Sponsorship Strategies for Promoters
Why sponsorship proposal fails? How can I retain sponsors? These are some of the many questions that everyone wants to know about sponsorship. Let me share with you some tips that could help you understand the right approach when you look for sponsors.
In fact, this is one of the topics I discussed when I had the opportunity to speak about sponsorship tips, tricks, and ideas for track and series promoters at the Inaugural Southeastern Promoters Workshop held in Gatlinburg, Tennessee.
In this blog, we will identify the do’s and don’ts when obtaining and retaining sponsors. The question is, why is it necessary to deep dive in this topic? Cause there are lots of misconceptions when we heard of the word sponsorship. Most of the time, we thought that a sponsor is just after your profile, then paycheck. We forgot the essence on why sponsors vetted on you in the first place.
What is the essence of sponsorship?
Everybody should re-think the purpose of having a sponsors. Sponsorship is about adding value to their business. It’s doing something that escalates the sponsors’ value. The way way you can help your sponsors is to think of what you can do for them that they can’t do for themselves.
One great sample that I’ve been doing for my brand is using Facebook Live. Through Facebook Live you can leave a Call-to-Action (CTA) in the comment section that lead your audience to a sale. Doing this can help your sponsor as they may not be able to do this for themselves.
It’s not email, it’s phone call
There’s a fear involve when sending emails, let’s admit it. Cause we are thinking that we might not be able to get an answer once we hit the send button. And my tip to get through this is that, rather than sending an email make your initial contact to your sponsors by giving them a call. Try it!
“Send to all” is a no-no when sending a proposal. Create your personalized proposal about the company of your target sponsors. Talk about your profile on its first 2 pages then the details on what you can have for your sponsors on the next pages. Do not forget to save and send it in a PDF file.
Did you know that gift certificate is an invitation from a potential sponsor? This can effectively translate a relationship with a company or a potential sponsor. And in return, as a racer, you can mention these companies in case you post about it in social media and thank them.
Heard about FITFU? It stands for the Fortune Is in The Follow Up. This thing is what most of us forget to high light whenever we take the process of getting sponsors. Sending proposals does not end after hitting the send button but it’s rather a beginning of chasing your sponsors until they tell you their answer. Your consistency, of course not being annoying, is the clue to make them say yes.
Four race tracks, near my place, had closed. They closed because they have personal reasons or can’t handle social medias or even financial. They got reasons, that’s all. But with the option to seek for sponsors, I believe, it’s going to help them get back to business again. It’s just the matter of getting the right approach by using the tips and tricks I mentioned above.