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If you're preparing a letter to attract sponsorship prospects for your events, this video by Chris Bayliss, CEO of the Sponsorship Collective, is essential. He discusses the concept of a sponsorship letter, highlighting two main types. The first type serves as a cover letter for a sponsorship proposal, although this video focuses less on that due to previous extensive coverage in his blog and videos. The second type is especially useful when you're struggling to engage a prospect. The video aims to provide insights and guidance for crafting effective sponsorship letters to improve your chances of securing funding.