Do This Before You Go After Big Sponsors
Get started today going after sponsors, it's simple, easy and there's nothing in your way!
Hi, welcome to the Terence Dove On Racing Drivers newsletter. Every week I'm aiming to give you a mix of driving technique and new perspectives to keep you fired up in the most worthy pursuit in the world; being a racing driver.
Learn the nuts and bolts of kart driving excellence in my book, then come here for the optional extras!
Now let’s get stuck into sponsorship…
I’m going to cut to the chase, no pre-amble is needed. If you want to get started in getting sponsorship here’s what you should do before going after a big sponsor.
But you might want to make sure you are sitting down first!
Ready??
Find a small sponsor who will buy you a tyre, or offer yourself for free, then…
Treat them like they paid you a million dollars!!
Don’t freak out, stay with me.
Treating them like they paid you a million dollars means do what McLaren would do.
Go to their premises and get a picture with the sponsorship deal handshake.
Do a video yourself of what the business does, publish it on your social media.
Interview the boss for your social media.
Invite them to a race, look after them well. Introduce them to people and show them all your processes at the track. Document it.
Take pictures of the sponsor and yourself at the race event. Publish.
Tell the local media, try to get your sponsor in the paper.
Make short videos with clips of your racing and how your sponsor helps to make it possible. Invite them to publish them on their own channels.
Make short videos of their products and services yourself, featuring yourself. Publish.
Ask them for ideas on how they can use your exciting racing life to promote their boring business. Do what they suggest.
Repeat all the above regularly, ten times over.
Because they have paid you little or no money there is no pressure on you, you are free to learn the ropes. You can make some mistakes and get yourself some experience.
BUT after all that effort for no money, what have you earned? What the hell is the point!?!
You need to be ready to hit up bigger sponsors, and you weren’t in any position to do that before. Now you are because…
Big sponsors will challenge you to prove you are worth it.
You now have the answer to the hardest question a big sponsor can ask you:
I’d love to help you, but I’m in business - what do I get for my money??!!??
That is a natural question to ask, but it’s also the standard question to get rid of sponsorship enquiries fast.
They are not ready to hear an excellent and well prepared response from you, and you are about to blow their mind!
Its starts with this:
Look what I am already doing for these guys!
Have the following prepared:
A huge case study with every single thing you are currently doing to get your current sponsors exposure, and the feel good factor of being involved with you. Have it ready!
Now you are in position of power. No longer are you begging for money, you are offering something very valuable.
You have delivered a few thousand quids with of exposure for other companies, and you can ask for money with confidence as a real deal business opportunity.
Entrepreneurs are suckers for people who push the limits and work for it. You’ve got them on the hook!
All the effort you have already put in makes them really like you as a person, as an example of someone putting themselves out there.
Here is where you’ve got them:
Damn I like this driver, I really want to help them but I can’t justify it, can I?
Buying decisions are made with the heart first, then some logic is needed to justify it.
You dealt with the heart part when you got them on the hook, now you are helping them with the logic, by giving them the evidence they need to justify helping you.
When you show a sponsor what you already do for you current sponsors, a compelling combination of work, effort and genuine intention to make that company look fantastic, then you’ve got a real chance of making a deal!
They like you, they like racing (because they are bored) and they want to get involved. Give them the justification to say ‘yes!’ with your track record of diligently and enthusiastically showcasing other businesses, and you are in.
That’s it, go after them!
Thanks for reading…
Terence.
Great, sound advice Sir. As an entrepreneur who has sponsored many race teams and individual racers over the years I can attest to how few (if any) apply this common sense approach. And whenever I’ve made suggestions along your lines to those approaching me, I’ve mostly been met by inaction, or nickel and dime negotiations. One , maybe two exceptions. And lots and lots of missed opportunities!