There’s a group of racers that still believe that sponsorship is just a logo and a check. Some tracks still think a billboard does the trick, too. Since you’re taking the time to read this newsletter, you’ve likely already qualified yourself out of those groups. Welcome! 
So, you’re one of the racers who are as motivated to find marketing partners as they are to perform well on the track. You’re ready to match up your offerings – your tangible assets and your audience – to a company’s goals, whether those are customer-focused, business-to-business or internal.
Instead of talking about sponsorship mentality, I wanted to give you some ideas about where you, the motivated and educated sponsorship seeker, might get hung up in the process: making it easy for sponsors to say ‘yes’ to your offer.
Have you ever wanted to buy something and gone to the business with the full intent to make a purchase, only to walk out with nothing in hand? Ask yourself, why?
When you’re buying a gallon of milk or a pack of zip ties, you might not have a hard time purchasing a different brand than your preferred, or choosing a different color. You might pay a little more than usual, or have to make a different size work. But you still make a purchase.
But, let’s say you’re buying a car. Or a computer. Or a couch.
When you’re spending a decent sum of money on a purchase you don’t make often and that has utility in your life, the buying process becomes more complicated.
How do you find the right product? Can you look at it in person? How will you pay for it? Does the company you’re buying from have a good reputation for service?
Of course, it does need to have all, or most, of the bells and whistles on top of providing the function you need it for.
But that’s where I see motivated racers getting caught up in the process. Many of us worry about creating too many options for companies to buy instead of making sure that if they want the package or solution you’re offering, they’re able to buy it easily.
Here are a few tips for how to make it easy for sponsorship buyers to sign on:
Have an online presence. The first thing a marketing manager will do when they see your pitch or decide to reach out to you on their own is Google you. What will they find? Do you have a website and social media channels? Will it what they find be clear, professional and – possibly – be about more than on-the-track performance? Are you active and promoting your current partners?
(Note: Need help building a website? Here’s a link to my guide to building one for under $100!)
Make your offerings clear. It’s great to have flexibility and options, but once you’ve gotten past the Google test and are ready to talk about what you can do for that company, you should already be narrowing down the (customized) list of ways you can serve them. And making it concise. Too many options is overwhelming, and puts the work on the decision maker instead of you.
Treat business as business. A clear, professional way to contact you is important. I can’t tell you how many times in the advertising industry I would try to call or email a potential partner for a company I repped and couldn’t find their phone number, got a voicemail that wasn’t appropriate or was given an email address that was questionably appropriate. That’s the first barrier.
The second barrier is treating payment and execution like a business. Do you have a contract? How will they be making payment? Will they get a professional invoice with payment terms that they can use for their tax purposes? Making a check out to someone they don’t know is a bigger leap than making one out to a (legal) company attached to a (legal) contract with an invoice to prove it.
Having the right sponsorship philosophy is critical to starting down a successful path with marketing partners, and giving them the solutions they need is the only way to get them on board.
Now it’s time to go to the next level and actually close deals with the companies who want to get on board with your team or track.
xo.
Kristin
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