance teams.
• Update CRM and tracking systems to reflect closed deals.

Send Sponsor Welcome Messages

• Thank sponsors for their partnership.
• Provide next steps on onboarding, deliverables, and communication.

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8. Prepare for Onboarding and Activation

Schedule Kickoff Meetings

• Plan meetings to initiate sponsor onboarding.
• Discuss timelines, asset submissions, and activation plans.

Provide Sponsorship Welcome Kits

• Share brand guidelines, event details, and contact points.

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Outcome:

By following these steps, SayPro will efficiently finalize outstanding sponsorship negotiations and secure at least 5-10 new sponsorship deals, providing a solid financial foundation and strong partnership network for the upcoming festival.

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