Sponsor proposals

[supertx]

TQ

 

How do you know that you are getting your proposals to the right person in the company? Also how can you deterim if you are going to get a return for a sponsor?

[tqj3]

I'm not sure I understand the second question, SuperTx. How about asking it again?

As for the first, you have to do your homework. It's important to remember that there are a number of middle managers in any company who have the authority to say, "No," but don't actually have the authority to say, "Yes." You have to get your material to the people who could give you the green light if they wished.

As in any other business venture, it helps to network. If you have a contact at a company who can put your proposal in the right hands, do it that way. Never send a proposal "blind;" that is, always have a specific person's name and company address. Don't just send it to "advertising manager" (that isn't where it should go, anyway) or "marketing director."

[supertx]

TQ

What Im trying to ask is if I go get 100 grand from a sponsor what is the best way to track if the sponsor is getting a return. Should you reley on his feed back only or should you put something else in affect to help with the tracking, and what do you feel is the standard return a sponsor should get on his investment?

[tqj3]

SuperTx-

You shouldn't try to track the return on a larger sponsor, in part because you probably can't. You'd need access to things like his sales records, and you'd have to be abel to chart how much was due to your efforts.

You should be clear on what you are going to do for the sponsor for the amount you agree on, and then back it up with records to show that you did it.

Sponsor return on the high level is one dollar in the car, two dollars in promotion of the racing effort, and four dollars in return on sales. On a local level, the amount spend on the car may be a bit higher than one-third the investment.

Where Central Texas racing misses the boat is in not wanting to spend money on anything but the car, which means no funds are earmarked for press releases, hero cards, personal appearances and so on.

Please look at NASCAR. No, we don't have their money, but we can copy what they do on a local and less expensive level. NASCAR promotes NASCAR (listen up, ROMCO, ARTS, TSRS, TAMS, TPS). Sponsors promote themselves and their drivers. The drivers promote themselves. The tracks advertise NASCAR and the drivers, because both have already been promoted. (It does little good to advertise what hasn't been promoted. Advertising just tells people when something they already want to see is going to be in their area.)

This isn't hard. It's not even very expensive, particularly when you look at the return. But most racers, tracks, series and so on seem content to keep doing what hasn't worked before.

Thunder Hill is promoting some this year, and the crowds show it. Maybe, if that keeps up, everyone else will think about trying it as well.

[REBELRACER]

yeah i wish sas would do some promoting..............it kinda sucks looking up and seeing the stands empty every week.........

[daffynmark]

NASCAR promotes NASCAR (listen up, ROMCO, ARTS, TSRS, TAMS, TPS).

Sponsors promote themselves and their drivers.

The drivers promote themselves.

The tracks advertise NASCAR and the drivers, because both have already been promoted. (It does little good to advertise what hasn't been promoted. Advertising just tells people when something they already want to see is going to be in their area.)

 

Studies show an advertisement must be seen somewhere around 9 times before you recognize the ad and tie it to the product—whether you read the ad or not. The semi-repetitive promotion line mentioned by tqj3 makes perfect sense and is basically the same principle. That's why t-shirts, jackets and hats are sold, haulers are decaled to the hilt, banners hang over pit walls, etc. The recognition factor is one of the things the sponsors are looking for.

 

Think about this—when you go to the store to buy anything...are you more likely to buy the product you recognize or the product that you have never seen before? Granted, I will buy the generic brand but only after I trust the store I am buying it from. That trust comes from repeated exposure to the store. Replace the store with the product, or driver in this case, and that is brand recognition. If you have heard the term "branding" it is the same concept. Press releases, hero cards, personal appearances etc. can be considered "branding" and they build recognition.

[grs51]

Sponsorships are built off of relationships. If you do not establish a relationship - you are on a dead end street.

[tqj3]

That's a good point, grs51. It may even be more accurate to say that sponsorships ARE relationships. Creating and sending a sponsor package is just a first step toward creating that relationship. It's kind of like a first date: you introduce yourself, put your best foot forward, and don't expect anything out of a first date.

[tqj3]

By the way, for all the lower budget guys and gals out there who aren't ready to do sponsor searches or full-season promotions of their drivers, there are things you can do.

Chase Stapp and the SS 99 team at Thunder Hill do their own promotional stuff, and publicize their activities as well. They're a good example of how to promote a local sponsor and make sure they get that "bang for the buck."

[tqj3]

I've talked to a number of people about proposals, but only had a few questions to answer.

On the other hand, it's now halfway through August, and anyone who doesn't have their proposals about ready to go is going to be running behind, so I can hope everyone is in that position.

Remember, the proposal isn't likely to result in someone sending you a check. It just gets your foot in the door, and racers who are accustomed to taking the off season off, and not starting work on next year's race car until December or January, may think they can handle their proposals the same way, and not realize most businesses have set their budgets well before that.

Besides, once you start working on the car, you won't have time for much else.

[tqj3]

The classic definition of insanity is to keep doing the same thing over and over but expect different results each time.

 

By that definition, most racers are certifiable. I've talked to a lot of people, even looked at some proposals; but, so far, everyone seems to want to keep doing the same thing they've been doing, and hoping for a different result this year.

 

Good luck.

 

For those who want to ask questions, I'll be at Thunder Hill Saturday night, weather permitting.

 

By the way, the Statesman had the results of Saturday's races as usual on Sunday, but they never ran. Apparently the Olympics took up our space. Nice story on Terry Tschoerner in Monday's Taylor Daily Press, though.