What EXACTLY Does A Sponsor Want?
“What exactly do you do for sponsors? What exactly does a sponsor want? These are questions from two different sides, racers and sponsors, and we are going to dig deep about this topic in this blog. With the questions about sponsorship that I’ve been receiving, I believe, this is the perfect way to address these questions for the reference of other racers too.
What is Sponsorship?
First, let’s define sponsorship. Sponsorship is ADVERTISING for the sponsoring company. It is when a company provides resources to a program in exchange for a promotion. As a sponsor. If you do more for me. I will do more as a sponsor for you. Simple. Sure, that as a racer you have your entire history of who’s who and what you have done with your racing journey. You got this and that, you have connection to this and connection to that. But you’re missing the right piece of hitting the bulls eye of the sponsorship. This is not just about you as what you have as a racer, rather it’s about your sponsors too. What exactly you can do for your sponsors?
The things that you can do for your sponsor depends on the type of sponsor you’re going for and there’s not just one simple single answer at all to this. How can you help your sponsor? What is it that the sponsor needs? Or when should you seek for sponsorship. A racecar park and a pizza place sponsors have completely different audiences therefore they also play entirely different to how you would be able to serve them. With that, what is it that you can do to overcome and perhaps reach people in different way?
One good example is my first hand experience, during the pandemic my business dropped like a rock. I felt weird going for a little while there, and I tried something new. I started doing a live show that becomes a regular live show where we do Q & A on Sunday. We gain more followers and we sold more. You have to put the pieces together to reach larger audience for your potential sponsor. Moreover, you need to have a win-win situation between you and your sponsor. The benefits that the two parties can get in sponsorship should be clearly specified.
I would like to give you more concrete examples with questions I got from my live Q and A video. Watch it here. But overall, sponsorship is about the value and benefit that the parties involved could give and get to each other that they can’t do for them. I would love to help racers to market their racing brands, join Winning Motorsports Marketing Group to learn marketing for racers.