Renewals and Exits
All good things must come to an end, and sponsorship is no exception. Whether the sponsorship has been short or long term, the time will eventually come when it will either be renewed or exited.
This scenario causes a lot of angst among some sponsorship seekers, particularly those who think themselves lucky for having signed up a sponsor in the first place, but it really doesn’t need to. Like death and taxes, it is just part of the process.
It is usually far easier to renew an existing sponsor than it is to find a new one, so taking the right approach to renewals will save you a lot of time, money, and angst.
Many contracts have a specific time by which the renewal process will start, but our ...