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In this video, Chris Bayliss, president and CEO of the Sponsorship Collective, discusses the importance of a sponsorship letter when reaching out to potential sponsors for events or opportunities. Chris introduces two main types of sponsorship letters: the first is a cover letter for a sponsorship proposal, which has been extensively covered in previous content. The second type is used to connect with prospects when initial outreach has been challenging. Viewers are encouraged to subscribe for more insights on sponsorship strategies.