Class is in session this week as I feature a fundamental component of sponsorship 101 and that is a webinar on how to write sponsorship proposals that sell.
In addition to writing sponsorship proposals, I feature an article on tips for building relationships with sponsors and how Shift Up Now’s move into NFTs will benefit female athletes in motorsport.
Get out your notepads as class is now in session in The Business of Being a Race Driver on Motorsport Prospects.
The Business of Racing
From the Driver’s Point of View
“Rule #1: Don’t send a deck if a prospective sponsor asks for a proposal. While we’re at it, don’t ever send a proposal that has the word “exposure” in it. All of your assets have some type of value to most sponsors, but exposure is very low on the list. Give them things that increase revenue, and they’ll continue to use you in their marketing. In this video session by Alex Striler above, you’ll learn how to write effective proposals that start with negotiation and end in sponsorship—and other useful advice from the man who literally wrote the book on motorsports marketing and sponsorship. If you’re a racer – this PRI Education seminar can change your racing program, your race team, and even your life! “
The 2023 Drag Racing Sponsorship Summit is taking place March 28, 2023 via Zoom call from 4-7 PM Pacific / 6-9 PM Central and is intended for teams and promoters who need sponsors, and for business decision-makers who want to market through drag racing. All attendees of the live event will receive access to the recording for one year.
MotiV8 Training has an excellent article containing tips for building relationships with sponsors. “In the world of motorsports, securing a sponsor can make all the difference. Not only does it provide the financial backing necessary to compete at the highest levels, but it can also increase exposure, create new opportunities, and lead to long-term partnerships. However, finding and securing sponsors is only the beginning. To truly maximize the value of a sponsorship, motorsport athletes must focus on building strong, lasting relationships with their sponsors. Networking is the key to success in this regard, and in this blog, we will provide some tips on how to build those relationships and ensure success for both parties.”
Shift Up Now will be launching two NFT collections on the Ethereum blockchain at 3:00 pm ET on April 4, 2023, in partnership with Web3-consulting company FrontRunner.
FrontRunner is a female-owned business, founded by Shift Up Now Athlete and racer Julia Landauer. In 2022, Landauer made her NASCAR Xfinity debut with sponsorship from car culture NFT community GarageXYZ and the women’s empowerment NFT community Boss Beauties. She then ran a second race with title sponsorship from ATEM Car Club, another car culture NFT community, and supporting sponsorship from House of First and OnChainMonkey.
In addition to diversifying its audience, Shift Up Now has multiple goals for the campaign. By venturing into the Web3 space, it aims to provide another avenue for its audience to feel invested in its Athletes and racing programs, especially as Web3 and racing continue to intersect in more ways. This partnership provides a tangible, digital asset in return for support.
Proceeds from the NFT sales will go to funding female athletes in motorsport through the Shift Up Now mission. This inaugural campaign will feature Shift Up Now Athletes Laura Hayes, Loni Unser, Michele Abbate, Shea Holbrook, Sabre Cook, Sarah Montgomery, Hannah Grisham, Ayla Agren, Erin Vogel and Pippa Mann.
More Athletes are expected to be featured in future drops. In addition, as Shift Up Now launches further collections, the NFTs will include in-real-life utility, like meet-and-greets with drivers at racing events.
In addition, Landauer will host an information webinar – open to anyone – on Monday, March 27 at 8:00 pm ET. Registration is required using this link: https://lu.ma/ShiftUpNowNFTWebinar
General Motorsport Marketing Advice & Resources
Sports Central looks at Sponsorship Visibility and Possible Problems. “The visibility of motorsport is at its best well targeted and effective advertising, but even with the current Formula 1 cars, some teams are not able to communicate the benefits of visibility to potential marketing partners.”
Andrew Petcash looks at the explosion of athlete podcasts and ponders where this will all lead. “I don’t know if you noticed this…But there’s been A LOT of athletes launching their own podcasts as of late. On the surface, this doesn’t seem that interesting (or important). Yet I assure you that it is…”
Brad Zimmerman looks at the role of character development in sports marketing. “Professional sports figures are admired and celebrated for their athletic abilities, but the importance of character development cannot be underestimated. Just like in movies or TV shows, a sports figure’s character development can make or break their career. A well-developed character can help a sports figure build a strong brand, gain a loyal following, and create lasting impacts that transcend their time in the game. In this article I will point out the importance of character development in professional sports, using insights from some of the greatest creative minds in entertainment history – Walt Disney, Vince McMahon, and George Lucas.”
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a former lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.