Sponsors are people that you will deal with in most any form of competition. Why? Because it is usually too expensive for one person or team to pay for everything. The elites also have sponsors, but that is mostly a salary issue (see Tiger Woods). The question that haunts me is how do you talk to sponsors in order to get what you need?
I have some answers, but surely not all of them and I would appreciate any feedback you’re willing to give on the subject.
Honesty
Unfortunately for some people, being honest about everything related to you and your competition (team included) is key. Don’t claim you’re a 1st placer unless you are, if you’re a novice you’re novice! People and Business look to support people for all sorts of reason, but tricking them is a sure way to piss them off and ensure they never sponsor you in the future.
Transparency
Let them know about anything related to the competition. If they ask about something, tell them about it. Being transparent about the team/competition will make the sponsors feel like they actually know what is going on. They don’t like to be left out of the loop, it makes them feel like they are not getting their money’s worth. Do this with even your smallest sponsor. Making them feel as if they are important to the team (THEY ARE!) keeps them coming back for more.
Update Often
Keep your sponsors informed often. Make it part of your schedule and keep to that schedule. If you landed a new sponsor, tell all the other sponsors. This actually makes them feel better (exception: if it is their biggest competitor) because then it makes them think sponsoring you is not a risky investment. The rationalization is that if other people are doing it, they cannot be blamed for a bad investment.
Tell them about all your events (ie race schedule). After the event tell them how you did and definitely include some eye candy (pictures, videos, etc…).
Invite Them Places
When possible invite them to your competitions. At the end of the season maybe you can organize a Sponsor’s Night or something to that effect. Sponsors are analogous to investors in a normal company, and perks keep them coming back. Some ideas include: If you’re a racer take them along for a hot lap/fast ride, If you’re a skateboarder teach some willing sponsors how to skateboard with pizza and beer, if you’re a paintball team organize a relaxed paintball outing for everyone to come out and try the sport, or if you cannot think of anything a Sponsor’s Dinner/BBQ/Picnic will always work.
The whole point is that sponsors, no matter how big of a company they are, consist of people. So being able to deal with people and make them feel good about your interactions is pretty much it.
Keep in mind, this writing wasn’t a How To Get a Sponsor, just how to keep them happy and talk to them. The How To will come later.
May 14th, 2008 |
