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In this video, Chris Bayliss, president and CEO of the Sponsorship Collective, discusses sponsorship letters aimed at securing funding from potential sponsors for events. He outlines two main types of sponsorship letters: the first serves as a cover letter for a sponsorship proposal, although this video focuses less on that since related content is available in his blog posts and videos. The second type addresses challenges in reaching out to prospects when initial contact is difficult. Chris encourages viewers to subscribe to the channel for future updates and resources on effective sponsorship strategies.