By John Bondar,
Special to Wheelstalk.com -
Now that you have done your homework, you should know the following:
The event attendance for the season
How many people watch your events?
Your communications plan
How will you tell people about your success via web, print or broadcast?
How many people will read or listen or watch?
All of this data will help you to put together a sponsorship package that will get some attention. Very rarely a sponsor will just write a cheque to have a sticker on a car; sponsors want to know what they will get for their investment and it is important to understand that this is an investment in you.
The next part is easy, really; it is just a case of who, what, where, when, how and why. I like to use bullet points because they help to summarize things and are right to the point.
- Who: talk about yourself and what you do outside of racing (ie. school, family, charity work).
- What: be clear that you are seeking sponsorship and at what level.
- Where: outline the details of your events and the attendance.
- How: provide detail about how things will work. Will you place an ad in the event program for them? Will they get some tickets to your events? Will you bring your car to a company event and meet their employees?
- Why: it’s time to figure out a ROI for your sponsor. How much does an ad cost in the program and do you get a discount? How much do event tickets cost? Do you receive coverage in the local newspaper?
These items represent a measureable value and ROI for the sponsor.
So what is it all worth to the sponsor? If you add it all up, probably quite a bit. An ad may be worth $500. Tickets may be worth $500. A company event may be worth $500. A news article may be worth $500. As a package you may price it at $3000 which leaves you with $1000 to fund your hobby. It’s important to understand that you do not get to keep all of the money a sponsor may potentially invest in you.
Please send me an email if you would like to share an idea with me.
Yours in motorsports,