What do you do when you are seeking Sponsorship Dollars, but offered product instead. Giving product is considered an in kind donation.
Obviously, you would rather have the money, right? What if the company is unwilling or unable (probably because their yearly sponsorship budget is maxed out or committed to other events and projects) to give you money, but offers to give you product instead?
Keep in mind that if you did your research and the company is a good match, then you may be able to use the product. Don't get upset or give an automatic "no." Take the time to think about what is being offered and truly consider it. Follow the same exact procedure in closing the deal if you decide to take the product. Instead of using dollar amounts, use product amounts.
Remember this is about building relationships for future partnerships. If this event goes well and you take care of the Sponsors, the next event that you have the product donation could turn into a monetary donation or both. Take care of the sponsors and they will take care of you in the long run!
So, product or in-kind donation can be a very good thing. An example: airlines typically give in-kind donations of flight passes that can be auctioned off or given away. Alcohol companies typically give in-kind donations of alcohol; this is not to say that they won't give money (because they will),
but be open to product donation. It can help eliminate some costs from your budget. It will only help you to make contacts, build relationships, and have the best event possible.
It is all about being persistent and never giving up. Don't give up until the opera lady sings - and not even then!!
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