We’re coming up on finishing the first half of the season and I know what’s on your mind: MONEY. How can you nail down some sponsors for these last few months and even get prepped for 2022? You know you need to uplevel your racing to get more points, and that doesn’t come without financial support and funding.
I’ve totally been there: The stress of looking at the numbers and wondering how I’ll be able to pay for the next buy-back round if I need it.
But over time, I’ve been able to secure over 6-figures in sponsorships for my own team. I want to give you my best tips so you’re not in that same situation as I was.
When it comes to securing sponsors, there are a couple of factors to consider. For this post, we’re talking about how you can make yourself an attractive investment to sponsors.
What Sponsors Need to Know
It’s coming down to a numbers game. Sponsors have to make sure they’re making a wise investment, and that comes with being super aware of your results and your market. They want to know what you’re bringing to the table. That means stats and also that social media influence we’ve been talking about. When they stick their name on you, whose eyeballs are they reaching? They gotta know the reach that you can give them in exchange for the $$ you’re after.
What Sponsors Need You to Do
Sponsors, as much as it’s hard to believe sometimes, are just regular people with regular companies. They’re not just data machines running your stats with their expectations; they’re looking for something more high-touch and in-depth. Being prepared with case studies of previous and current sponsors (no matter how small) is essential. Do some interpreting for them — you brought X many eyeballs to their company, but what does that mean? Explaining how working with you helped other companies will help these potential sponsors see easily the benefits of partnering with you.
What Sponsors Need You to Have
The best way to display all that info (the stats and the case studies, etc.) is in a professional marketing deck with lots of pictures and videos to draw their eye in. It’s key to prove to sponsors that you mean business (because this is your business!). Showing up with a presentation you made with a 20 year old PowerPoint template and a prayer isn’t going to cut it with the big names and big budgets you’re shooting for. I know this can seem challenging if you’ve never put one of these together before, but we gotta start somewhere!
I’m here to help: I have a roadmap to sponsorship decks I think is going to be really helpful for you, and it’s free, grab it here:
Your Secret Sauce
Here’s something you need to know to stand out from all the other racers chasing down sponsors: Know. Your. Worth. Don’t just guess at your pricing or create rigid sponsorship tiers (you know the ones I’m talking about) and then getting bummed when you don’t get what you want.
Know the valuation of their logo on your car. Know what the value of their product in your Instagram stories is. Guessing willy-nilly or just copy-pasting someone else’s packaging structure you Googled isn’t going to work for you. Know the actual valuations of what you’re putting out there for sponsors, and be willing to work with them to create a win-win situation every time.
Here’s your next step to get this journey going: Reach out to sponsors you’ve worked with in the past and ask them what worked and what they liked about working with you, and ask what can be improved. Feedback is your best friend to develop your systems to winning the sponsors you’ve always dreamed of.
If you were taking notes on this post and want more sponsorship and racing marketing coaching, my Fueled and Funded program is for you! Or if you’re not ready to make the big leap but need a boost, check out my sponsorship proposal template.
Share with me! What’s your best tip for landing sponsors?