Sponsorship 101


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Sponsorship 101

  1. 1. Sponsorship 101 Ryan Kuhn PerformX Racing [email_address]
  2. 2. Why get sponsored? <ul><li>Get free stuff </li></ul><ul><li>Offset costs of sport participation </li></ul><ul><li>Industry networking </li></ul><ul><li>Media promotion through brand affiliation </li></ul><ul><li>Bragging rights </li></ul><ul><li>Get paid…if ever </li></ul><ul><li>Key: know what you want and why you should get it </li></ul>
  3. 3. What do companies want? <ul><li>To sell their product! </li></ul><ul><li>You are an advertising investment </li></ul><ul><li>Competition results, important but… </li></ul><ul><li>Other activities – media exposure, videos, articles, volunteerism </li></ul><ul><li>Business leverage – how do you hook them up? </li></ul><ul><li>Image – are you what they want to be? </li></ul>
  4. 4. Ways to get sponsored <ul><li>Letters of inquiry (cold calls) and résumés </li></ul><ul><li>Word of mouth and reputation </li></ul><ul><li>Friends and contacts </li></ul><ul><li>Company “partners” </li></ul><ul><li>Events/Races </li></ul><ul><li>Retailers (shops) </li></ul>
  5. 5. Levels of sponsorship <ul><li>Local retailers – the “pro” deal – go talk to them </li></ul><ul><li>Company-direct “pro” deals </li></ul><ul><li>Factory support – free stuff, travel </li></ul><ul><li>Team support – free stuff, travel </li></ul><ul><li>Paid athlete – salary, employee </li></ul>
  6. 6. The Cold Call – getting your foot in the door <ul><li>Send a letter/email of inquiry – brief, concise! </li></ul>
  7. 7. Follow up with a personal note/cover letter and résumé
  8. 8. Résumé: clean, tight, one doc
  9. 9. Résumé : insert pics
  10. 10. The Cover Letter <ul><li>Key considerations: </li></ul><ul><li>Demonstrate knowledge of their product and market </li></ul><ul><li>Don’t repeat what’s in your résumé – refer to it but use the cover letter for more; keep it one page </li></ul><ul><li>If event/race results are your selling point, use the letter to highlight what you offer off the track/course etc. </li></ul><ul><li>This is your first impression so make it a good one – proof read (ensure all grammar and spelling is correct!), be concise and have someone else look at it before you fire it off. </li></ul>
  11. 11. Foot in the door – now what? <ul><li>Know what you’re asking for, because that’s the first thing they’ll ask you </li></ul><ul><li>Be realistic – if you’re not top 5 in the biggest events or a video hero, don’t expect to get paid or even receive free gear </li></ul><ul><li>If you’re asking for product remember this is product placement (marketing) for them…it’s an investment, not free swag </li></ul><ul><li>Listen to their queues – what are they looking for and how could you provide it? </li></ul>
  12. 12. So you’re hooked up, now what? <ul><li>Sponsorship is often a long-term affair, so deliver! </li></ul><ul><li>Provide regular updates to sponsors on activities and events – show what you’re doing </li></ul><ul><li>Consider a monthly newsletter to update all sponsors at once </li></ul><ul><li>Leverage exposure – use one company’s event to highlight other sponsors </li></ul><ul><li>Be professional – sometimes it’s not how big you go or how many spins you can do, but how cool you are off the track/course etc. </li></ul><ul><li>Modern media – make it your friend – through self-edit vids, pics, social networking, etc. </li></ul>
  13. 13. Other options: <ul><li>Sponsorship websites such as Sponsorhouse, Hookit.com, etc. </li></ul><ul><li>Outside the industry sponsors – hard to come by but who knows </li></ul><ul><li>Distributors – sometimes you can get product without a factory-direct deal </li></ul><ul><li>Word of mouth – enough can’t be said about who you know. As knowledge of you grows in the industry, this is the ticket. </li></ul>
  14. 14. Last thoughts: <ul><li>Always be professional and courteous </li></ul><ul><li>If denied, be polite – they’ll remember it when you apply next year </li></ul><ul><li>These are tough economic times and many companies are “hanging on” to see what happens; don’t be discouraged if nothing comes of the process </li></ul><ul><li>With or without sponsor support, you’ll learn a lot and make contacts, which bodes well for future opportunities </li></ul>