Using Learning Launch to Solve Sponsorship Problem

Challenge

I am a member of my College’s Socializer for a Fest. I had to Take care or Marketing and finance. Our  challenge was to approach Different Financers and Sponsors. The team I was leading had a group of  15 individuals (all College Juniors), and our work to convince the Sponsors to invest in our college fest.  The budget they gave was limited to only half of what we expected. We were given a Limit of the No.  of Sponsors; we had to get them on our campus, and the Solution we had was to have 2 Main Sponsors  and 3 Sub-Sponsors.

Selection

Our team has already referred to a few several design thinking tools, and we concluded to try the  learning launch tool. The learning launch is an experiment meant to test quickly. We held a Workshop  in one of the Funding Companies and Cracked a Deal for a Three Year Sponsorship.

Application

For our learning launch, we focused on Planning for Attracting Sponsors by the only asset we had that  was to guarantee a comprehensive media Coverage. In particular, we aimed for Gaining a Trustful  Partner so that we wouldn’t Spoil the College’s Reputation. Because we couldn’t finalize early who the  Best Company would be to consult. Our team went through a list of Different Companies in the market.  Next, we went through a Bunch of Entrepreneur Companies that require Advertising. After  approaching a Lot of Companies, we decided to give the Sponsorship to a Company in the Online  Education Stream, trying to Compete with Big competitors. So we thought that it would be a Suitable  company to Sponsor.

Insight

By understanding and applying the learning launch tool, our group finally got a Sponsorship.  Something that went Unexpected was after we got our Sponsorship confirmed from our desired  Company, we got More deals, and we were offered more budget. Our actual Budget was Nominal, but  we couldn’t find any company that would Sponsor. After Getting a Sponsor, our store Increased by  the Sub-Sponsors who were more approachable. The fest went for three days, and it was well  organized.

Approach

Approach Given that our team has already gone through several design thinking tools and after  marketing and Advertising about the fest, we got a good response. As previously mentioned, our team  had tried to Incorporate the Results of the Learning Launch and were planning to approach the same  next coming Years. Future launch designs should reflect what we learned from the First and How  Successful we were. These Insights, Approaches, and the results we acquired will help in Organising a  Bigger Fest.

