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In this video, Chris Bayliss, president and CEO of the Sponsorship Collective, discusses the concept of sponsorship letters aimed at securing funding for events and sponsorship opportunities. He introduces two main types of sponsorship letters: the first being a cover letter for a sponsorship proposal, which is not deeply explored in this video, as it is covered extensively in previous content. The second type is designed for situations where you struggle to connect with a sponsorship prospect. For further insights, viewers are encouraged to subscribe and stay updated on new videos.