Question

Topic: Strategy

Race Team Sponsor Strategy

Posted by Anonymous on 10/28/2008 at 4:28 PM ET 250 Points
I am a newbie, but love the insight that I have seen on here.

I am currently trying to create a campaign that would help my race team acquire sponsors. We race at a track with an annual attendance of 225,000 and a weekly television show.

So far I have begun compiling a contact list, designed a postcard for a mailing campaign and sent initial email blasts to several contacts.

What other ways should I use to contact potential sponsors and in what order should I implement the campaign to maximize my responses?

and I welcome any other suggestions that you may have for me

thanks
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RESPONSES

  • Posted by CarolBlaha on 10/28/2008 at 4:44 PM Accepted
    Your success will come from personal contact. Sponsor dollars are heavily competed for-- and are getting tight. I usually don't care for postcard mailing for sponsors-- but in this case, there is some ego to sponsoring a team. But use it only as an introduction, and drive excitement. This is a consultative one on one sell-- so plan your follow up plan. And you will get the best results tapping those you (or team) know on some level. Find a champion in your target firms and you will cut thru the slow red tape the rest are tangled in.

    Sell Well and Prosper tm
  • Posted by Frank Hurtte on 10/28/2008 at 6:38 PM Accepted
    I agree with my colleagues above, you need to do this in person. Now, let me make it easier. Most racers don't have a strong idea of what they can do for their sponsors so it turns into "begging for bucks".

    I suggest you productize your offering. Here are some ideas:
    1) Sponsorship level 1 - includes 100 T-Shirts with dual branding for them to give away. You sell the shirts to them for $20 plus cost of production.
    2) Sponsorship level 2 - includes 100 T-shirts with dual branding and a guest appearence at their facility.
    3) Sponsor level 3 - includes .....

    Dont forget you have a number of things to productize...
    I know one racer who turns his old pistons into momentos which are provided as a sponsor package. He also allows his sponsors to bring customer groups to his garage for an "inside" look at racing.

    A final word, many local distributors have co-op dollars. You need to ask about helping them harvest as many as possible.
  • Posted on 10/29/2008 at 8:46 AM Author
    Thanks for all the responses so far.

    Pistons as momentos. That's great. Those are the kinds of ideas I'd like to hear more of.

    I am looking to get into a few touch-a-truck shows over the summer and am teaming up with a radio station for promotions sake.

    Any ideas on tying that into my program?
  • Posted by Jay Hamilton-Roth on 10/29/2008 at 9:15 AM Member
    If you've been winning, announce the wins in press releases. If you're using a special bio-fuel, write a press release. You want media coverage of interesting angles about your race team (and not just in the sports section).

    Remember that the goal of sponsors is to have their message seen by the right people. The more media coverage you get, the better it is for them. Start getting your name out there yourself.
  • Posted by Mikee on 10/29/2008 at 11:07 AM Member
    You need to be able to explain to future sponsors what is in it for them. What kind of exposure are you giving them. Will they get recognized just on the truck, in print, on the web, through fan giveaways, etc.

    Jay has some great advice. The more exposure you are getting in the media, the more valuable sponsorship is. Your sponsors want to get noticed.

    Your idea of being at shows and events are great. Be sure to let sponsors know about this and give them the possibility of joining you to spread the word about their products. This is especially true for direct to consumer products.

    Mike
  • Posted by CarolBlaha on 10/29/2008 at 6:48 PM Member
    To highlight Mikes advice-- every sponsorship seminar I have attended- will tell you-- get the media sponsors first. They are key and are your mouthpiece. 2nd the best advice is "sell EVERYTHING" If you use pencils- sell the right for the logo. ever go to a major show and see a logo on your key pass? That is worth major kaching. Sell everything.
  • Posted on 10/30/2008 at 8:59 AM Author
    This is exactly what I was hoping to get. I've taken suggestions from all these and have come up with a campaign.

    Thanks Everyone.

    I am sure that I will have more questions as I hone in on those elusive sponsor dollars.
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