Over the last twenty years we’ve utilized a variety of approaches to secure major sports sponsorships and in every case our success was in some way influenced by a gentleman from England named Guy Edwards. Guy is considered by many in global sponsor circles as the father of modern race sponsor packaging. He is responsible for creating and activating some of the largest race sponsorships in the history of the sport. He focuses on adding sponsor benefits and value that go beyond the typical team exposure benefits.
In addition to activating sponsorship programs, we continually train many successful motorsports business managers and in our search to find the best training tools, we only use one reference. Sponsorship and the World of Motor Racing highlights Guy’s career and provides the best editorial descriptions of the steps it takes to succeed at selling sponsorships. The book is out of print and is now a collectors item. If you can find one, copies sell for between $700 and $2,500 dollars each.
Since the book is hard to find, and it’s such a great learning tool, we’re going to do a series of upcoming articles outlining the basic contents of Guy’s work. His text provides the most comprehensive overview of the basic step-by-step processes needed to succeed at selling race sponsorships.
On the internet you can find quite a few people who have never sold a major million dollar sponsorship but will talk all day long as if they have. They’ll sell you books and cookie cutter proposal templates that aren’t based on real world experience. Unfortunately, these won’t really help you in the long run. We don’t offer theories unless they work and can be backed up by large scale and repetitive success. Once you have a clear understanding of the basic concepts, you can then custom tailor your methodology by adding your personalized creativity and hard work.
In future posts, we’ll review topics that include:
- How much time and work it takes
- Creating a competitive program
- Building a great package of sponsor benefits
- Properly pricing your program
- How to best present race marketing opportunities
- Selecting the right prospects
- Cold calling and arranging meetings
- Initial presentation/meeting
- What should be in your written proposal
- The value of testimonials
- Follow up calls and letters
- Follow up meeting strategy
- Closing the deal
- Letters of intent and sponsor contracts
Implementing Sponsor Programs
- Setting and reaching sponsor objectives
Increasing Sponsor Value
- Best ways to extract and deliver value
- Why sponsors participate in sports marketing
- Tracking and measuring the benefits
- Corporate politics
- Why sponsors stay (and why they leave)
- Sponsorship versus advertising
Photo: James Boone
Reference: Edwards, G. (1992). Sponsorship and the World of Motor Racing. (p. 280) United Kingdom: Hazleton Publishing.
View full post on Sponsor Proposal Tips and Advice