30/07/2024
Sponsorship can be broken down into four distinct phases, and below are the stages and tips for phase 4.:
1. Before you begin to look for sponsors
2. As you are searching for sponsors
3. When you have connected with a potential sponsor
4. Once you have secured a sponsor
Makes sense, right?
You can go back to find the previous ones or write 'sponsor' in the comments and I'll send you all of the tips in an email so you have it in one spot.
Once you have secured a sponsor:
1. Deliver Value Beyond the Proposal: Meet and exceed expectations, or under-promise and over-deliver. That is the true spirit of a great salesperson. This will help you in the long run by setting you apart from the crowd, earning respect, showing that you are trustworthy, and leading to more opportunities through repeat sponsors and referrals.
2. Embrace Sponsorship Opportunities: Participate in every opportunity that comes your way. If a sponsor requests you be at events, photo shoots, or other events, make every effort to be there. If the track or series is looking for event participants, be the one they go to first.
3. Deliver on Your Promises: At minimum, always fulfill your sponsorship obligations. This begins with knowing the marketing goals, creating a plan to achieve those goals, tracking and updating the sponsor, and pivoting if necessary to meet the goals. That is the minimum. Find ways to go the extra mile to exceed expectations, or surprise and delight your sponsors.
4. Be a Good Brand Ambassador: Always present yourself professionally and respectfully. Often, sponsors expect to keep and gain respect by associating themselves with an athlete. Do not do anything to ruin their reputation – or yours, both on and off the track.
5. Track Your Results: When you bring on a new sponsor, goals should be set – by you and the business. When you set SMART goals, you set both parties up for success. SMART goals are Specific, Measurable, Achievable, Relevant, and Time-bound. Measuring your results will tell you if you are reaching your goals for successful sponsorships. Once you have achieved the desired results, document the process and the results to use as a case study fo